Increasing employee retention benefits businesses in several areas. It saves recruiting costs and time and can boost company morale across the board. Here are some tips to reduce employee turnover.
The Hiring Process:
Look at all aspects of the candidate. Don’t assume the candidate with the Ivy League degree and computer skills. How do they interact with others? Are they friendly? Engaging? Easy to work with? Are they willing to work the long hours needed? How will they fare in your company’s collaborative team environment? How a candidate fits into a company’s culture and work style can be just as important as their qualifications.
Retaining current employees:
Input & feedback. Ask your employees what they think! Not only will employees feel valued and appreciate that you are listening to their opinions, you could get some great insight you might not otherwise have thought of. And communication goes both ways. Take the time to provide regular feedback to employees. They will appreciate the time you are investing in them and will repay you in the long run.
Employee benefits. Offering employee benefits is a crucial tool in increasing employee retention. Many employees cite benefits as a top reason for staying with a company, even over salary. Providing group benefit plans, wellness plans, and group health plans are great resources to boost employee retention.
Perks & policies. Slightly different from benefits, offering employees perks can help boost morale and keep them engaged and motivated at their job. This doesn’t have to be expensive, Google-like promises of free lunches, fantasy-like workspaces and tech gadgets. Rather, even flexible workplace policies, monthly staff lunches, or extra vacation days can make the difference in increasing employee retention.
Sinclair Risk & Financial Management works with companies of all sizes to design and implement Wallingford CT Group Benefits Medical options that rethink the traditional way of offering benefits and meet the financial needs of employers while also addressing the choices and flexibility employees want. Contact us today for more information (877) 602-2305