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Retaining Employees: A Basic Guide
During 2020, the turnover rate for jobs was more than 57% in the United States? Many factors contribute to these high rates of people leaving their jobs for better opportunities. If you want to attract and maintain loyal staff, you must be willing to meet them in the middle. Continue reading to discover some of the best tips for retaining employees so that your business can be successful!
Offer Good Pay & Benefits
One of the most important things you can do when retaining employees is offering good pay and benefits. Most people accept a job once they have had a lengthy discussion about their pay rate and benefits that come along with the job.
If you are only offering minimum wage, or below the average pay in your area, you run a higher risk of turnover. Some businesses recommend using an employees card to make the payment process simpler.
Set Clear Expectations
Learning how to retain employees will be impossible if you don’t set clear expectations for staff. Before hiring an individual, you should have a clear vision of the role and responsibilities one must take on. These details will be presented to potential staff and discussed at length before hiring.
Going over this information can help prepare the new employee and prevent surprises. Do your best to maintain open communication with staff so that they know what is expected of them. This will help keep them on track and motivated to accomplish goals.
Since the COVID pandemic, more and more people are leaving jobs for better work-life opportunities. Many schools and daycares shut down throughout the year, leaving parents scrambling to work from home.
By allowing a work-life balance, you can retain employees because they won’t feel that they are being cheated of their time. Work with your staff to identify what this work-life balance looks like. Some people want flexible schedules while others prefer to work from home.
Promote From Within
Attracting and retaining talent becomes a lot easier when you appreciate your current staff and promote from within. New hires will want to remain loyal to a company if they know that their accomplishments will be recognized.
Promoting from within also encourages staff to stay because it shows that the company cares about the people they hire. Promoting from within the company can also improve services because staff will be knowledgeable on all levels. Not only does this help your company, but it also gives staff comfort.
Are You Retaining Employees?
Retaining employees can be a difficult thing when there are so many open opportunities in the market. By utilizing this guide, you can help keep the best employees you have and encourage growth. Employees that stay long-term can help with training new staff and they understand the business cycle each year.
Don’t wait too long to show your appreciation and offer a work-life balance. Otherwise, your staff may already be one foot out the door. Be sure to check out our blog for more articles about motivating your team and building up staff!