Next to your customers, your employees should be your most valuable asset. They are the face and image of your company to your customers and prospects. But good workers are in high demand and it can be hard to keep your best and brightest.You don’t have to sit idly by and watch your best employees walk away. Here are our 5 tips to help you retain them:
- Offer flexibility – Allowing workers to keep a flexible schedule should not cost much, and allows you to keep your employees happy. This can be an especially appealing perk during warm summer months and the holidays. The ability to work remotely or from home can also be very attractive.
- Focus on Personal and Professional Development – Nearly a third of individuals cite a lack of professional challenge as their reason for leaving a job. Providing employees with new and exciting challenges and teaching them new skills will make them less likely to leave. Ask about your employee’s goals and aspirations and help them accomplish them. Create a personalized personal development plan for your best people.
- Improve your benefits – More than half of employees cite a lack of, or insufficient benefits for considering leaving their current role. Benefits can be expensive and that’s one of the reasons we recommend that you annually shop your benefit plan. If you currently offer full medical and dental benefits, consider offering other options. For example, items such as subsidized gym memberships may even help lower your health insurance premiums.
- Stress Work/Life Balance – The painful reality is that work is important and sometimes customers’ demands require sacrifices, but always encourage your employees to take time when they need it. An employee who is stressed about their home life probably isn’t going to be able to properly focus on your clients anyway. So try to avoid calling employees on their vacation or personal leave. Allow them to focus on their family and recreation during their earned time off.
- Pay them appropriately – For many businesses, payroll is the largest expense. You may be reluctant to give your employees periodic raises, but if you don’t pay them what they’re worth someone else will! Conducting research on what others with similar skills can earn will help you keep on track and make sure your employee pay is commensurate with their skills and experience.
Is turnover a problem for your organization? Speak with a Zinner Business Advisor for creative ideas on how to retain your best and brightest employees.