As companies grow, oftentimes current employees end up suffering instead of growing with the company. Left forgotten or underappreciated, employees pick up sticks and move elsewhere. Everyone’s been there once or twice before, but this doesn’t have to be the way things are. Continue reading for six ways to promote employee retention during periods of growth.
1. Employee Benefits
From more flexible working options to free gym memberships or wellness days, employee benefits go a long way towards increasing staff morale and promoting retention, especially during periods of growth when employees may need it more. This is more focused on appealing to the current staff rather than to new hires, but employee benefits will inevitably have a positive impact on both. One way to encourage staff to engage with the benefits is to set up company life insurance that has benefits for employees.
Employees’ intentions to stay with their employer grow when companies focus on employee needs from inclusion and diversity to sustainability and reskilling. This ultimately comes down to listening to your employees and finding out what it is they want. Regularly communicate with every team member and ensure they’re comfortable discussing any concerns or wishes with you.
Similarly, communicate with employees to find out why they’re leaving. Ask them what if they feel overworked and underappreciated, underpaid or if they simply feel limited in what they’re doing within the company. Things will never improve if you don’t ask!
3. Opportunities For Training and Advancement
Giving employees opportunities to refine and learn new skills goes a long way towards promoting job satisfaction and in turn employee retention. Not only does this show employees that you as a business have an interest in their professional development, but it’s also highly effective in encouraging employees to remain with you.
So make time to regularly catch up with your employees and discuss their performance with them. Acknowledge their wishes to learn new skills or to brush up on their skills by putting a plan in place with them.
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4. Rewards Systems
It’s vital to employee retention that everyone feels seen and appreciated for the work they do. Make sure you take the time to thank your employees publicly and privately. Even if you’re a smaller company with a low budget, it’d be money well spent if you could take this a step further and set up an official rewards system for your employees.
5. Flexible Working Options
Having a healthy work-life balance is key to job satisfaction and offering flexible working options is just one way to promote this. In fact, a survey undertaken by Robert Half revealed that a third of employees working from home would rather look for a new job than return to the office full-time. This pandemic has changed a lot of things, particularly the way we work. Don’t be too quick to rush back to the way things used to be, talk to your employees and find out what works best for them.
6. A Healthy Working Environment
If you want employees to stay, they need to feel comfortable with the general working environment. Are the employees happy to work together or are there tensions? Keep an eye on the way staff are treating one another and see if you can pick up on any animosity. Like with everything, communication is key.