Employee retention is a key issue for employers in 2022. According to a recent study conducted by Zenefits, approximately 81% of companies claim that the high turnover rate of employees has become a very costly problem in recent years. This statistic shows that improving employee retention in many ways has become increasingly critical of their working conditions. They want a healthy and flexible work environment. They also aim to keep what was allowed during the pandemic, just like telework.
Of course, you need to question your teams regularly to ensure their well-being and motivation at work. However, informed decisions still need to be made to make real improvements to the continuous employee experience. You will show your colleagues that their opinion is heard and validated: a remarkable trait for a quality employer.
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How can you ensure the attraction and retention of your staff? What are the main retention factors for your employees? To enlighten you on the subject, in this article, we offer you 10 relevant ways to improve employee retention.
Why is employee retention important in business?
Employee retention is defined as an employer’s ability to retain talent. This is a process to put in place relevant retention strategies to maximize the engagement of existing employees by improving their working conditions and their continuous experience.
Why is it important to keep your talent in the business? According to Gallup’s study, many statistics prove the importance of improving employee retention in many ways. In addition, companies with teams committed and motivated to their work will have on average:
- 81% less absenteeism;
- 64% fewer accidental accidents at work;
- 18% less employee turnover rate;
- 28% less steals;
- 10% more commitment from customers;
- 18% more sales;
- 23% more income.
In terms of retention, it’s important to remember that a committed and motivated team at work will be ready to give their best to ensure the success of your business. Be proactive: provide your employees with an experience that meets their expectations to retain your talent while providing memorable service to your customers!
10 ways to improve employee retention
While talent retention is a critical factor in the proper functioning of your business, it can be difficult to fully understand the issues surrounding it. After all, every human being has different needs. In these terms, how can you ensure the attraction and retention of your current staff? To help you, here are 10 ways to improve employee retention to maximize the loyalty of your current employees.
1. Have a clear and dynamic onboarding process
Did you know that according to SHRM, 20% of recruits leave during their first month in a new company? In that sense, it is clear that your onboarding processes is one of the best ways to improve the retention of your new employees!
In order to welcome your new employees, pay special attention to them. For example, you could:
- Plan the schedule for the first few weeks in advance to ensure they have a good understanding of the tasks required;
- Offer a welcome gift to celebrate their arrival in your company;
- Set a time to introduce them to the rest of your team;
- Take some time with them to introduce them to the company, your organizational objectives, your values, and your aspirations;
- Explain in detail what their position and assigned duties are;
- Organize weekly meetings with their manager to ensure rigorous monitoring of their integration within your company;
- Send satisfaction surveys for new employees to ensure their well-being at work during this onboarding period.
Keep in mind that good onboarding processes are a good way to improve your new employees’ retention. It is during this time that they will develop an image of your brand, your organizational culture, and your company. Plan in detail how to welcome and onboard your recruits to ensure their well-being within your organization. If you need help, please feel free to use our free french onboarding checklist!
2. Ask your most loyal employees and find out what they like about you
According to Gallup, 85% of employees are disengaged from their work. Although it is a majority, it is wrong to think that all your employees are demotivated. Analyzing one’s strengths as an employer is not ignoring what is going wrong, but rather seeing both sides of the story. On a positive note, take the time to evaluate what you are already doing well to continue in this good way. To do this, why not ask your most loyal employees to find out what they like about you? This way, you can rely on their answers to put your best assets forward on your job offers as well as your social networks. These arguments, based on your company’s values, are a great way to attract talent, but also to recognize you. Such HR marketing will benefit the attraction as well as the retention of your staff!
Also, if they particularly like one aspect of their work, why not improve it? Process optimization, better internal communication, teammates of choice, division of tasks according to the various specializations of your colleagues: there are many ways to continuously improve the experience of these valuable ambassadors. Such optimization will show your employees that their well-being is at the center of your priorities. This is definitely a good way to improve employee retention!
3. Evolve your benefits over time to stay competitive
In this period of salary increase, it can be particularly difficult to become a top employer. The competition is fierce and the talents will certainly be attracted by the company having the best advantages and working conditions. In this regard, it is important to regularly question your teams in order to establish working conditions and benefits that will distinguish you from your competitors!
According to Future Forum (Slack), 76% of employees want flexibility in their working hours. Moreover, according to the same source, 93% of employees want to have flexibility in relation to their workplace. In this sense, one of the many ways to improve employee retention is by offering competitive working conditions! For example, you could offer:
- A competitive and adapted salary according to the position held;
- Bonuses based on the individual performance of your employees;
- A flexible schedule;
- Many paid holidays;
- Drug and dental insurance;
- An Employee Assistance Program (EAP);
- An RRSP for employees;
- Reimbursement of gym fees;
- In case of telework, a free computer, paid internet access and a refund of your employee’s cellular plan;
- And more!
Remember that flexibility is above all a sign of empathy. Excellent working conditions will soon attract talent to your company. Definitely, it’s one of the best ways to improve employee retention in your organization!
4. Recognize the efforts and work of your employees
Did you know that recognition is one of many ways to improve employee retention? According to the study conducted by Psychology Today, 83% of employees consider work recognition more motivating than rewards or gifts. How can you improve employee recognition at work in order to better retain your talents?
Here are nine tips to show your teams how much you appreciate them:
- Put your best employees forward on your social networks;
- Highlight the good work of your employees during group meetings;
- Provide specific and detailed feedback;
- Share with your teams the successes highlighted by your satisfied customers;
- Organize recognition activities frequently (suppers with colleagues, team-building activities, draws, etc.);
- Celebrate the anniversaries of your colleagues in the office;
- Pay little attention to your employees;
- Recognize the personal achievements of your employees;
- And more!
Employee retention is defined by your ability to deliver a high-quality employee experience. To achieve this, make sure that each of your colleagues feels pampered and appreciated within your organization. Such recognition demonstrations are certainly a good way to improve employee retention at work!
5. Create a positive climate culture
Of course, one of the best ways to improve employee retention is to create a positive work environment based on respect, trust, and collaboration. With this in mind, take care to create positive energy to show your employees that they are respected and appreciated within your company.
Encourage your colleagues to share frequently, set up times to celebrate your employees’ successes, and reward your employees for their efforts. A cohesive team will be much more efficient and motivated at work: it will be ready to give the best of itself to ensure the success of your company. Similarly, employees who feel the flexibility, empathy and respect of their employer will be more likely to stay in the same company for the long term. Keep these valuable tips in mind when thinking of ways to improve employee retention in your organization!
6. Encourage frequent exchanges between colleagues
Employee retention is defined by your ability to retain and motivate your talent in the workplace. In this sense, a good way to improve your employees’ retention is therefore to maintain quality relationships with their co-workers.
According to a study conducted by Wildgoose, maintaining a friendship at work has several benefits for employees:
- 57% say it makes work more enjoyable;
- 12% confirm that this would discourage them from leaving a company;
- 22% are more productive at work;
- 21% are more creative at work;
- 21% find this has helped them through a difficult time in their personal lives.
Definitely, these statistics prove that links of qualities are an excellent way to improve employee retention! In that sense, how can you encourage your colleagues to make friends at work?
Here are seven ideas to promote quality exchanges at work:
- Organize regular outings between colleagues;
- Give priority to team-building activities;
- Set up group meetings to discuss personal life successes;
- Create a pause space dedicated to your exchanges between colleagues;
- Plan meals with colleagues for more relaxed and less work-related discussions;
- When working from home, set up regular virtual calls to check in with your teams;
- Foster an organizational culture of respect and caring to foster healthy and friendly relationships in the workplace.
A cohesive team will be more committed to the work, in addition to offering a high-quality service to your customers. This is one of the many ways to improve employee retention and customer loyalty!
7. Send surveys to target satisfaction of your existing teams
Did you know that according to Gallup, 52% of companies say they could have implemented relevant solutions to convince their employees who have resigned to stay in their organization before it’s too late? This employee retention statistic demonstrates that it is important to survey your staff regularly to ensure their engagement to your organization!
To avoid your employees leaving, ask them regularly about their job satisfaction. Recognition, relationships with colleagues, relationships with managers, professional accomplishment, satisfaction with tasks completed: there are many metrics related to the well-being of your teams.
With a solution like InputKit, you can target employee dissatisfaction so you can act quickly before it’s too late. Be proactive: learn more about the flaws in your employee experience to rectify the situation. Informed decisions based on the concrete needs of your colleagues will certainly show them that you care about their well-being. This is an excellent way to improve employee retention within your company.
8. Establish an employee retention committee
Of course, not every employee you hire is loyal to your company on their first day. After all, loyalty is a long and complex process influenced by many factors. That’s why, to ensure the well-being of your teams over the long term, it may be useful to set up an employee retention committee!
To achieve this, form a team of employees with a variety of roles within your company. For example, it is important that someone from the HR department be part of this committee. Why not also reach out to colleagues on other teams to get more visibility on motivation and retention across your teams? By involving your committee in your decisions, you will have a better overview of the priorities to bring to your employee experience. This way, you can ensure the well-being of your teams while maximizing their motivation at work. This is definitely one of many good ways to improve employee retention!
9. Keep your employees informed about your business
One of the worst things for an employee is to never be kept informed of the progress of the company they work for. Never knowing an organization’s next goals or progress can be extremely discouraging for your colleagues. They will feel lost, abandoned, and forgotten by their managers, as well as not knowing where to focus their efforts.
According to Gallup’s study, 70% of employees are more committed to their work when they are led by proactive managers. In that sense, always take the time to properly inform your employees, both at organizational meetings and at employee performance evaluations.
During organizational meetings, explain in detail your next objectives as well as future changes within your organization to better prepare your teams. By notifying them in advance, they will be able to better understand the priorities of your future objectives and act accordingly. If needed, they can also provide you with their perspective based on their assigned role to provide you with a better overview of the changes to be made. This is a critical way to improve employee retention!
In your performance evaluations, provide specific and detailed feedback to your employees so they know what needs to be improved. Focus on the positive to show your appreciation and recognize the successes of your colleagues. This will encourage them to provide your customers with the best possible service. Keep this tip in mind when you’re thinking of new ways to improve employee retention!
10. Give your employees the right tools to succeed
Are you wondering about the ways to improve employee retention? If so, know that your teams must first feel invested and involved in the tasks requested. What better way to do this than to provide them with the right tools to support their professional learning?
According to LinkedIn Learning, approximately 70% of employees consider professional learning as an important factor in job retention. With this in mind, take care to encourage the professional development of your employees. For example, you can:
- Invite them to conferences related to your industry’s area of expertise;
- Provide them with powerful technological tools (computer, tablet, etc.);
- Enroll them in continuous training to refine their professional knowledge and help them specialize in certain tasks;
- Encourage them to participate in organizational meetings to ensure they have a good understanding of the tasks required.
Remember that by giving your teams the right tools, you’re giving them every chance to succeed. An employee feeling gratified and accomplished professionals will be much more motivated and committed to their work. Keep this valuable advice in mind when you want to learn new ways to improve employee retention.
The many ways InputKit can help you improve employee retention
ith a solution like InputKit in your company, you can count on many ways to improve employee retention. For example, our turnkey employee performance assessment and improvement solution allow you to automatically share positive feedback from your satisfied customers with your employees. With this feature, you can motivate your teams to ensure optimal performance while showing them how grateful you are for their good service. With InputKit, optimize your reputation as an employer to attract and retain many talents within your company. This will have a positive impact on your employee retention!
In addition, InputKit will soon allow you to send satisfaction surveys for employees. Be proactive: With these surveys, you take action based on the real needs of your colleagues to continuously improve your employee experience. Onboarding surveys for new employees, exit interviews, assessing relationships between colleagues and managers, and more: take advantage of our many templates to get the straight facts about your staff’s job satisfaction. Such responsiveness as an employer will certainly set you apart from your competitors. Showing your teams that their well-being is a priority is definitely one of the best ways to improve employee retention!
For your business, it is crucial to regularly find new ways to improve employee retention. Keep in mind our top ten ways to improve employee retention in your business!
Set up great onboarding processes for recruits, then question your teams through employee surveys. Leverage your satisfied employees as ambassadors to promote your employer brand. For dissatisfied employees, take the time to listen to them and implement optimizations as soon as possible.
Optimize your benefits and working conditions to stay competitive while improving your continuous employee experience. Demonstrate regular recognition, including building an organizational culture of caring, communication and respect. Set up an employee retention committee to identify priority areas for improvement and quickly resolve work-related dissatisfactions among your staff. Finally, give your teams the right tools to succeed. State-of-the-art equipment, proactive managers, information sessions, high-performance CRM, organizational meetings, and continuous training: Ensure good communication from your internal colleagues and professional learning from your employees for an optimized and unique experience. Follow these many tips to learn new ways to improve your employee’s retention at work!
Now, do you need external help to improve your employee experience? If this is your case, we invite you to schedule a completely free and personalized demo of InputKit at your convenience. Our experts will certainly help you create an unforgettable employee experience to attract and retain talent in your company!
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