8 Ways to Retain your Employees

Retain your best talent before it's too late.

It is said that nearly 75 to 90 percent new joiners leave within the first 6 months of joining a company. At this rate, it gets difficult for human resource managers to handle employee attrition. Losing employees is always a great loss to any company, not only monetarily but also company credibility wise. A famous proverb says prevention is better than cure likewise, taking appropriate measures to reduce attrition is better than trying to retain employees after they resign.

 

 

Employee retention is the ability of an organization to absorb back its employees. Corporates grapple to keep their best employees back regularly. Employees decide to lose ties with their companies for many reasons, at times these are innocuous reasons which can be taken care of by taking corrective measures.

 

 

Few ways to effectively retain your employees are:

 

  1. Hire Right People: Planning for retention starts right from hiring itself. It is important to hire the right people to do the right job. Alignment of candidates personal goal to job roles is essential. If you hire people without understanding their expectations from the offered job than they are bound to leave after a point of time.

 

  1. Effective Onboarding: Study suggests that 1/4 of employees who leave an organization would stay back if onboarding was managed properly. On-boarding is the process of familiarizing new employees to the company. Organizations should start taking the onboarding process seriously as that is when new employees truly start to understand their new workplace and work culture. The on-boarding process should be propitious to make new joiners feel welcomed.

 

  1. On-Job Training: Providing on-job training is a vital part of the employment. Employees need to keep learning even after getting on the floor. On-job training keeps employees motivated and informed about new trends in their sector. Firms should arrange training sessions and seminars, at the least organization can assign mentors to employees for them to learn alongside working, this will boost employee interaction hence positively impacting the work environment.

 

  1. Empathetic Managers: It is often said that employees leave their managers and not jobs. Managers are the first source of contact from the organization to employees. Managers need to be considerate as managers represent the organization to employees. Only when managers are approachable will employees feel free to share their grievances and opinions with them. Empathy is one quality that every manager should carry, being empathetic and cooperative towards their employees other than work will help employees build a stronger bond with the organization thus, promoting job security.

 

  1. Pay Scale: No matter what people say, money is the primary motivator for all employees. Majority of time old employees look for a switch in the job because the pay scale offered in their organization is lower than their expectation. An organization should consider market value while offering increments, every employee must and should be paid for their work value. If employees efforts are not valued than the employee is certain to leave.

 

  1. Work-Life Balance: Employees are humans too, they need their personal space as well. Often time employee gives more than 100% of their efforts by sacrificing their time for work even after working hours. Managing work from work on a sick day, handling minor conference calls on weekends, attending important meetings past office hours, etc are all signs of negative work-life balance. Employees should be treated as humans by giving them enough personal time to de-stress from work. Employees are sure to leave an organization when it doesn’t respect their personal space and time.

 

  1. Transparency Within Organization: Communication system should be linear. All important changes and announcements should be conveyed to employees without hesitation. Transparent work culture promotes employee belongingness. An employee is more loyal and dedicated towards their organization when they are kept in the loop about the latest updates regarding their work and work-place.

 

  1. Positive work culture: Employees spend a majority of their time at work hence, it is very important to have a positive work culture to keep employees motivated and willing to work. Negativity and unhealthy work culture will only drift employees away from their organization. Various steps can be taken to make the office a better place. Small things like being kind to each other, eating meals together, organizing employee engagement activities, etc can also boost employee enthusiasm at the workplace. A happy work culture leads to happy employees. When work culture is good employees reconsider situations before planning a switch.

 

To conclude, we need to make work a better place for an employee to stay back. The job market is a two-way street - it is not only the employee who needs the job but also the employer needs their employee to work for them. Retention of well-fit employees is every important as it is not easy to find correct talent in this competitive job market and hence, retaining employees is a crucial act.