There are benefits of hiring key employees to the long-term health and success of your business. Managers do agree that keeping the best employees make sure increased product sales, customer satisfaction, satisfied coworkers, and effective succession planning and organizational knowledge and learning all come together with the right employees and staff.
But do you know that not only hiring but retaining them is also a big challenge?
The trained and expert staff needs to be in the organization as it means creating organizational issues such as insecure staff and co-workers. Here we share a few pointers which initiate the employee to leave the company.
- Employees find the job or workplace is not up to their expectation.
- There is a difference between the job and person.
- There are too little growth and advancement openings.
- Employees struggle with a feeling of being devalued and unrecognized
- There is too little coaching and feedback.
- Employees get stressed very often from overwork and have a work/life imbalance
How to retain the existing employees
- Mentoring. It provides a solid foundation for growth and employee retention. A goal-oriented feedback system and a mentoring program provides the base for a strong relationship and works as the individualistic career development plan.
- Training. The employees get a solid understanding of the requirements of their job and reinforce the sense that they are valuable.
- Appreciate the employees with compensation and benefits. Offering competitive salaries, profit sharing, pension, and health plans, paid time off, bonus programs, and tuition reimbursement sends a great message to employees about their importance at the organization.
- Make the employees feel valuable. A sense of worth in their jobs will happen if they are made to feel responsible for their work. Rewarding them for their performance will keep them motivated for higher performances and will make them raise their level too.
- Provide opportunities for growth. Workshops, software, or other tools to help employees increase their understanding of themselves and what they want from their careers and improve their goal-setting efforts.