When you’re operating in an employee-favorable job market, having an intentional plan in place for retaining employees is vital.
With today’s competitive labor force, it is important to keep your employees happy and content in their jobs. By improving your employee retention rates, you can also decrease costs associated with recruiting and training new employees.
At LUXA, we are passionate about helping companies create the best working environments for their employees. We believe that, by doing so, businesses can improve employee retention rates, and in turn, create a more productive workforce.
Here are a few important tips for improving employee retention:
1. Make Day 60 As Important As Day One (Onboarding)
Just because you’ve brought a new employee on board, the hiring process is not over. Ensuring that your employees have a positive, engaging onboarding experience is as important as making sure your recruiting and application processes go well.
If typical worker tenures are getting shorter and shorter, it’s no longer acceptable to accept one to two years for people to get acclimated to their work environment.
The onboarding process is your first impression to engage with a new employee. You want to put your best foot forward and get them quickly and fully productive.
2. Optimize Your Benefits
These days perks are the icing on the cake when you’re wooing applicants. A competitive benefits package is typically second only to salary when it comes to employee satisfaction.
But an important factor to keep in mind is that a one-size-fits-all benefits program will likely backfire with the now five generations in the workplace. A targeted benefits program is the way to go. Having the right benefits program in place can improve engagement.
3. Give Your Employees Flexibility with Their Schedules
Do your employees really have to be in the office from 9-to-5 five days a week? By incorporating flexible work schedules and telecommuting, you just might find that your employees are more productive and satisfied and experience less conflict between work time and their personal obligations.
Remember, it’s super-important to spell out the policy and get it right so there’s no ambiguity.
To read the rest of our top tips for employee retention, download 10 Tips for Retaining Employees for free using the link below.
If you’d like further information or would like to speak to one of our HR Consultants, call TEAM LUXA today at (918) 928-7288 or visit our website.
LUXA Enterprises specializes in HR services, outsource accounting, bookkeeping, and payroll services. We match up with ideal candidates for services by allowing small to midsize businesses to increase focus on their growth through outsourcing. If you want to know how we can help you, contact us today!