5 Ideas To Improve Employee Retention

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Employee turnover is costly and frequent turnover can negatively affect morale. If you want to reduce turnover and retain the best staff you’ll need to create an employee retention plan. There are many benefits of employee retention including increased productivity and improving company culture. To help to build your employee retention strategy, focus on these five ideas.

1 . Employee benefits

Offering employee benefits is one of the best ways to improve employee retention. Some of the most common employee benefits include health insurance, life insurance, retirement accounts, and childcare support.

Other desirable employee perks include wellness programs, on-site gyms, sponsorship and training, and student loan support. There are lots of ways that you can get creative with your benefit schemes, using these perks to attract the best talent. 

2. Provide flexibility

One of the top reasons that employees leave companies is due to a lack of flexibility. An inflexible work setup takes many forms whether it’s rigid hours or overbearing managers. Offering flexibility is about helping your employees to create the perfect work-life balance. Here are a few tips to help you do that:

• Allow employees to have some control over where they work and their shift patterns.
• Permit employees to work their schedules around family commitments.
• Set up autonomous teams, offering staff independence.

3. Focus on wellness

If you want your company to thrive you’ve got to focus on employee wellness. For example, you might consider providing employee wellness programs. These are usually software programs or apps, allowing staff members to work through various wellness modules, and set goals. Typical wellness modules focus on areas like physical health, mental health, and financial health. Other wellness support ideas include:

• Run mental health support workshops.
• Check-in with your employees regularly
• Help staff to give back to the community.

4. Improve your company culture 

Unless you build a positive company culture your employees are likely to jump ship. To create a positive company culture there are lots of things that you can do:

• Remove hierarchies where possible, help everyone to feel equal.
• Provide employees with a chance to bond with their colleagues.
• Use employee recognition software to celebrate everyone’s achievements.
• Focus on inclusion and diversity.
• Create joint values as a team.
• Ask for staff feedback and use this feedback to improve your culture.

5. Enhance your working environment 

Creating the right work environment is vital. You’ll need to design a comfortable and attractive space where your employees can relax and be happy. Choose spacious and attractive work cubicles and desk spaces, decorate with brightly colored artwork and plants. Create a healthy space using eco-friendly features and practices. Studies show that improving your work environment can help to improve staff performance.