The value of manpower in any organization cannot be underestimated. Human Resources is perhaps the most crucial resource of all in any organization. As such, an organization should be dedicated to the well-being of each and every employee.
“As a CEO of a company, you would want a situation where high employee turnover is the order of the day,” exclaimed Issa Asad Florida entrepreneur, businessman, and CEO of 2 companies located in South Florida (including Quadrant Holdings and Q Link Wireless).
Poor employee relations and high turnover may ruin the image of the company. Besides, the time and money spent in regular replacement of employees can be quite significant. For these simple reasons, employee retention should be paramount in any organization. Here are 3 ways to increase employee retention.
1. A Thorough Recruitment Process
Carrying out an effective recruitment process helps you get the right person for the job. This is because you are able to select the most qualified individual among the brood. Failure to carry out a thorough process leads to sub-optimal selections hence poor performance. Choosing the right person for the job means that the candidate selected will be comfortable and contented with his or her job and hence no need to leave or the quit the job. In the long run, the employee turnover rate will significantly reduce.
2. Benefits, Welfare, and Opportunities
The main reason most employees quit their current jobs for other jobs is the promise of a better pay and greater opportunities. As a firm, offering your employees welfare benefits and career development opportunities will not only motivate them but will also keep them around. The benefits and opportunities do not have to be very costly. Depending on your budget and capital base, you can offer varying welfare benefits and sure enough this will motivate the employees to work even harder. Simply put, it is the gesture that matters when it comes to such things.
3. Include Employees with Decisions
Employee inclusion in the management processes creates a sense of belonging and ownership to every employee. Management by Objectives is one way that a firm can exploit in the inclusion of employees in the management process. By doing so, every employee will be aware of the role that each one of them has to play towards the achievement of the organizational goals. The duties and responsibilities of each individual are well explained and understood. Having this inclusion of the employees, creates a good working relationship between the employees and the management. Team spirit is created, and the working environment is made much more comfortable for everyone. Having such a working environment will undoubtedly reduce employee turnover.
Increasing employee retention does not have to be that hard. The secret to this query is understanding what employees want. The key thing is keeping them motivated and focused towards the attainment of organizational goals. A change in the firm’s policies and strategies towards employee motivation may be all it takes to keep your employees around. The above tips can be very beneficial in setting up the right policies and creating a super working relationship between you and your employees.