The days of staying a whole lifetime in one company are long gone. Many employees now move from job to job once they are unhappy in their current ones, causing businesses to have a common concern – how to keep good employees? Look at big companies like Facebook and Google, they invest so much in employee welfare to retain their talents. The reason why so many businesses try to foster employee loyalty is simple – loyal employees are more productive, efficient, and think for the sake of the company. Not to mention, it saves time and money when the turnover rate is low. Therefore, here are 5 simple steps you can take to keep your employees loyal to your company!
1. Invest Time In The Hiring Process
One of the common reasons for good employees leaving the company is because of the people in the company and the work environment, rather than the job itself. Thus, you want to invest more time in the hiring process to ensure that the employee is a good fit for your company. This includes highlighting the importance of soft skills apart from technicalities. By requesting for candidates to complete personality tests, you can analyse their results to determine if he/she would blend in naturally with the rest of the team. This step would help you sieve out the suitable employees that can work as good team players and help the team to progress instead of those that would bring down the team’s morale. This also creates a better work environment for all employees, thus increasing employee retention rates.
2. Be A Respectful, Non-Toxic Boss
It is easy to demand respect from your employees, but many bosses do not give their employees the same respect. This is ironic and would instead deter your employees from giving you the respect you deserve. In fact, respect should be earned, not asked for. So, the next time you accuse your employee of behaving rudely to you, ask yourself if you have earned their respect first. By being a respectful boss, your employees will also appreciate your gestures and give you due respect!
3. Give Credit Where It’s Due
Many small and medium-sized enterprises try to scrimp and save and do not reward their employees appropriately. However, this is a mistake as one of the most important factors in retaining employees is to give them credit where it’s due. Such credit can be in terms of monetary rewards such as salary increments, or even words of affirmation by you! If you pay your employees what they are worth, they will then believe that is how much they are worth to you and feel more compelled to work harder for your company. This will naturally increase the employee retention rate as employees feel that they are appreciated and valued.
4. Employee Benefits
One simple way to keep your employees loyal and happy is to be generous with employee benefits. These include benefits such as paid days off and medical insurance. If you value your employees and want them to stay for a long time, providing them with employee benefits will convey your intention to them. Furthermore, providing them with such benefits will definitely enhance your employees’ work performance as they are well-rested and can work productively!
5. Improve Office Culture
Office culture can make or break your employees’ decision to stay. This is inevitable, as your job involves the people you work with everyday. Therefore, companies can take certain approaches to improve office culture. One good way you can do so is organising team building activities that would give employees in big companies a chance to interact with the people they liase with via email and phone daily. And by team building activities, we don’t mean get togethers where you just order pizza and play board games! There are tons of effective team building games out there such as Bubble Bump, Laser Tag, and even Combat Archery Tag that is sure to foster teamwork and communication. By improving office culture, you’re encouraging your employees to stay because they genuinely love the people they work with!