During this time of the pandemic, it is quite simple to boost employee retention rates. The goal is to create an environment where your employees look forward to going to work every day. Here are some important employee retention strategies:
- Offer flexible working hours – Technology allows people to work odd hours or even remotely. Flexibility will give your team the work or life balance that they want.
- Honest communication – Always communicate. Tell your team about the current situation of the company so that they can also contribute to their part.
- Teamwork – When people work together, make sure everyone, not just your team’s members, has a chance to contribute ideas and solutions. Further, foster a culture of collaboration by accommodating individuals’ working styles and giving them the freedom to make smart decisions.
- Onboarding and orientation – Every new hire should be set up for success from the very start. The onboarding process will teach the new staff members not only about the job but also the company culture and how they can contribute and thrive.
- Work-life balance – A healthy work-life balance is essential to job satisfaction, and people need to know that their managers understand they have lives outside of work.
- Be a leader – People follow leaders, while they abandon bosses’ this is important to remember. Handle difficulties within the organisation so they don’t impact their team’s ability to get work done.
- Health benefits – Health insurance cover is a valued employee benefit. If you have employees who work abroad in ex-pat roles, consider providing international health insurance coverage so that they can access the healthcare whenever required.
- Performance appraisal – The performance appraisal is a formalised process to assess how well an employee does his or her job. It can contribute to employee retention because employees can gain constructive feedback on their job performance, and it can be an opportunity for the manager to work with the employee to set goals within the organisation.
- Appreciate – Showing your appreciation and recognising a job well done will show your team that you respect and value them.
- Provide space for development – Contribute to the worker’s development so that they can improve their work performance.
Communication is the key. Different organisations have different employee retention strategies. What is the employee retention strategy at your company?