The era of long-term employment at one company that ended with retirement and a gold watch is long over. More people within the workforce today will experience multiple jobs, even career changes, with many employers. So how do employers navigate this new world? How can you focus on retention and still give your employees the career growth they crave? The secret is out there. Here are a few ways you can keep your employee retention rate high.
Salary and Benefits
It’s essential that you’re able to offer competitive pay rates when compared to similar jobs in your area. The best way to see if you’re on track is to research the positions on resources like Salary.com. Be sure to keep your salary offerings fair based on the position itself and not each individual.
You can also sweeten the deal with additional benefits. There are some standard benefits that many employees expect, but add something new to the mix. Some of the most popular involve flexible work schedules or remote working options.
Retention is often influenced by the relationship between your employees and their direct managers. The best way to curb any negative issues in these partnerships is to focus on training your management team to provide qualify and fair supervision to their employees.
If your employees trust their managers, you will begin to build loyalty. Loyalty then informs the employee retention experience.
Opportunities for Advancement
Your employees also want to know that they’re appreciated for what they do and they can experience new opportunities within the company as they continue to grow their careers. If a job is seen as a dead end, you will lose candidates every time.
Advancement should correlate to additional responsibilities and more trust in the employee’s performance.
Response to Employee Feedback
Your company also needs to be accountable for their actions. You expect that your employees will do their job as required, but what do they expect from you in return. Employee feedback is the best way for you to see what concerns your team has about the company.
The important part is that you do something constructive with their feedback. Show them that you value their input and opinions by making positive changes.
Hiring for Shared Values
Retention often starts before someone even accepts a job with your organization. You should be hiring individuals who match your corporate values. If you try to fit a square peg into a round hole, you’ll be fighting nature in a way that won’t be compatible with productivity.
Candidates should also want to work with companies that match their own personal work style, so be sure to communicate this early in the process.
Partner with a Top Staffing Agency in Dallas TX
Do you want to improve your employee retention rates? Contact CornerStone Staffing today to work with a leading staffing agency in Dallas TX.