Some turnover is good, even healthy for a company. In fact, if you have a 100% retention rate, then you’re not gaining access to new people with new ideas and fresh perspectives. That said, if you’re experiencing a higher than usual percentage of turnover, what can you do retain talent – and make your company a place top people want to remain at? Start by focusing on these areas:
- Flexible work schedules. More and more, employees want options in terms of where and how they’re working. Thanks to technology, most people can work anytime, from anywhere. So if your company is rigid when it comes to telecommuting or offering flexible hours, then consider relaxing your rules and offering more flexibility to your employees.
- Opportunities for advancement. Most employees don’t want to stay where they are indefinitely. But in order to grow and advance their careers, they need access to appropriate training and development. That’s where you, as an employer, come in. By learning new skills and advancing in the company, you’ll have a more knowledgeable – and more loyal – workforce.
- Fair compensation. For many employees, salary and benefits aren’t the most important factors when it comes to their job. But it’s still important. The amount of money an employee is paid will have a big influence on an their loyalty to your organization. Make sure your compensation package is fair and competitive for each position in your company.
- Financial perks. Besides salary and benefits, another financially related area to focus on is bonuses. These are usually linked to achieving specific performance goals. But offering them is a great way to retain your top performing employees.
- Culture. If it’s all work and no play all the time, employees won’t feel bonded to the company. That’s why it’s important to host events like holiday parties and company retreats. Not only does doing so enable your people to feel more connected to the organization, but it also helps them build stronger relationships with their co-workers. A true win-win.
- Management. One of the primary reasons employees leave is because they don’t like or get along with their immediate supervisor. Making sure all your managers are properly trained on management best practices is key to creating a better workplace for your staff.
Need more help hiring and retaining top level talent? Call Provisional. As one of the leading staffing agencies in Coeur d’Alene, Idaho, we can help you create a staffing strategy and hire the right people to help you boost your bottom line. Just give us a call today to learn more.