Retaining employees has become a hot topic in today’s business world. As employers continue to navigate the effects of the Great Resignation, it has become apparent that holding onto employees requires active effort—not just the presumption they’ll stay.
Read on to discover some tips and tricks for improving your employee retention rates during these unprecedented times.
Try a Four-Day Workweek
Non-traditional work schedules can be a great way to maintain productivity at your workplace while keeping employees happy. Some businesses are finding that a four-day workweek is a good solution for their needs.
In one study, 63% of businesses surveyed said that adopting a four-day workweek helped them bring in and retain the right kind of talent.
Offer Bonuses & Perks
Providing annual bonuses is an easy way to make workers feel positive about your business and the work they’re doing for it.
Apart from cash bonuses, gym memberships, gift cards, free meals, commuter stipends, and other perks are a great way to show employees that they are appreciated and provide incentives to stay with the company.
Provide Professional Development
If employees don’t see a path forward for themselves at your company, it’s hard to retain them. Providing opportunities for training and career development can allow workers to upskill without leaving their current jobs.
Whether you provide company-wide training sessions, stipends for individual training, or tuition reimbursement, fronting the cost of professional development for your employees can help you hold onto your
Improve Company Culture
How employees feel throughout their workday has a direct impact on retention rates. One study found that employees with high levels of engagement and well-being are 59% less likely to look for a new job with another company within 12 months.
If your business is struggling to retain employees, taking the time to plan employee recognition initiatives, team-building events, and other engaging activities may be the key to solving your problem.
You may also want to consider using anonymous surveys to gauge how employees feel about the current company culture and plan how to address any issues.
Raise Their Pay
One of the most effective ways to retain good employees? Give them more money.
Raising wages is one of the most straightforward ways to boost retention. As inflation rates continue to rise and other businesses offer competitive starting salaries to attract workers, adjusting salaries should be a consideration for any employer.
Want to Start Recruiting Top Talent?
Working with a staffing agency gives you access to today’s top strategies for hiring and retaining talented workers.
To discover how OneSource Staffing can find the right candidates to fill open positions at your business, contact us today.