As a business owner, you know that your employees make your company what it is. When they’re efficient and effective, your company thrives and is able to produce more high-quality work every day. However, this only works when your employees feel comfortable staying with the company for years on end. If you’re struggling with employee retention, you’re not alone. Luckily, you can fix the problem. Here are a few proven and effective ways to keep your hardest working and most trustworthy employees on your payroll.
1. Reward Good Work
Everyone likes to be told that they’re doing a good job but just telling your team that you appreciate their work isn’t always enough. You need to show them that you appreciate their efforts. Reward them by offering bonuses at the end of the year or hosting company parties that allow your staff to relax and unwind together. You can even throw in a contest with a grand prize like an all-expenses-paid vacation. Just remember to look for deals on last minute cruises and airfare to make sure you get the best deal possible.
2. Show Them That You Trust Them
Many business owners think that active management means constantly supervising what their employees are doing at any given time. While some degree of supervision is key in making sure that things get done correctly, too much can hurt your employees’ productivity and morale. If they feel that you’re watching them too closely, they’ll feel that you don’t trust them to do their jobs. This can lead to disgruntled team members and will almost always hurt your bottom line. Instead, show your team that you trust them and let them work with less supervision. They’ll reward your trust with increased output and more front-line innovation.
3. Encourage Time Off
Work-life balance is one of the most important things for your team members. When they’re overworked, they won’t be able to be as productive while they’re on the clock. Worse, they’re at risk of burning out and quitting altogether. The best thing you can do is encourage time off for every member of your team. Try to implement a flexible time-off policy, provide paid vacation days based on tenure with the company and make time-off requests easy to fill out. When your employees have a chance to step away from their work and focus on doing things they enjoy, they’ll be able to remain motivated to do their best on the clock.
4. Make Benefits a Priority
One of the most important things any employer can do to improve employee retention is to offer higher quality benefits to their team members. This goes beyond company parties and a relaxed dress code. Consider offering affordable health insurance plans to fit your employees’ needs. If you can, try to add vision and dental benefits to the package. Many people actively look for jobs that provide benefits and value those benefits more than a higher salary. Your employees also need the right equipment to get the job done. Make sure you give it to them. Set them up with ergonomic workstations and upgrade your equipment as needed to make sure everything is as safe as possible. If they tell you that a certain piece of equipment would make their jobs easier, take it into consideration.
5. Foster Open Communication
Your employees are your biggest resource when it comes to creative problem solving and innovation. However, you need to encourage them to express their thoughts from day one. Implement open communication across the board. Encourage your employees to discuss their ideas and concerns with you anytime something comes up. Be sure to truly listen to their suggestions and implement the ones that make the most sense. This will create a sense of ownership and lets your team know that you value them not just for their ability to do their jobs, but for their willingness to help you improve your company.
Keep these tips in mind and you’ll be able to keep your employees happy and motivated for years to come.