On one side where the hiring of competent employees can make your business reach success, a sudden resignation of an employee, on the other side, might have a great impact on your company’s growth. Are you a business who is in its early stages and is working hard for the growth and development of your organization? Well, it would be a difficult situation for you if any of your employees leaves abruptly. It’s not easy to find a replacement as it can turn out to be a costly affair for you. So, here are some of the effective ways to increase employee retention in this competitive business world.
1. Come up with the right company culture
A company’s environment should be such that an employee feels good and comfortable in the corporate culture created by you. Yes! The employee that you choose must match with the company culture in terms of the environment, colleagues, and work culture. No matter what kind of employee you hire, he/she must get engaged with your company’s culture strongly.
2. Choose the right candidates
While screening the candidates for a particular job position, make sure to keep a check on those who are willing to join your company just for the sake of experience which would give them another big opportunity. Instead, go for someone whom you feel dedicated towards the success of the company and is much more interested in growing with you. So, analyze their desires, and hire the candidates accordingly.
It’s good if you get an employee who is completely trained as well as certified in the required field. However, if you find an employee capable enough to do justice with a job profile, offer him an effective training. Doing so will not only make him trust you as an efficient organization but also motivate him to grow his career in your company
4. Offer guidance
Your job does not get completed once you hire a candidate for a job profile. Don’t you want your candidate to completely understand their job duties? So, spend some quality time in making them aware of the required job roles as well as responsibilities, so that they can perform them well. Or else, a confused employee might feel irritated and can begin to search another job where he acquires the detailed guidance regarding the job. So, all you need to do is offer regular feedback about the employee performance and clear the things to him that can help him enhance his performance.
5. Hire a candidate on hike
Though you find it difficult to pay competitive salaries with low funds and budget, think of a cost to replace employees. Replacing an employee might cost you around 30% to 50% of the employee’s annual salary which might prove quite costly for you. Give the candidate an assurance of acquiring good hikes and bonuses in the different stages of the project.
6. Don’t overlook talented staff
Organization, often, gives more attention to the employees who are struggling with their work. That being said, the talented group of employees, in this case, might feel neglected. So, don’t let them feel unnoticed. Let them know how you appreciate their hard work.
7. Be more flexible
Employees, usually, prefer to work in a flexible environment. If you want your employee to attend your client even on a holiday or apart from work timings, you must give him flexible working conditions. Understanding the needs of your employee will facilitate them to exhibit more dedication towards the accomplishment of your goals.
8. Other benefits
Employees expect various benefits that a company, usually, provide. However, if you find it difficult to compete with the big organizations, when it comes to all medical and other benefits do not worry. You can come up with the type of benefits that no one else offers. Allow your employees to work from home, give them flexible holiday offerings, and last but not the least, bonuses based on the performances.
9. Offer unique perks
Bring in the unique perks that can give employees a benefit they can’t get anywhere else. For instance, incorporate free meals, nap pods, and come up with more creative perks that can make them believe in your corporate culture. Moreover, let your employees get free tickets to some special occasions or discounts at some shopping, etc.
10. Don’t push yourself too hard
Apart from all the ways discussed above, at times, the employees, apart from the attractive company culture, don’t sustain in the company due to their bosses. Yes! Sometimes, the employees tend to quit due to their bosses. So, create an environment where employees feel rewarded and pleased!
So, by now, you must know that improving employee retention is not that difficult. Just connect with all your employees and know what issues are they facing in terms of working environment, flexibility, or any other issue. Understanding all their needs will motivate them to stay with your organization, thus making your business thrive.
All you need to do is look for the staffing companies that can provide you with reliable and dedicated employees. One of the IT staffing firms, that is known for providing efficient staffing services in the IT staffing industry is Mamsys. The company is a known name in the staffing services industry, and will assure you the employees that will be there in your company for a long period of time.