Employee Retention

Employee retention is critical in maintaining well trained, knowledgeable staff. The cost of hiring and retraining a new staff member can cost the employees annual salary in costs, and in some cases up to double that. I’ve put together 15 tips you could think of running out to your staff to help improve on your current retention rates.

1. Satisfied employees like to know clearly what their role requires every day at work.

2. The ability of the employee to speak his or her mind freely within the company is a key retention tool.

3. Being able to use their talent and skills is an environmental factor your employees seek in your workplace.

4. The perception of fair treatment with all staff is important in employee retention.

5. Your best employees seek frequent opportunities to learn and grow in their careers and knowledge.

6. No matter what happens, never threaten an employee’s income.

7. One company I know provides free wine on site so that when employees finish for the day they can stay and socialise with other staff members, which helps promote bonding.

8. Your staff members must feel rewarded, recognized and appreciated.

9. Celebrate special occasions, whether employee birthdays or company milestones.

10. Make sure employees take their holidays! I’ve seen a lot of businesses sending people to the Hunter Valley even for a weekend to refresh their batteries.

11. Take the time to let humour happen. It helps employees cope with stress and increases productivity.

12. Create a career path with your employees so they can see where they are going.

13. Improve training in the organisation, keep your people learning and bringing you new skills.

14. Take them ballooning. Because why not?

15. Take the time to sit and speak with them, on a more personal basis, you’ll have no idea how much this will positively effect staff!

For more great tips on employee retention click our link.