Employee retention has been a big talking point among HR professionals over the last several years. Business is competitive, and companies need to be sure they are retaining their star employees. Happiness and engagement are top priorities for workers, and if they’re not satisfied, they will seek that working relationship elsewhere. So how can you create initiatives that focus on employee retention? Here are a few things you can do starting now.
Review and Improve Onboarding Procedures
The first 90 days on the job are crucial. An employee develops their opinions about the job and the company in these initial days. That’s why onboarding is so essential to employee satisfaction and retention. Inadequate training or not providing insight into your company culture can cause employees to leave before they get started, which can cost your company a lot of money.
Develop an onboarding program that encourages new employees to feel more comfortable in your environment and on the job. Train them in the duties along with your company values, mission, and culture. Mentorship programs can help integrate new employees with your experienced team.
Provide Regular Performance Feedback
Dissatisfied employees often cite a lack of feedback or feelings of gratitude from their bosses. You need to provide feedback early and often if you expect your employees to improve performance. But don’t only focus on improvement. Provide positive feedback on the things they’re doing well. Gratitude goes a long way for making your employees feel valued.
When providing performance feedback, always give actionable items. Let them know how they can improve and provide positive reinforcement along the way. Make sure you don’t only communicate with them when something is wrong.
Develop Incentives to Reward Employees
Employees crave recognition. While gratitude goes a long way, providing rewards for a job well done will also send the message that you value your employees. You can do tangible things to offer incentives to your team members, including gym memberships, flexible schedules, additional PTO days, or work-from-home options.
There isn’t a one-size-fits-all solution for the kinds of incentives you can offer, so choose things that work with your company culture and the type of business you do. This can not only improve employee retention but also attract top talent whenever you need to hire.
What can you do to improve retention starting today?
Work with the staffing professionals at The Vision Companies today. Visit our website and talk to us to see how we can enhance your hiring process and work environment!