Employee retention spells success for any business
No one goes into business intending to be a bad employer.
You want your business to be a happy place where employees choose to spend their days – so you provide perks and value adds in order to build loyalty.
You’re off to a good start by offering a benefits package that includes a health spending account (HSA) and access to great insurance products.
But that’s just the beginning – in order to run a productive, successful business, your employees need to feel they are part of that success. Happy employees are productive employees!
So what else you do you need to consider offering in order to attract, nurture and retain good employees?
You can start with employee orientation: nowadays employee orientation is referred to as “onboarding” and involves training, scheduled milestones, mentoring programs and interactive meetings.
A major subject for consideration is employee compensation, one feature being your benefits package and health spending account. You may also want to provide financial incentives such as healthy raises, bonuses and stock options as rewards for outstanding work.
Recognize the value of work/life balance by providing flexible work hours, telecommuting and job sharing.
Small perks like free muffins on Friday go a long way toward winning employee loyalty. Casual Friday, scheduled coffee breaks, team building events and regular theme days promote fun in the workplace.
Contests and incentives help keep workers motivated, feel rewarded, and stay focused and excited about their jobs.
Allow employees to advance in the company and offer opportunities to grow through training and development.
Be sure you let your employees know what you expect of them. Often in small companies, employees have a wide range of responsibilities. If they don’t know exactly what their jobs entail and what you need from them, they can’t perform up to standard, and morale can begin to dip.
Finally, exit interviews will help you as an employer understand what is working and what the company could improve when it comes to retaining employees.