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Keys to Employee Retention

Posted on Sep 26th 2022

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Keys to Employee Retention

Experienced employees are key to any company’s success, which makes employee retention a top priority—regardless of the size of your business, or how many workers there are on your team. The cost of turnover is undoubtedly high, too, as well as the impact on overall morale and productivity. The cost of recruiting and training new employees is usually high, and can lead to a loss of institutional knowledge and experience.

Employee retention is a challenge for any organization, though, no matter what your industry happens to be, and there are a number of factors that contribute to high turnover rates so it can be difficult to identify the root cause of the problem. How can you ensure that your employees are happy and engaged in the long run, then? Fortunately there are a few strategies that can help to improve employee retention within your company. Read on to learn more about why people choose to leave their jobs, plus strategies to keep your workers motivated and committed.

Factors that Contribute to High Turnover Rates It might take a little imagination to empathize with your workers and see things from their perspective, but this is the best way to understand what they need and want in a workplace. There are a number of factors that contribute to high turnover rates. For example, employees may be unhappy with their working conditions, or feel unheard or undervalued by their employer. But overall, stress is the biggest contributor to eventual burnout. That’s why it’s so important to find ways to help your team have fun on the job and manage their day-to-day stress levels. If you’re an employer, make sure your workers know they can talk to you about concerns, and ask for feedback on their job satisfaction. Another option to consider is conducting exit interviews with any employees who choose to leave the company.

Book a Wellness Program

Wellness programs are a great way to help reduce turnover rates and keep your employees healthier and happier. Not convinced? Here are some reasons why you should book an event for your team.

  1. Employee wellness programs can actually help cut down on paid sick time off, and stop corporate burnout in its tracks. This can save businesses a lot of money in lost productivity, plus training replacement costs, so you’re actually likely to save money in the long run.
  2. Wellness programs can also help boost company morale and overall job satisfaction.
  3. It’s no secret that a focus on wellness can do wonders for your employees’ health and ability to manage stress. What you may not know is that a corporate wellness program can also lead to increased employee retention. The bottom line? Adults need fun, too. It helps break up the same old routine, and gives us more energy for everything else we need to accomplish on our endless to-do lists.
Two women and two puppies.

Professional Development

One of the most important things companies can do to improve employee retention is invest in their workers to keep them engaged and happy. Some companies choose to invest in professional development by offering training programs. This can help employees feel motivated to grow within the company, and it can also provide them with the skills they need to be more successful in their current roles. Buying into professional development for your team is important for a number of reasons. Ultimately, it shows that you care about your employees and their career growth within the company, so they don’t need to go elsewhere to learn new professional skills. And it can help to improve general job satisfaction and team morale. Finally, it can also lead to increased productivity because they’ll have more to bring to the table.

Offering education for your employees will help them feel like they’re changing and improving, instead of stuck in a stagnant role. When you provide opportunities for your employees to learn and grow, they feel valued and they’re more likely to stick around, so show your team that you think about their future within the company. This can lead to improved employee retention rates, not to mention that happy employees are more productive.

Competitive Salaries and Benefits

One of the easiest ways to make sure your employees feel valued is to offer competitive salaries and benefits. This demonstrates that you care about their ability to afford a comfortable lifestyle and you’re willing to invest in their wellbeing. Workers who are already satisfied with their income opportunities and benefits, like retirement and healthcare, are less likely to look for other opportunities because their essential needs are being met.

Create a Positive Environment

Creating a positive work environment is at the top of the list when it comes to employee retention. This means providing support and resources as needed, fostering open communication, and promoting a healthy work-life balance. It’s important to create an environment where employees feel comfortable voicing their needs or concerns as things change. Otherwise, resentments are likely to build until workers simply leave when the opportunity arises. For this reason, be sure to encourage communication and collaboration among employees, and, if possible, to offer flexible work arrangements, as well as opportunities for professional growth.

Recognize Excellence

If you want to improve employee retention, let your team know you appreciate them and their efforts. You can do this by rewarding their hard work and professional accomplishments. Employee recognition can take many forms, from verbal praise to financial bonuses, but one way or another, it’s a good idea to show your appreciation for people if you want them to stick around. It’s often easier to remember this in our personal lives than in a corporate setting, but by implementing some or all of these strategies, companies can start to see improvements in employee retention, boost productivity, and save money on turnover rates.

Book a Puppy Event

If you’re looking for a corporate wellness program your whole team will love, consider booking an event that includes puppies! It’s sure to be a hit your workers will remember for a long time. After all, there’s nothing quite like spending time with a furry friend to help reduce stress and promote relaxation. And what better way to show your employees you care about their well-being than with a puppy experience?

Not only will your team appreciate the opportunity to take a break from work and play with some cute pups, but dogs are also known to have a positive impact on our mental and physical health. You can learn more about Puppy Love™ by calling 925-269-PAWS (7297) or book an event online by clicking here.