Tips to Increase Employee Retention

February 18th, 2013

No company has a 100 percent retention rate. It’s impossible. Yet, the average cost to hire and train a new employee is $57,698 per person! A constant revolving door of employees wrecks havoc on a company’s bottom line. That’s why hiring the “right” people from the get go is critical.

But hiring the right people is easier said than done. (P.S. ABR can help you with that.) From there, it’s worth recognizing that each employee may be motivated by something different. There isn’t a one-size-fits-all solution. But we do have some ideas for your organization to consider:

1. Offer Some Perks

More importantly, offer something that fits your employee’s needs. Something as small as “Donut Wednesdays” or discounts to a local gym can improve morale. If you can offer something that saves your employees time, or reduces stress, even better! Try partnering with a local maintenance shop that will offer oil changes in the parking lot. Or enlist a local traveling masseur and offer 15 minute lunchtime chair massages. Get creative. Consult your local chamber of commerce website for more perk ideas.

2. Promote from Within

Employees stay when they see a future. And they’ll be much more likely to see a future if they see their coworkers and bosses climbing up the ladder. When hard work and dedication is rewarded – and there’s a visible payoff – others will want to put in their time and follow suit. Ask bosses to discuss and revisit their employee’s long-term career plan twice a year.

Foster Open Communication

When your employees know they can be heard, they will feel respected and wanted. Whether it’s a comment box, a bi-monthly meeting, or an open-door policy, encourage your employees to speak their mind. Ask them to suggest solutions to their problem and don’t let these inquiries go unanswered.

Create Contests and Incentives

Everyone loves a little competition. Reward the highest performer in your sales force or the department that brings in the most canned goods for charity over the holidays. Or create quarterly goals for individuals or teams. The incentives don’t have to be large – simply working toward them is part of the fun. A free lunch – heck, even a free coffee – can motivate someone to succeed.

Consider Employee Development

Think about offering on-site classes that can further your employee’s careers. That includes anything from technical skills that are directly relevant to their position to communication workshops that are applicable to both work and home life. When you’re willing to invest in your employees, your employees know you care.

Empower Your Employees

You want your employees to succeed, but you also want them to learn. So don’t be afraid to switch up mundane work with something more difficult. If a worker is challenged – maybe even with an assignment slightly above their ability level – they’ll be pushed out of their comfort zone. It may be scary for the both of you, but your employee will further develop his abilities, which helps the both of you in the long run.

See our ‘Employee Retention Tips‘ board on Pinterest and read our other pieces on how to encourage productivity in the workplace and employee happiness.

What does your organization do to help retain employees? Submit your comment below.

 About ABR

ABR Employment Services provides employment opportunities to job seekers and staffing solutions to employers throughout Wisconsin. ABR provides temporary, try-before-hire and direct hire job opportunities in: customer service, data entry, receptionist, office assistant, administrative assistant, assembly, packaging, machine operator, warehouse, janitorial, CNC, welder, forklift, maintenance, and call center. Connect with us on Facebook or LinkedIn for job seeking tips and advice. Have an overlooked job search resource to share? Tell us about a job hunt resource you used successfully below.

 

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