Hiring the perfect candidate is only the beginning. The trick is to get them to stay.
All business owners know that hiring the right employees is essential to their success. However, bringing in the best talent won’t improve your productivity and help your business grow if your employees quit shortly after they are hired. In fact, high employee turnover often contributes to business stagnation and failure. Use these five tips to improve employee retention and help your business reach its full potential.
1. Create a solid onboarding process.
The onboarding process is designed to make sure that new employees feel welcome at the company. It helps them to assimilate into the culture of the workplace, understand their responsibilities, and take advantage of any benefits you provide. A strong onboarding process makes a good first impression on your new hires, and it increases the likelihood of them settling into the job for the long haul.
2. Offer training to new employees.
Many employers expect their employees to come in with all of the knowledge and skills they need to hit the ground running. However, even though your employees may be trained to work in a given field, many positions require skills that cannot be learned in advance. Offer every new employee the chance to train for his or her new responsibilities so that he or she can feel confident from the first day.
3. Pick the right supervisors.
One of the most common reasons cited when an employee quits a job is ongoing conflict with a manager. Make sure that your employees are being treated fairly and provided with the support they need by choosing the right supervisors. Monitor your supervisors’ relationships with employees, and allow employees to provide anonymous feedback so that you can be sure your supervisors are representing your company well.
4. Provide opportunities for advancement.
Your employees want to feel like they are working toward something better. Be sure to provide every employee with opportunities for growth and advancement. Examples include chances to be promoted and opportunities for continuing education.
5. Recognize employees for a job well done.
Employees who feel like their work is appreciated are not only more likely to remain with the company, but they are also more likely to continue delivering the same level of effort as time goes on. When an employee is doing his or her job well, reward him or her with public recognition and/or tangible awards.
These are just a few of the strategies you can use to boost employee retention. Look to these other tips for 10 more ways to retain your employees. Regardless of which strategies you choose, always remember to track employee retention trends so that you can identify problems quickly and continue to improve over time.