Methods to retain employees

Yazinski, University of Scranton Employees leave organizations for many reasons; oftentimes these reasons are unknown to their employers. Branham says there are seven main reasons why employees leave a company: Employees feel the job or workplace is not what they expected.

Methods to retain employees

But if someone loves their work, takes pride in doing it well and feels valued, there are many other ways besides a bigger paycheck to show your appreciation for a job well done. Studies have shown that employees with high job satisfaction are generally more productiveengaged and loyal to their companies.

For example, after a recent company-wide engagement survey, we chose to share our results with all employees. We not only communicated our top areas of success but also our areas for improvement and how we planned to address them moving forward.

Transparent communication and a simple acknowledgement that we heard you can go a long way. Offer more vacation time "Reward your highest performers with incremental vacation days.

These employees are your superstars so you can be confident they will get their work done as well as enjoy a few extra days of well-deserved time off with family and friends.

Want to Boost Employee Productivity? Offer an Incentive ] 3. Encourage communication in common areas "Businesses should take steps to create spaces where employees can easily communicate and share ideas.

Casual conversations in the break room can become collaborative conversations. Make it inviting and effective, with nice furniture, tables, and snacks and beverages, if possible. Create a career pathway "[ Our research ] found that providing developmental support, such as training opportunities and career mentoring, to employees who do not believe there are attractive career opportunities for them within the company led to such employees leaving the organization.

As part of training and development, make sure employees are aware of the different types of career paths or job opportunities throughout the company.

Find people who share the operational values of your organization from the outset, test for fit early, and allow growth opportunities to express that value.

Methods to retain employees

Our team members are consistently rewarded with higher value projects following a constructive initiative. Promote a positive work environment "Happy employees make for a happy company. Recognize and reward employees "Achievement and recognition are high motivators for employees. If they take risks, reward them.

Give them a coupon to go out for dinner, an extra day off, tickets to a show, etc. The small stuff adds up. Having a positive culture and workplace environment helps a lot, as it encourages teamwork and communication which increases engagement and opportunities for teammates to learn from each other.

We also do periodic "shout outs" to people at all levels of the organization for great work or superior effort. These kudos cost nothing but provide important public recognition for a job well done, effectively compensating people in the form of social currency which is highly valued.

Offer benefits beyond the basics "There are many ways to supplement salary by assisting employees in other areas of their lives. You can offer an extra level of life insurance or disability insurance for employees to protect their incomes. Other ancillary benefits, such as dental, optical [and] wellness, are all well received by employees.

And gym memberships and transit benefits are great perks to keep employees happy and healthy. It is important to [provide] higher benefits so your employees know that you truly care about them and their families. Make employees part of the big picture "The best benefit you can provide to your employees is the opportunity to make a difference through their work and help guide the course of the company.

Benefits such as clear and frequent communication on company happenings, individual and department direction, and big-picture company direction make all the difference in employee happiness.

Some source interviews were conducted for a previous version of this article. She began freelancing in and became a contributing writer for Business News Daily in You May Also Like.Jul 15,  · If you systematically follow these steps, you will be able to retain good employees.

Or, at least when good employees decide to leave, they will leave knowing the . Key employee retention is critical to the long-term health and success of your business.

Managers readily agree that retaining your best employees ensures customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and organizational knowledge and learning. After you put in the time, effort and investment to hire the best employees possible, you need to retain that talent.

Many books have been written and exit interviews conducted as employers look for the secret to keeping their good employees satisfied. In a recent blog post, we cited some alarming numbers: 40% of workers are planning to look for a new job within the next six months, and 69% say they’re already passively looking.

As employers. Next, you have to keep them. High employee turnover costs business owners in time and productivity. Try these tactics to retain your employees.

— Offer a competitive benefits . Provide key employees with stock options/equity awards (), and; Create an extensive benefit package (). Some of the least effective employee retention methods: Providing tuition reimbursement and other educational opportunities () Monitoring employee satisfaction with pay and work duties (), and; Providing mentors for key employees ().

Employee Retention – How to Retain Employees - Small Business -