The hiring process is probably one of the most tedious processes both employees and employers have to go through. After this, however, is when the real work begins.
The job market is competitive and there is a lot of talent out there. Once you have built a great team, you want to keep it. This is why it’s important to have great employee motivation and retention to ensure you not only keep your employees but keep them happy.
It is crucial to have good employee retention for the long-term health of any company.
This not only makes the company happy but is directly linked to customer satisfaction. Also, although there are exceptions, the longer an employee has worked a specific job, the better his or her performance.
In this guide, we’ll focus on how to improve employee retention and motivation and what you can do to incentivize employees to stick around.
Company culture is one of the most important building blocks for any company. “Am I happy at work?” is one of the key questions that employees ask when considering searching for a new opportunity. In order to create a healthy and positive culture, companies should establish key principles to attain the culture that they aspire to have.
One of the foundational motivational factors of employee retention and engagement in organizations is communication. Support employees by showing them they can talk about professional issues, opinions, and achievements. Cultivating an open and accepting space is extremely important to this and will help an employee feel valued.
Another key principle is honesty. Employees should feel that they work in an honest and transparent environment.
A great way to promote your company’s culture is to create a handbook that includes your principles, goals, and mission. Distributing a calendar that specifies monthly activities to work on skills such as team-building, communication, innovation, and stress is also a great way to keep employees motivated.
Every satisfied employee understands his or her role in the company. Consistent expectations provide constant results. Doing this also makes it clear how to recognize employees that have gone above and beyond.
For this reason, it is important for managers to establish concrete and detailed expectations. Clear metrics and weekly goals provide an easy framework to work with. When employees lack a good understanding of their role, they often underperform and build negative relationships with management.
Employees look for companies where they know that they can grow both professionally and within the company. Offering training and seminars are often great incentives for employees. Inviting people from different branches to meetings they usually would not attend increases employee versatility.
Rewarding employees for employee motivation and retention is important to their professional development as well. Make sure you’re not only providing rewards systems for employees but that you’re holding up to your end of the bargain.
Doing things like this makes employees feel like a more integral part of the company, which increases retention.
Managers should take the time to create a personal relationship with their employees from day one. Mentoring, listening, advising, and helping are all ways to strengthen that bond.
This provides both better performance and an incentive to stay. It is important for managers to be approachable and respected in order to create a healthy, attractive work environment.
People like to know their work is recognized and appreciated. A simple “thank you” could go a longer way than you would think. Employees feel motivated when they are compensated for their hard work.
If you want to know how to improve employee retention and motivation in the workplace, provide some type of rewards system and see how performance changes.
Rewarding top performers a couple of times a year is also a great way to increase productivity and motivate your employees to stay on board. Bonuses and gifts are also standard ways to make your employees feel valued.
What is the strategy to improve employee retention?
You don’t need some far-fetched or unique strategy to increase retention. It comes down to paying employees well, recognizing them for a job well done, and providing them with advancement opportunities as well as optimal work-life balance.
How do you keep your employees motivated?
Set clear goals for your employees, recognize them when they’ve done well, provide constructive feedback, and empower your employees by allowing their voices to be heard.
What is a good goal for employee retention?
90% or higher is considered “good employee retention.” If you’re retaining employees at this rate, it likely means that you’re doing a good job at many of the things we’ve discussed so far.
Understanding how to improve employee retention and motivation will not only help you increase employee retention but it will help the company run more smoothly as a whole. Contact STRIVE today to build a better employee experience!