How Do You Increase Employee Retention? | 247HRM
 

How Do You Increase Employee Retention?

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How Do You Increase Employee Retention?

Imagine a car that has been engineered by a famous German engineer and has all these beautiful parts that make it the car fanatics drool on. But is there a point to that car if it is only a metal body? That’s exactly what an organization is without its employees. And after you have put in so many efforts to find the right candidate for your business, losing them would actually surpass monetary losses. So it is elemental that you have that employee with you as your organization grows. But many a times it so happens that when an employee wants to leave, the only way that superiors find to keep the employee is to offer a raise. Though it may work in some scenarios, today’s employees are well aware of what they want and what they don’t. So offering a raise is not always the way to go. Here are four ways that are!

Establish the right culture

The first step in ensuring that your employees stick with you in the long run begins way before you hire them. It starts with identifying the kind of culture you want your organization to function under. Once you identify this then hire people who fit into this culture. Remember, an employee can be trained to learn a new skill set anytime but what matters more is the character he or she displays. Yes, its important that the persons profile and CV matches your requirement but having the people whom you believe would fit into your organizations culture matters even more.

Know your employees

Nothing puts an employee off as much as not being recognized in their own office. For this to happen, it is important for the employers to know their employees. If your company culture is formal, a small nod or reply to their wishes would help. If the culture is a little more casual, then maybe a hi-fi or a fist bump every now and then creates the image of being recognized and acknowledged in the employee’s mind.

Employee bonding sessions

The heading doesn’t always translate to trips to Goa or Miami. Sometimes, the core bonding happens right in the office environment. Sometimes, it may even be better than the bonding happens in the office environment, making the office a part of the positive experience too! Small musical sessions in breaks or having a lounge area with a coffee machine would go a long way. The key is to find the balance between making your employees feel relaxed and calm and getting them to do the work.

Encourage their passion

Ask your employees about their hobbies and put efforts in helping the employees pursue them keeping the organization and its culture and principles in mind. Even if you cannot officially tend to their passions, try forwarding emails or circulars related to the hobby of the employee. This is a way of ensuring employee retention without going over the budget or involving the monetary aspect at all.

Finding the right employee is part hard work and part luck. So make sure they stick with your organization till the very end!

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