Employee retention is key to a successful business.
Not only does it eliminate the process of recruiting replacements, it saves time and money, and you retain those key employees with the skills needed for your perfect candidate. Unfortunately, employees will depart your business from time to time, but the following tips can really stack the odds in your favour:
- Be clear on your expectations – make sure your employees are aware of the requirements of their role and what is expected of them. Providing clear position descriptions or having frequent check-ins helps keep employees on track and working towards your business goals.
- Develop your employees – when an internal vacancy opens up, where possible, recruit from within your company. Not only does this save time on recruiting and training new employees on your processes and systems, but it also provides a sense of security and trust to your employees.
- Communication – Hold regular meetings where you can communicate your business goals and progress to your team. This gives your employees a chance to ask questions and contribute your team.
- Provide small benefits – Small but considerate items such as end of month drinks, Friday lunches or even discounted health insurance act as a bonus to employees that may not be offered at other competitors.
Remember, your employees are an investment who will look after you in return. If you have any questions or would like to find out how we can help with employee retention in your business, contact one of our HR consultants today.