In a recent post, we outlined how to speed up your hiring process while still attracting top talent to your company. Hiring the right people for each position in your company is crucial to business success and longevity. Equally important to finding the right talent is keeping them around. Here are 8 tips to improve your employee retention rate so that your business can stay focused on long term goals.
Hire with precision
Make it a priority to discuss long term goals while interviewing new applicants. If remaining with your company is not in an applicant’s goals, you should take caution about hiring them. Even the perfect candidate might have to be passed on if they are merely using your position as a stepping stone to a different role. Hiring in this way might come at the expense of expertise in the short term, but the company will benefit from loyalty in the long run.
It might not always be the case that an employee already within your company is fit for a promotion, but when possible, hiring from within helps encourage loyalty and adds an incentive to working hard and showing leadership skills. If you are always hiring from outside, your employees might feel stuck in their positions or feel that their work is under-appreciated. To avoid this, try to promote from within and encourage employees to further their skills for the betterment of the entire company.
Hand-in-hand with promoting from within is offering training for those employees who might fill that gap. Often times employees feel stuck and if they cannot get a promotion within, they will begin to search for new opportunities elsewhere. Offering training tells your employees that you care for them and that you want to see their skills improve.
Pay is undoubtedly a major factor for employees. Even the most loyal employees may have to look elsewhere if the pay rate is significantly imbalanced. Here’s a great way of looking at it: if you pay minimum wage, you are going to get minimum wage service. When others are paying $15, by paying a few dollars more, you send a message to your employees that their work is valuable.
Offer benefits and perks
In addition to paying well is offering the right benefits to your staff. This might mean insurance packages, more paid vacation or holidays, travel or training benefits, and so on. This might also include free coffee, tea, breakfast or lunch deals. Make it unique and appropriate for your company!
Offer flexible hours
We are slowly moving out of the traditional 9 to 5 work schedule. Employees are gaining interest in building their own schedule. Depending on your industry, making this a reality for your staff will undoubtedly make your company more attractive. There are certainly times where the staff is absolutely needed but even being able to control half of their schedule weekly, monthly, or annually, makes all the difference for your employees. This gives them more freedom in creating a schedule that works for them and their families.
Much of what has already been discussed deals with creating a company where everyone’s work is valued and appreciated. It should really go without saying that to improve loyalty you should give your employees praise where due, but it is too often the case that employees feel underappreciated. Work might even become stressful because of too much pressure or oversight on their projects. Create a more open work environment that both reduces those pressures but also adds value to the work done. One last tip in this regard is not to overdo it either. Showing too much praise might come across as ‘fake’ or result in a lesser quality product or service.
Create a healthy work culture
All of the above can be summarized as creating a healthy and strong work culture, which is really just to say a company that is attractive. This includes the right benefits, the right personnel and leadership, proper training, and, of course, a safe and fitting physical work environment.
If you are looking for new full-time or part-time employment, our experienced Tulsa staffing agency can help you. Contact Stand-By Personnel today to learn more or text ‘weldingjobs‘ or ‘skilledjobs‘ to 888-111.