As the unemployment rate continues to decline and job opportunities increase, job seekers are now in control. Candidates are more selective about the positions they accept and are less likely to remain at a company that they are not happy at. This means it’s a good time to take a look at your company and evaluate what you’re doing to create an environment that will not only encourage employees to stay, but also help them grow into even more valuable assets to your company as a whole.
5 TIPS TO RETAIN VALUABLE EMPLOYEES
- 1. Offer benefits that aren’t required, such as a 401(k) plan, or a Flex Savings Account. Many times this perk is a deciding factor when choosing employment.
- 2. Offer opportunities for career development, such as certifications, seminars and conferences that enhance their value to the company as well as continue their professional development. Also, outlining what is necessary for advancement gives employees something to strive for and keeps them goal-oriented.
- 3. Maintain a positive environment by celebrating achievements, whether it is a personal accomplishment or a team acquired goal.
- 4. A work-life balance is very important, especially to millennials. If your company has the flexibility, some ways this can be achieved are:
- Offer Flex-Time. This allows an employee to select the hours he or she will work. This is a desirable benefit for employees with young children who often have childcare responsibilities.
- Summer Fridays. Allow employees to work half days on Fridays to start the weekend early. A 2012 Ultimat Vodka study found that giving people the day off (or a half day off) on Friday during the summer boosted morale as well as productivity the rest of the week.
- Telecommuting/Working Remotely. Giving employees the option of working from home offers benefits to both the employee and the employer. Studies show that employees who work from home actually show an increase in productivity. Other benefits include an improved morale and a reduction in turnover.
March 4th is Employee Appreciation Day, are you doing anything at your company to show your staff how valuable they are to you? Are you bringing in lunch, closing a half day, hosting a company happy hour? Share your story on our Facebook page!