It Matters: Effective Yet Overlooked Employee Retention Strategies

PhenomenalMAG Staff  |  Business Savvy

When one person resigns, no one really notices, but when multiple people begin to follow, red flags begin to fly.

Resignations have now become a manager’s nightmare. Not only do you have to find a talented replacement, but you have to consider the immediate stress it places on other team members. In order to decrease turnover, employee retention and job satisfaction should always be at the top of an organization's agenda.


There are several key areas to improve employer-employee relations within an organization, as some of which deserve immediate attention. Here are six ways to do so:


1. Onboarding and orientation — Every new hire should be set up for success from the very start, from the first day of work, and beyond.


2. Mentorship programs — Pairing a new employee with a mentor is a great idea for onboarding. New team members can learn the ropes from a veteran with a wealth of resources, while the new  hire offers a fresh viewpoint  to experienced staff.


3. Employee compensation — It's absolutely essential in this competitive labor market for companies to  offer attractive compensation packages. That not only included salaries, but also bonuses, paid time off, health  benefits, retirement plans and all the other perks that can distinguish one workplace from another.


4. Recognition and rewards systems — Every person wants to feel appreciated for what they do. Make it a habit to thank your direct reports when they go the extra mile, whether it's with a sincere email, a gift card or an extra day off.


5. Work-life balance — Burnout is real. A healthy work-life balance is essential, and people need to know that management 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.


6. Fostering teamwork — When people work together, they can achieve more than they would have individually. Foster a culture of collaboration that accommodates individuals working styles, one where the work shines.


Though these are great strategies to implement within your business culture, it is also imperative to review and revise your employee retention strategy at least once a year. Gather feedback directly from the source by keeping the lines of communication and doors open -- it gives you a chance to stay current on your team’s progress, needs, and concerns. This is also an awesome way to make your employees feel included in the decision-making process, show them that their feelings and thoughts are being heard and considered, and to show them that they are the company’s most valuable asset.

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