The critical factor for the long term health and success of business is Employee Retention. Managers agrees that retaining best employees ensures customer contentment, satisfied coworkers, product sales, reporting staff, effective sequence planning and deeply embedded organizational knowledge and learning.
Now the question arise that What to do? What can an employer do? According to my suggestions to retain your employees, below are the important points of employee relationships :
By giving them responsibilities, show your employees you trust them and that thing allow them to grow. Support them to gain new skills. Continuing provide them sufficient education opportunities. Hire from within wherever possible, and at suitable times give kind promotions.
Reward and Recognize
Frequently recognizing and rewarding accomplishments is one of the most powerful employee retention strategies. Improve your employee’s visibility by publically recognizing them at staff meetings or through a business-wide email. Taking the time to say a genuine “thank you” is also an easy and effective way to make people feel cherished and appreciated for their efforts. Compensate your employees for their hard work with appropriate monetary rewards or non-monetary incentives to assist with career progression.
Employees feel great and honors to know they are respected. People may readily forget the things that you said, but they will always remember the way you made them feel. Many workplace legends are built around the terrible things tired managers said. But if managers make it a priority to show outward respect for employees on a regular basis, it will lead to a strong and enduring workplace culture as well as positive experiences and memories that they will never forget.
Challenge and Development
Opportunities for growth and advancement are key to retaining your top performers. High achievers tend to be life-long learners, so be sure to provide ongoing training to keep their skills up to date and advance them to their next promotion. Challenge your staff with new responsibilities and allow them to lead new projects where they can be stimulated and acquire new skills.
Tie a part of your employees’ wages to the company’s performance. This will increase their interests with the company’s revenue and profit goals and will serve as an innate incentive to stay with the company as it grows. By making the fixed cost of payroll inherently more variable under differing business conditions, you can make your company more resilient and agile and also treating your employees exceptionally well.
Lead and Support
The quality of an employee’s relationship with their manager and co-workers is a critical factor in their overall satisfaction at work. As a manager, ensure your expectations are clear, communicate openly and honestly, and keep your promises. Offer frequent feedback and encourage suggestions and new ideas. Ensure workloads are achievable and appropriate. Spend one-on-one time discussing their progress so they feel like a valued member of the team. Cultivate a positive, motivating work environment and facilitate opportunities to socialize and have fun.
Be lavish with time off. Despite the hard economy, provide enough time for sick days, family vacations, etc. You should expect and even demand high-quality performance, but it is unreasonable to expect a continual level of pressure. Allow employees the chance to catch their breath from one assignment to the next with the help of team-building activities or mini break periods over the course of the day. Pace workflow can be highly beneficial to permanent employee relationships.
You have to keep the one thing in mind, that a long-term commitment requires effort in both directions.
953 total views, 1 today