As leading Kansas City recruiters, Morgan Hunter knows that some turnover at a company is expected – and even healthy. However, if your retention rates are much lower than you’d like, what can you do to slow down the revolving door and inspire long-term employee loyalty? Here are 5 tips to help you:
Tip #1: Hire right, from the start.
The best way to overcome issues with turnover is to ensure you’re hiring the best fit employees to begin with. During the hiring process, make sure each role is clearly defined, including goals and expectations. Also, make sure you assess each candidate’s fit for your company’s culture before making a hiring decision.
Tip #2: Keep compensation competitive.
If you’re not offering salaries and benefits that are market rate for your employees, then you’re going to lose them to companies that do. That’s why, every so often, you need to perform an evaluation to ensure you’re paying your people not only a fair wage, but one that will retain them. This includes offering regular raises, as well as bonuses to top performers.
Tip #3: Thank and reward employees…often.
One of the primary reasons employees leave is because they don’t feel recognized or valued for their contributions. So whenever you can, offer praise and positive feedback to your employees. If an employee truly goes above and beyond, then reward them and celebrate their successes. When you do, you’ll have healthier, happier employees who are less likely to move on from your company.
Tip #4: Offer flexibility.
Today’s workers want flexibility and a healthy work life balance. Whether it’s flex scheduling, or the ability to work remotely a couple days a week is up to you. But offering employees flexibility around the hours they work and where they work will positively impact your retention rates.
Tip #5: Provide opportunities for growth and development.
How engaged are your employees? For most companies, the answer is “not enough.” If yours is one of them, one of the quickest ways to get employees back in the game and back on track is to provide opportunities for growth and development. This could be anything from a formal mentoring program to informal lunch and learn sessions.
Just keep in mind – if you want to keep employees, you have to keep them engaged. Otherwise, they’ll look elsewhere for more challenging or rewarding opportunities.
Do you need more help finding and retaining top employees? Morgan Hunter is the answer. As leading Kansas City recruiters, we’ve helped companies throughout the area find and retain high quality employees. And we can help you too! Contact us today to learn more.