Employee retention has become a major concern for every employer recently, so it’s important to focus on the issue and realise the factors behind turnovers and how to overcome it. Things have changed over a period of time when millennials became the dominant work force where they are not satisfied with payslip or comfortable working environment, they expect more from their job to keep themselves motivated. Friendly working space, scope for creativity, challenges, flexible hours and scope for decision making attracts young employers and help them to stay.
Managers and the HR should adopt the retention tools to prevent employee turnover as this incurs great loss to the company. The following retention tools are cost effective, easy to implement and feasible in day to day life. The technology driven era has outstretched the role of an HR and not limited to payroll and recruitment but is extended to employee satisfaction at the work place that motivates them to stay for a longer period. Here are some tools for employee retention which can be embraced for effective results.
- HR Survey
An HR manager is responsible to ensure whether an employee is being productive or not or whether they are satisfied at the work place? This can be analysed by doing an occasional survey to know the problems faced by the employees if any and then work on those issues to overcome it. There are instances when employees do not want to open up with their problems so there are anonymous surveys conducted where the grievances are listed and then resolved as a whole.
- Maintaining a healthy working environment
The relationship between the manager and the employer is the crucial part in the working space. An issue between supervisor and employees creates a negative working environment that demoralise the employees and make it difficult to give their best. So it is important to prevent hierarchical barriers, aggression at work and respecting the sentiments of each individual at work. Healthy working environment will boost the morale of the employees to work hard and stay for a longer period.
- Make the employees feel important
Making the employees realise their importance in your company and how their work is reflecting the productivity of the organisation will increase their morale to stay and work harder. If they don’t feel valuable or worthy they will have a second thought about staying in the company and will soon leave the organisation where his/her efforts are valued and respected.
- Employee development
The company should focus on the development of employees as this will increase engagement and a scope for upgrading their skills will motivate them to stay. Everyone wants to grow as an individual and does not want to limit their skills so conducting training programs, interactive sessions and workshops will help them meet the company’s requirement as well as prepare them for future challenges in life. An engaged employee does not seek for other opportunities.
- Bridge the communication gap
There should be transparency between the employer and employees. As a leader, one should not hide any facts or details about the project as that will create a communication barrier and as an employee one should be open to address his/her problems and doubts. There should not be any hierarchical communication gap, each one should be allowed to put forward their views and talk to the supervisors directly if facing any issues. This will prevent misunderstandings at the work place which can cause employee turnovers and less productivity.
- Appreciation and Recognition
Every employee has a motivation behind his/her hard work that drives him/her to achieve a certain goal. Sometimes, the employees do not get appreciation or recognition for their hard works which cause them to leave. So, a manager should create a motive that drives an employee to work harder. The employees should be awarded with promotions, pay hike, appreciation, monthly recognition and rewards to keep them and others motivated to work harder.
- Taking care of your employees
Providing a good package does not gain the loyalty of the employees. The employees mind other factors as well and that involves taking care of their well being. They hate being treated as machines because obviously they are not; humans require care and respect that drives them to work harder. The company should provide health insurance coverage for employees and their family and a small appreciation wishes on their birthdays or special days. This creates loyalty among employees and they do not feel to leave.
According to a survey two major problems that forces an employee to leave the organisation is because of the unruly behaviour of the managers and lack of opportunities. Competition gives the opportunity to the employees to showcase their talent and increases productivity but if they are not given such opportunities they feel disengaged and tend to leave the company in search of growth. If your company is facing turnover problems, make managers the problem solver as they are the immediate contact person of the employees and they can only identify and solve the issue with the help of above retention tools.