Well this no uncommon topic that in today’s world the retention rate has slightly grown. There have been many talks you would have read about the reasons behind high employee turnover. But today I am going to provide a solution for this problem. This would have probably been quiet often that you hired an employee and put all your resources and then you found out for some reason your employee is not adjusting in your company.
Well here are some tips to reduce employee turnover:
Pay a Decent Salary
In this thrift, salary can be a decisive factor as to whether an employee chooses to stay or leave the organization. So this is essentially important that you make certain that you offer a fair and good salary. This means you should avoid paying lower salary.
Provide Constant Feedback
To produce exceptional employee that deliver high performance, it is significant to provide the employee pure and nonstop feedback on their efforts made and to provide with constructive criticism in a sandwich style approach.
Does Bonus Matters?
Definitely it matters a lot it boost employees motivation and they deliver more passionately than before as organization is caring for their work and praising it. This can be a very vital factor for your retention strategy.
Work life Balance
Work life balance alsocarries high importance on the list of employee retaining strategies for any business or organization. If it’s possible you can also offer your employees to work at home or perhaps a more flexible working schedule. Assisting employees to balance their work and home life is considered to have major impact on employee retention rate. It also should be remembered that over-burden of any work can decrease the productivity of the employee hence affecting the overall performance of the company.
Employee admiration comes in several forms. Make certain that your employees recognize that you are sentient of the efforts they make during work for the organization, and that you worth them. This is will greatly have an direct contact with employee retention rate.
I hope you are more cleared now. If any queries please ask below in the comment section.