Employee retention strategy should be every organization's list of top priorities and creating effective retention strategies to decrease turnover should be one of management's most important jobs. Read on in this article my tips on building strategies that can be useful for your company.
All employees are different, and each has unique necessities and goals. But it's important to assume that all of them want to know they are being paid at or above market rates and have reasonable benefits. They want to feel that they are appreciated by company they work and treated fairly.
1. Pay. So, as I mentioned before, successful organizations retain employees with a fair, equitable, and competitive pay system.
2. Job Satisfaction. You need to design the job and the work environment, so your employees feel productive, engaged, and challenged.
3. Work Place. It is highly important to work in a pleasant place. You can’t imagine how the employee can be productive if the place fits right. Create attractive work areas that support job function, efficiency, and productivity. Office must have window, enough space, etc.
4. Reputation. People want to work at a company with a positive reputation and public image.
5. Work-life balance — What about work-life balance in your organization? If your staff are expected to regularly work long hours and be at your beck and call, you'll likely have big issues with employee retention. With such a tactic a stuff burnout is going to happen. A healthy work-life balance is fundamental, and employees must to know that company understands its importance. Encourage staff to take vacation time, and if late nights are necessary to wrap up a project, see if you can offer late arrivals or an extra day off to compensate and increase job satisfaction. Many companies offer telecommuting or flexible schedules to improve work-life balance for their employees. In some cases, even to work from home can be a good idea to decrease employee’s stress and reduce time on commuting.
6. Rewards systems — Every person wants to feel appreciated for what they do. Make it a habit to be thankful to your employees when they made good job, whether it's with a sincere email, a gift card or an extra day off. Show your employees you appreciate them and share how their hard work helps the organization.
These strategies will guarantee your organization’s success reducing turnover and keeping employees.
Have you ever thought about employee’s retention? If you have such problem, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.