Employee retention is one of the most challenging, yet necessary tasks for any organization. Great employees are hard to find, but even harder to replace! Every firm strives to retain their employees for the longest time, as it helps businesses get the most out of their employees, saves hiring costs and maintains stability in the business. It is more economically efficient to retain a good employee, rather than to search, recruit, onboard, train and substitute with someone of the same caliber.
But what makes employees stay? Which factors influence their decisions when it comes to employee retention? What are the appropriate measures and strategic actions that businesses can undertake to increase their employee retention?
As an organization working candidates and companies across the globe, for employee hiring, Saransh Inc. is well-versed with an employee mind-set and their expectations. Here are the top four from our list that every business must know:
Company Culture
As Alexander Den Heijer rightfully said, “When a flower doesn’t bloom, you fix the environment in which it grows. Not the flower”. When employees find themselves in a culture that encourages them to grow and makes them feel valued, they become more dedicated towards their jobs and develop a sense of belonging. The onus lies on the businesses to ensure that the work environment remains positive and professional, which can be done through policies and open communication channels.
Personal career growth and mentoring
Employees seek guidance that can help them achieve career growth and, most often, their reasons to leave an organization is because they do not find the answers that they are looking for. Mentoring plays a very important role in helping employees understand their exact job-role, what’s expected from them and how they can achieve it. Mentoring also helps employees to clear their minds of doubts, build confidence and have clarity regarding their future, with the organization.
Acknowledgement
It’s human nature to feel good about any achievements, big or small. Employees who are appreciated for their work and rewarded with recognition are bound to be high performers, as well as stay with the company longer. Offering employees monthly/yearly-based incentives, based on their performance or ideas and appreciating them from time to time, helps boost their confidence and makes them feel valued.
Support and right attitude from managers
Employees don’t leave organizations; they leave bad bosses. As the one responsible for an employee’s performance, the role of manager also extends to ensuring the balance between employee performance and employee well-being. A good superior/manager gives equal opportunities amongst his/her team member and gives them the freedom to take decisions, correcting them only when needed.
An open-door policy with fair HR practices are the pillars of employee retention. We can see that, if any one of the above given pointers doesn’t match with the employee’s experience with the firm, the employee turnover rate increases. However, the journey of a great employee joining your firm begins with hiring the right fit.
At Saransh, we introduce companies with their best-suited employees on a daily basis, thus leading to a high employee retention.
Know more about our range of Staffing solutions, by writing to us at info@saranshinc.com.