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How to Retain Your Valuable Employees?

Hiring the best workers is not enough, It’s just a start. You have to retain them. If you want to analyze the risk factors of employee retention, then BizMerlin provides an easy solution that is Retention Analysis. Retain your best talent with BizMerlin’s Retention Analysis. Try these tactics to retain your employees:

  • Give Responsibilities to the Employees: Giving responsibilities to the employees that allow them to grow, show that you trust your employees. It will encourage the employees to gain new skills. Hire the best employees from within wherever possible, and give them generous promotions at appropriate times.
  • Give Regular Feedback to the Employees: Feedback is as necessary as breakfast for the employees. Giving regular Feedback encourage and empower the employees to work well in difficult situations. Feedback on the work done by the employees helps to retain the employees.
  • Reward the Employees: The rewards that you give to your employees should speak to their needs and should go beyond their monetary compensation. Recognition in front of the company, lunches with the boss, logo clothing, department parties, these all can contribute to the positive culture of the company and can be good morale builders as well.
  • Offer a competitive benefits package that fits your employees’ needs: Providing health insurance, life insurance, and a retirement-savings plan is essential in retaining employees. But other perks, such as flextime and the option of telecommuting, go a long way to show employees you are willing to accommodate their outside lives.
  • Provide some small perks: Free bagels on Fridays and dry-cleaning pickup and delivery may seem insignificant to you, but if they help employees better manage their lives, they’ll appreciate it and may be more likely to stick around.
  • Use contests and incentives to help keep workers motivated and feeling rewarded: Done right, these kinds of programs can keep employees focused and excited about their jobs. You can enroll in BizMerlinHR’s employee award management system to recognize team member’s acheivements.
  • Conduct “stay” interviews: In addition to performing exit interviews to learn why employees are leaving, consider asking longer-tenured employees why they stay. Ask questions such as: Why did you come to work here? Why have you stayed? What would make you leave? And what are your nonnegotiable issues? What about your managers? What would you change or improve? Then use that information to strengthen your employee-retention strategies.
  • Hire Selectively: Before you can begin to retain employees, you have to make sure that you have the right employees to begin with. Interview and vet candidates carefully, not just to ensure that they have the right skills but also that they fit well with the company culture, managers, and co-workers.
  • Promote from within whenever possible: And give employees a clear path of advancement. Create a clear and progressive succession plan for the employees. Employees will become frustrated and may stop trying if they see no clear future for themselves at your company.
  • Create open communication between employees and management: Hold regular meetings in which employees can offer ideas and ask questions. Have an open-door policy that encourages employees to speak frankly with their managers without fear of repercussion.
  • Communicate your business’s mission: Feeling connected to the organization’s goals is one way to keep employees mentally and emotionally tied to your company.
  • Hire a human-resources professional: If your company is nearing 100 employees, consider hiring a human-resources director to oversee and streamline your employee structure and processes. Putting one person in charge of managing employee benefits, perks, reviews and related tasks takes a huge load off of you and makes sure employees are treated fairly. HR managers are also more up to date on employment laws and trends. They can set up various programs and perks you may not have known existed.