Do you have a high employee retention rate all the time? Aren’t you able to scare your employees off even if you try? Congratulations, it is a good sign for you. But as per George Goyal from Houston, many of the businesses see a high employee turnover rate as a problem and they always wonder as if what to do to retain the most valued employees or workers.
In the continuously increasing competitive business world, talent is always high on demand. If you cannot make your top workers happy, another company or may be your competitor may come along to steal them from your company. George Goyal Houston brings you a few tips to help you ensure that your employees stay connected to you for many years.
Create right culture
If you are finding the employees who have a strong bond with your company, you must start by creating an environment to attract such employees. The company culture must match the types of hope of the employee you wish to employ. It depends on you whether you opt for a by-the book, casual, strict or a laid back workplace atmosphere.
Hire right employees
As you screen the candidates for making employees, you must pay a close attention to the signs that one must have as a job-hopper. There is nothing wrong in a person who keeps switching jobs for the career advancement but you must look for someone who wishes to grow with your company rather than taking the experience to go somewhere else.
Businesses always expect their professionals to be fully certified and trained. Yet too many businesses are never willing to invest in help such professionals to maintain those credentials. Whether you provide the membership to the employees of the e-learning sites available online or send them to learning center it is always a plus. When you take their education seriously, they see it as their investment in the career opportunities.
The employees should always be fully aware of what their duties are and how they are doing in performing them. You can do it but having a job plan and providing regular feedback on the employee’s performance. If employee get confused regarding his or her role in the organization, he is more likely to get bored and as a result begin search for something else.
It is a bit difficult to pay competitive salaries when the funds of the organization are low and the budgets are tight. You must calculate the cost to replace the employees as it can cost 30 to 50 percent of the entry-level employee’s annual salary to replace him. Employees often feel that they can enjoy a 10 to 20 percent increase in salary simply by moving from one company to another and hence jumping shift has become more attractive.
Never punish competence
Managers often spend their time on employees who struggle a lot leaving behind the talented ones getting neglected. Over time, it can lead to resentment because the star or talented employees start feeling unnoticed and unsupported. Hence, managers must take efforts to let the talented performers understand that their hard work isnt going unnoticed.
Be more flexible
Workers express a preference for flexible working situation rather than the strict ones. If you expect the best from your employee, and wish him to answer a client’s call even at sever o’clock on Friday night, you even need to understand his situation when he/she comes in late to the office in the morning or need to take off early.
Small benefits often struggle a lot to compete with the larger organizations in providing benefits. If you cannot beat big businesses in the healthcare options they provide, you can start offering something that the employees won’t get anywhere else. Such a list includes the ability to work from home, flexible vacation offerings or performance bonuses.
Provide unique perks
Another way how businesses can compete without affecting the budget is by offering the perks the employees cannot get anywhere else. Some of the companies are known for their free meals or the nap pods but you can also try to increase the retention by launching up more creative perks. You may try to use the connections to get free VIP tickets for the special events or the special discounts at the local stores.
Don’t take yourself too seriously
As much as you try to make your company attractive to the talented people, truth is many of the employees might leave due to their bosses. Most of the research shows that many of the employees tend to quit their bosses and not companies. If you already have planned and designed an atmosphere where employees feel gratified and rewarded, you are already ahead of the list of other bosses.
If you wish to have a talented employee for a longer time, you need to increase the employee retention rate and decrease the employee turnover rate. Hence follow these guidelines by George Goyal Houston for the betterment of your workplace.