How to Improve Employee Retention Rates

February 19, 2014 at 10:00 PM by Kathleen de Lara

employee retentionNobody likes a stage five clinger.

In the recruiting world, however, these are the best kinds of clingers. Stage six? Even better.

In December 2013 alone, there were over 4 million turnovers in the United States. Are any of your employees one of them? Check out these strategies to making sure your top performers stick around.

Communicate thoroughly and frequently.

Frequent communication is vital to a company’s success. Not only does checking in with your team members encourage transparency and discussion, but it also offers an opportunity to give and receive feedback, track progress, and to confront conflict and resolve issues as soon as they arise. Don’t leave it at that, however. Regular meetings are suitable for delivering the praise an employee deserves, which takes us to our next point.

Remember the three Rs: Realize, Recognize, Reward.

While it can be slightly overbearing to flower your employees with compliments every day, letting them know you’re a fan of their work with a brief, subtle message or remark goes a long way. Contributing quality work and completing tasks is standard because it’s all part of the job, but it’s easy to spot the worker who contributes above and beyond their expected quota. Making note of employees’ work lets them know what that they’re doing right. Many individuals tend to forget that at the crux of it all, they were hired to help you become more successful. Realize the effort, recognize the feat, and deliver the reward.

Nurture your employees from the get-go.

The onboarding process is a prime opportunity to train employees to be optimal team players on the job. During this period, properly introduce new hires to your company’s processes, routines, and a few of the members they’ll be working with. These kinds of initiation practices helps a candidate feel at ease with their role, organization, and colleagues, which in turn, boosts their job satisfaction, performance, and reduces stress. You may ask, “Well, what are they gonna do with all those extra endorphins?” Not quit on you, that’s what.

If it’s time to part ways with an employee, be civil.

People talk, and bad news spreads around faster than good news. Burning bridges with an employee who’s no longer a good fit for the team can hurt your company’s brand and your reputation as a leader. Mutual breakups are okay — just do so in a friendly manner. That way, when the time comes to start searching for talent to place, you’ll have a connection in the industry who can either help you find potential hires or prospective customers.

Instill a high job satisfaction in your employees now, and experience the rewards in significant volumes in the company’s future. That kind of energy is infectious and will overall, boost your team’s drive to work collectively, surpass goals, and to stay. Take care of your employees and you’ll fortify a long-term connection geared for great success.
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