How do the best companies keep their employees?
This is an excellent question and one that you should not ignore when planning the way forward for a business.
When it comes to the human assets that a company works with, employee retention is everything. Good employees are the backbone of a business, and keeping long-term people helps with everything from cost to customer relationships.
High turnover, on the other hand, can threaten to plunge a business into the red, and into all sorts of despairing situations. You want to attract the best talent, and retain people that can help you guide your company into the future.
Why not rely on a multi-stage system of employee support to make sure that employee retention strategies are in place? Here’s something we’ve found helpful as a company helping with staffing services in Ontario, California.
Build In Incentives
One of the most simple and direct ways to promote employee retention is to make sure people have incentives to work at your company, and that they have reasons to love working there.
It’s all about giving back to the people that make the company run. Incentives can come in many forms — things like end-of-the-year bonuses are incentives. So are stock options. But incentives can also be company perks like vehicle use, or appreciation events, or a gift card for getting through a tough shift. All of these things play a very central role in letting employees that are valued, and that they have an engaged relationship with the company, which keeps them interested and loyal.
Professional Development
Another way to keep employees is to invest in professional development. In today’s high-tech, high-pressure job world, people often gravitate towards companies where they know they will earn skills and be able to advance.
Your company works within a particular industry that has its own skills and credentials — so enable your people to work toward those things while they’re working for you, not for someone else. The opportunity to attend conferences and trade shows is part of professional development — so is continued education in a particular role, and even financial help with a goal to go back to school to get a better degree in a particular field. All of this can help with employee retention and better position your business.
Participation and Communication
When you’ve put in place simple incentives and helped your employees to get access to professional development, you can turn toward yet another piece of this puzzle — which is participation.
The best companies, the ones that do best at employee retention, are those that make communication a two-way street. They allow for things like direct employee feedback and suggestions. They allow employees work and interact with their work spaces creatively. They give people the freedom to do their jobs in the ways that they think are most effective. Although some managers see this as a negative, as giving control over to those beneath them, some of the best companies around see it as a way to get people more involved, and also to benefit from a broader kind of business intelligence as the company grows and expands.
About Full Steam Staffing
Full Steam Staffing is a full-service staffing agency focused on providing clerical and light industrial staffing solutions to manufacturers, distribution centers and other organizations that need qualified, reliable workers. If you are currently looking to hire and grow your workforce, contact our team of skilled recruiters today!