6 tips on Retention and how to retain good team members.

I am often asked by companies I speak at, about retention and how to retain good workers. I feel this is a very importing topic that many companies are facing in today's competitive workforce. I took some time to come up with 6 ways you and your company can retain good team members.

1.??????Offer competitive compensation and benefits: One of the most effective ways to retain good team members is offering them competitive compensation and benefits packages. This includes salaries that are on par with market rate, health insurance, retirement plans, PTO and other company perks.

2.??????Create a positive work environment: work and company culture are huge as people want to work in a positive and fun work environment that shows a pathway for growth and development. Companies should create a culture that values and rewards hard work, provides opportunities for advancement, and encourage collaboration.

3.??????Recognize and Reward good performance: Companies that recognize and reward good performances inspires others to seek this and preform better. Ways of recognition could be in forms of bonuses, promotions or other incentives.

4.??????Offer training and development opportunities: Great team members want to learn and grow professionally. Companies that offer these programs and opportunities shows your team members you care about them and in turn they will work harder for you.

5.??????Provide work-life balance: Balancing work and personal life is key for keeping your team members happy. Companies that provide flexible working environment have happier and productive team members.

6.??????Allow your team members to feel part of something bigger: Companies that allow and encourage open communication allows their team members to feel like they are what is helping move the company towards the set goals of the company.

I feel by implementing these strategies, companies can increase their chances of retaining good team members while building a strong loyal workforce.