How To Improve Employee Retention In A Competitive Market?

You won’t always be able to hire wide-eyed recent college grads who will hang on to your every word because they’re new to the workforce. Occasionally you’ll hire someone who just wants to make ends meet until their dream job comes along. So, how do you appeal to those who only come to work for the paycheque? More importantly, how do you convince those paycheque-only employees that they are actually at their dream jobs?

Keeping your employees happy is no easy feat. However, you can improve employee retention in a competitive market.

A Place Where Everybody Knows Your Name

Get to know your employees on a first-name basis. Learn some personal details about their lives; what they do for fun, their marital status, how many children they have, pets, etc. You don’t need to learn everything about them, but some key details will help you build a relationship with your employees that enable you to carry on a quick conversation about something other than work.

Be Vocal About Your Employees’ Value

A simple “good job” goes a long way. Your employees need validation. They want to know that their work is getting recognized and that they’re living up to and hopefully succeeding company standards. By telling your staff that you value what they’re doing and how they’re doing it, they’ll be much more inclined to stay. Additionally, ask for feedback. If there’s something you can do to help an employee feel more at ease and increase productivity, your staff should feel comfortable telling you about it.

Recognize When an Employee is Faltering

When an employee’s quality of work unexpectedly goes down, have a chat with them before laying down the law. Sometimes personal matters do creep into the workplace. They could have a sick relative or financial troubles that are keeping them from working properly. You don’t have to play psychiatrist and counsel them through their tough time, just ask them if they’re okay.

Keep up With the Times

Running a dated office is a sure fire way to lose employees quickly. This isn’t to say you can’t implement a dress code or should forgo the enforcement of behavioral policies; but you need to run a modern ship. Look at your competition and see what they offer their employees. Do they have free weekly lunches? Do they pay for transit passes or gym memberships? Offer comprehensive health care packages so your employees won’t flock to the competition just for dental benefits. Furthermore, don’t skimp on promotions. If a position opens up, promote from within to show your staff that they’re all important.

Trust Is a Must

Establishing trust is another way to retain employees. Give your staff space and let them know you trust them to get their jobs done without micromanaging. Autonomy goes a long way in the workplace.

A good employee is a high valued asset for the company. It is important to keep them happy and stay at the company. It is also equally important to train new employees into good ones. Good online training software can help in training a new employee to exploit his potentials and improve his skilled. Along with training it is also important to treat them with proper respect and keep them happy so that they are not willing to leave the company.

Author Bio:

I am Michael West, a computer programmer with a passion for developing video games. I am also a blogger with a tendency to write about technology and social media. I have been continuously developing creative projects since 1990.