Every company considers it’s employees valuable and tries the best to take care of their interest so that they don’t leave the company and look for other jobs. But with the growing economy and more job options, you need to put additional effort to improve your employee’s experience. If you are not able to keep your employees in your company, you have failed every aspect of employee retention. Quitting of one employee puts other working staff in doubt, whether to leave the job or not. This doubt is not good for the company, as it will lead to greater dissatisfaction within the employees.
Employee retention has become a major problem in companies today as the employees are seen switching their jobs frequently. There are various issues due to which employees tend to leave the job.
Issues that lead to quitting of jobs:
1. Employees are not completely satisfied. The dissatisfaction may be related to the working conditions or the method of working. He might not be getting enough credits and is not happy working with the company. At this point in time, employees start looking for a new job and will quit your company.
2. The employee is getting a better job. If the pay is not good or if the employee is getting paid higher, then he will leave the job. Make sure you don’t lose good companies because of money issues. These employees will help you grow and make money.
3. Employees tend to leave because of a dispute or an argument. Here, the employee has no intention to quit but takes action in the heat of the moment. Make sure you do not let that happen. Scold in moderation, don’t let it go overboard. This will ruin company-employee relation. It is very important to manage your staff the same way. Impulse quitting can be avoided with effective management.
4. Quitting becomes a necessity. If an employee is pregnant or if the family is shifting, the employee has to quit. Even though there is no such reason to change jobs. They have to. At this point in time, you should suggest some alternatives. For example, you can allow a pregnant employee to work from home for a few months.
Strategies to improve employee retention:
- · Orientation for new employees- The employee should be informed in advance what they are getting into. They should know their work, salary, people are going to work with and the rules of the company. If an employee knows everything beforehand, he will not create a problem for the company. He will be sure of what work he is allotted. It would be great if you keep the newly hired under some supervision, a mentor or something like that. He will learn work quickly and effectively. He will be able to make friends easily, and you won’t have to supervise him every now and then.
- · Recognition- Employee recognition is closely connected to employee retention. If an employee is known in the company for his work, he will try not to change jobs. Making name in any company is a long process and takes time, no employee would let that go easily. Make sure you give credits to the employees if they have done the work. Stealing credits won’t do any good for the company. Make sure no other managerial staff does that. Even if a newbie gives an idea which is beneficial for the company, he should be known for that idea. This will build a healthy relationship between the boss and the employee.
- · Rewards- If an employee has been credible in his work for a long time, he should be rewarded for his work. The reward can be monetary and non-monetary. You can increase his salary or give him a promotion. This will also motivate other employees to work better.
- · Try not to suppress employee’s personal life- Along with work; it is very important that you let an employee enjoy his personal life. Only work will get him frustrated and will lead to resignation. To avoid this give a day off in a week and let them plan a holiday once or twice in a year.
You can read more on employee retention and attrition, post by Prachi Singla: "How to handle Employee Attrition"
Employee retention is very important for any organisation to function. If the employees keep on declining, the reputation and the growth of the company will also decline. Every company should learn to build a good employee relation. An employee builds a company!