Today’s workforce is very different from the ones of the past. To attract and retain employees today, providing an environment that meets their needs and expectations is essential. This requires a new way of recruiting, onboarding, and retaining top talent.
Changing your way of thinking about employee retention isn’t easy. And it can be challenging for most company leaders to make this leap of faith. If you are sick of losing good employees, read on to learn why happy employees leave and what you can do about it right now.
The Problem With Employee Retention
Undoubtedly, employee retention is a massive problem for most companies. According to the Society for Human Resource Management, the average employee leaves their job after less than two years. Although there are many reasons employees leave, the Workforce Institute research indicates that most people leave their jobs because they don’t feel appreciated or are treated poorly.
Almost two-thirds of workers said they felt more appreciated at their last job than at their current one. That’s a lot of unhappy employees who might look for a new job soon. When your employees leave, it costs you money. And it takes time and money to recruit new talent, onboard them, and get them up to speed.
What Are The Benefits Of A Happy Workforce?
A happy and engaged workforce can do so much for your company. Employees who feel valued and appreciated are more likely to stay with their company. Looking after your staff means you enjoy improved efficiency, among other things. They’re more likely to put in more hours, work harder, and be more innovative than employees who don’t feel valued. A happy workforce is contagious; employees want to share that feeling with others when they feel valued.
1. Offer Remote Work And Flexible Work Hours
If you have employees who travel frequently, or if your business is in a field that requires employees to work remotely, this is an easy win for your company. Offering remote work or flexible hours shows your employees that you understand that their lives are not all contained in their work hours. In addition, when you offer these benefits, you show your employees that you care about them as people, not just as workers.
2. A Little Bit Of Recognition Goes A Long Way
It’s important to remember that your employees are human beings. They crave recognition for the work they put in and the challenges they overcome. The problem is that most companies don’t offer much in the way of credit. When you offer your employees more recognition, it shows them that you care. It shows that you are aware of their contributions and that you appreciate them.
3. A Workplace Where Employees Feel Valued
To feel valued by your company, employees need to see that you appreciate them. You must treat your employees with respect, pay them fairly, and offer benefits that increase their quality of life. Employees feel motivated to do their best when they feel valued at work. As a result, they feel like they belong in the office and want to stay with the company.
4. Culture Is Key
It’s no secret that the most successful businesses have strong cultures. When you focus on creating a positive and engaging workplace culture, you make your employees feel like they belong. You let them know that they are appreciated and needed. A strong culture also means that you have a set of values that are clear to every employee. This helps make decisions and solve problems easier, as well as build trust among your employees.
5. Pay For Professional Development
Most employees want to grow and learn new things. They want to expand their skill sets, try new things, and challenge themselves. They want to look back after a year or two and know they have accomplished something meaningful. When you offer the opportunity for employees to attend conferences, take online courses, or attend training seminars, you show them that you care about their professional development. You can take this one step further and help workers from other walks of life work for you. Applying for LMIA can help you find workers to fill an imminent need in your company.
The Bottom Line
A happy workforce is one where the employees feel valued, are challenged, and are part of a strong culture. When you take the time to invest in your employees and create an environment where they can thrive, you are less likely to lose them to opportunities elsewhere. Replacing your old ways of thinking about retention with new ones makes keeping your best employees much easier. Remember, it’s not enough to hire good employees; you also need to keep them engaged and motivated, so they want to stay with your company for the long haul.
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