Manager's Guide to Retain your BEST Employees

With evolving growth of work life and employee morale, switching jobs have become a common practice for employees. Today, employees refuse to serve companies that do not listen to them.

One of the top reasons an employee feels to leave their current job and switch to another company for the same job is because of detachment. Creating a highly engaged workplace has become crucial for retaining your best employees.

In this article, we will break down the best ways to RETAIN your top performers.

But firstly, let us study why employees are leaving your company!

While Job change can be private for many Employees, it can also be because they have ongoing issues with their current companies, and they do not feel like their problems are being heard. Hence, they decide to RESIGN!

You will be more likely to hear one or more of the following reasons why an employee feels the urge and need to Resign from your company :

● Boredom.

● Lack of Recognition.

● The desire to have a change.

● Dissatisfaction with the company's culture.

● Dissatisfaction with company growth.

● Management issues.

● Feeling overworked or unsupported.

● Less/insufficient salary.

● Unhappy with perks and benefits of the company.

● Better Job opportunities at other companies.

If you sense that your business is failing to retain your talented performers, and are looking for ways to make your employees stay, then here are the top strategies to help you boost Job satisfaction and Retain your best Employees.

1. Have a successful Onboarding Process.

The Onboarding process is as necessary as Hiring. Skipping on this step can be a colossal mistake for Employers. A successful Onboarding process teaches an employee not only about the job but also about the company's culture from Day1. The onboarding process is the first channel to engage with your new employee.

Keeping your best foot forward and providing sufficient training and guidance will make an employee feel he is given full support and will look forward to working with you.

2. Provide competitive Perks, Benefits, and Compensation.

Think of the different reasons why anyone would want to work in your company when there are many companies out there doing the same thing! Think of every way that sets you different from the rest of them. One way in which your company beats the rest of the companies is by providing competitive perks and benefits. Salary isn't always enough. Candidates, while applying for jobs, also look for Perks and benefits. Providing various benefits like health insurance, option for remote work, complimentary bonuses, yearly bonuses, and salary hikes can set an impressive outlook for candidates for your firm. According to many surveys, professionals have said parental leave ( maternity and fraternity leave ) is a huge bonus. Many employees say it would be good if they also have retirement plans as government employees do. So Improvise your Compensation and benefits packages to raise Employees' job Satisfaction.

3. Invest in Employees' professional development.

Technology is changing at a high pace. It has become a necessity to stay upskilled with this fast-growing technology. As a part of your company, it becomes the duty as an employer to keep your employees upskilled with the latest technologies as business requirements evolve. Give them the time to adapt to their abilities and skills. Conduct mentorship programs and give them options to decide what they want to learn further for professional growth.

Making Employees' professional development a priority is one of the top ways to make your employees stay.

4. Encourage Work - life balance.

People are not machines. They need enough time to rest so they can work. Today, people who work for long hours (some even work on weekends) are glorified! It is essential for them and the company to realize that working without resting and not taking care of themselves is a huge mistake. Working long hours, sometimes even on the weekends can wear out employees. Setting regular working hours, policies for working on weekends, and flexible hours can bring your employees the strength and flexibility to bring their best to work and boost Satisfaction at the workplace.

5. Provide Continuous, positive Feedback.

Failures are a part of life. But constantly pointing at it can lower one's self-esteem. While we work, we fail many times but let your employees know that it is okay to fail sometimes. It is alright to not be perfect every time, and that failure is just a part of growth. Process failing together and provide your employees positive and continuous feedback.

6. Accept Feedback from Employees.

Give and take is a life policy. Giving feedback is one thing, but receiving feedback from employees is something that most employers don't do. Employees tend to lose motivation and interest in work when they feel unheard. Create a workspace where your employees feel that they are being heard, supported, and even honored when they propose new ideas. Accept employees' feedback. Create a culture where your employees don't step back from giving new ideas and suggestions.

7. Connect with your Employees.

Humans are social animals. Job is a part of social life. In any relationship, it is essential to feel connected to stay. It is the same with the working environment. It is vital for workers to feel connected and stay at any organization for long periods. Invest in arranging social gatherings at the workplace or trips and vacations (if employees are working remotely) from time to time. It will not only ensure and build trust in co-workers and teams but also boost employee retention.

FINAL THOUGHTS:

Without a doubt, MONEY retains people in business. But it is not always about the money and is not the only way to retain employees.

You have just learned about different effective strategies and ways to retain your best employees. While we talked about how to retain employees, it is also necessary to let go of employees who are toxic, unprofessional, and harmful to the workplace.

Click here for a demo with RecruitNXT to help you hire the right candidate for you!

Article by Janvhi Jain, Content Writer at RecruitNXT.