According to a Harvard Business Review, about 80% of turnovers are due to poor hiring decisions. This is only one factor that can impact your employee retention rate, but there are many more factors. So how do you retain employees? We’ll break down some of best ways for you here!
Hire and Fire the Right People
When you post job applications, make sure that you clearly state what you’re looking for, and you should have clear idea of what kind of candidate you want as well.
When you interview them, make sure that they’re a good fit for the position, but also will be good fit for the culture you have at your company.
If you do need to fire someone, make sure that you do it. Make sure you have reasons you need to fire them other than that you don’t like them.
While it might be hassle to go through the firing process, it will be beneficial to your company’s culture and also your other employees to make sure you get rid of the bad apples.
Communicate
Another important thing that should make sure you do is to communicate with your employees.
Whether it’s to give them feedback or recognition for the job they’re doing, it can really help to reduce your turnover rate. Employees have said over and over that they want more communication with their managers and they want to be recognized if they’ve done a good job.
You should also let them know when they’re not doing a good job so that they can have a chance to correct their actions rather than making the same mistake over and over.
Reward Employees
One way to show appreciation for your employees is to reward them.
Look over your employee rewards budget and decide what type of reward program to offer. It could be the something as simple as an employee of the month or handing out gift cards to some of the best employees.
Develop Their Careers
Another thing you can do is to make sure that you help them develop their careers. Offer them training opportunities and ways to improve on their job.
If they’re able to learn and keep expanding on their skills at this job, they’ll be persuaded to stay at your company longer.
Make Sure They’re Happy
Lastly, just make sure that they’re happy and that their mental health at work is taken care of.
If they’re happy, they’re likely to be more satisfied with their jobs and more likely to stay at your company. You can send out weekly surveys to get a good idea of what your employees are thinking about their job.
If you get negative responses, you can figure out a way to fix it.
Learn More About What You Can Do to Retain Employees
These are only few things to know about how to retain employees, but there are many more strategies you can try.
We know that running business and trying to keep your employees happy can be stressful, but we’re here to help you!
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