Smart Ways to Boost Your Employee Retention Rate

Have you begun to notice that the percentage of employees leaving your company is higher than the national average? This means you’ve got a problem with employee retention, but it doesn’t mean you have to suffer with this forever.

In fact, there are several strategies you can use to reduce this number and increase employee satisfaction. This is a significant problem; therefore, finding a strategy that will work to help you reduce it is going to work to your benefit.

Here are strategies that you need to start using if you want to ensure your employees want to work for your company long-term.

Provide Positive Comments for Employees

There are several factors that point to the fact that employees want to be recognized for the work they do. There are several surrounding factors and statistics around recognizing employees and providing them with constructive criticism to continue doing their jobs. If you’re unsure whether you provide the right amount of feedback to employees, you could use a survey to track this data.

When providing feedback to employees, do your best to refrain from commenting on how they can do their jobs better. Instead, point out the things that they are doing well in an effort to motivate them to continue doing this.

You might also consider creating a feedback box for other employees to praise their coworkers positively. When people receive kudos for their work, it helps them realize that they’re being noticed.

It can also help other employees want to work harder to gain that kind of recognition too.

Provide Plenty of Growth Opportunities

Many people leave a job they’ve been at for years when they realize there’s no room for them to move up within the company. When you first begin working for a company, and you don’t have all the skills needed to be in a managerial position, it’s understood you’re going to be in an entry-level spot for a while.

But, once you gain more experience and have been at the company for a more extended period of time, you expect to receive some type of promotion. Especially if you’ve been instrumental in the company meeting goals and advancing to the next step in goal accomplishment.

Even if you’re a small company and there isn’t room for growth, you could look into providing more opportunities for training to further advance the employee’s skills.

Build a Culture Based on Respect

It’s challenging to get work done in a business if there is no respect for everyone working there. Therefore, another tactic you can use to decrease employee turnover is to foster an atmosphere that’s built on respect.

It’s crucial that people don’t feel devalued by their employer or other coworkers because it can lead to the employee being unsatisfied with their job. When people are looking for a job, one thing they want at all times is to be respected by the people they work with.

If employees don’t feel respected, it’s going to affect the work they do. Over time you’ll begin to notice the decline in work effort because the employee’s output isn’t where it used to be when they first began working for your company.

Include Employees in Business Decisions

There are going to be decisions in the company that employees are not a part of, but if there’s something that directly impacts them, it may be useful to get some feedback about how they feel about it. This can easily be done by hosting a focus group or asking employees to fill out surveys.

You can ask them about certain changes that are happening and how they feel about them. After gathering the feedback, you can decide if the decisions you’re about to make are going to increase or decrease employee satisfaction.

Strategies and Ways to Improve Employee Retention

Employee retention is important and shows other people that could potentially work there that your company is the place to work. Ensure you include people in decisions made that will affect them and focus on creating a workplace culture that focuses on respect amongst everyone.

Working on employee retention is an ongoing process. Start today and continue making retention and your employees a priority for a long time to come.