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Keeping good employees helps your bottom line. You’ll pay less for training and recruitment. And long-term employees have higher productivity rates. You’ll also be able to keep the most talented employees rather than losing them to your competitors.
People keep their jobs when they’re happy with their work environment. Offering a competitive salary and benefits package is the first step. But how do you keep your employees happy without breaking your budget?
Here are some easy — and FREE — ways you can reduce employee turnover:
- Hire the right employees – In addition to being qualified for a position, new hires should have a personality that will mesh well with his or her coworkers.
- Be flexible – While structure is good, you should be understanding of your employee’s personal needs. Give your hourly employees more freedom to schedule their own hours. Or, if possible, allow employees with a long commute to occasionally work from home.
- Give praise – It’s easy to only give special attention to others when they do something wrong. But remember to focus on the good, too. Send a simple email or card when someone is doing a good job. It will go a long way.
- Set clear goals for career paths – Your employees want to know they have the opportunity to advance in your company. Be straightforward, and let them know exactly what steps to take toward a higher position. And, as always, keep your promises.
- Get to know your employees – People enjoy work more when they feel a personal connection to their coworkers and managers. Ask your employees about their lives. Playing a monthly “get to know you” game is a great way to break the ice.
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The Wall Street Journal. Apr. 7, 2009. How to Reduce Employee Turnover. Available at: http://guides.wsj.com/management/recruiting-hiring-and-firing/how-to-reduce-employee-turnover/. Accessed May 6, 2014.
The Sloan Center on Aging & Work at Boston College. N.D. Increase retention and reduce turnover. Available at: http://workplaceflexibility.bc.edu/need/need_employers_retention. Accessed May 6, 2014.
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