With the seismic shift in the business landscape following the COVID-19 pandemic, workers have also shifted their perspectives and begun reconsidering what they value about their jobs. This has led to an unprecedented phenomenon of increased turnover, and many employers are now scrambling to retain their top talent so their companies can continue to grow and flourish.
Thankfully, there are plenty of ways to improve your company culture to increase employee retention. These simple tips can help you clear some new hurdles that company leaders face today. They can also give you an advantage over competitors that fail to address issues with employee retention.
With that in mind, here are 5 of the best ways to increase your retention and retain a strong workforce.
Empower Employee Professional Development with Ongoing Learning Opportunities
One of the most common reasons an employee chooses to leave a company in search of greener pastures is that they don’t feel like they’re being invested in. Because of that, they often believe that there is no path forward for them.
Providing your employees with opportunities for professional development doesn’t just let them know that they’re valued and that you’re willing to invest in them; it also helps them become more valuable and productive as employees. Furthermore, you’ll increase the likelihood that they’ll want to stay with your company going forward, and you’ll be happier than ever that you’ve got them on board.
Create Loyalty and Engagement Through Mentorship Programs
Having a trusted mentor can benefit anyone, but it has certain unique benefits in the workplace. Providing your employees with a mentor shows investment in them and helps connect them to the workplace in a personable way.
With a mentorship program, a new employee can build a beneficial relationship with another worker. This person, ideally one of your strongest employees, can help their mentee develop into the best worker they can be. And if the mentee runs into issues that could lead them to look for employment elsewhere, they will have someone they trust to work through those issues with and help them reconsider.
Build Loyalty with a Flexible Work Environment
Work-life balance is a highly prioritized value for the modern worker. Of course, this was the case well before the pandemic, but it has only amplified since then. Today’s employees appreciate more flexibility in their work hours, in addition to hybrid and remote options. This provides them comfort, control, and better opportunities for the healthy work-life balance they seek.
However, flexibility applies to more than just work hours and work location. Creating a workplace with less rigidity can show employees that their needs are valued, improving your odds of retaining them in the long term.
Offer Incentives and Bonuses for Work Productivity
Few things can drive a talented employee away from your company faster than the sense that they’re not being rewarded for their efforts or accomplishments. They might be getting a paycheck, but they can get that from many other places. If you want them to feel valued and develop a sense of accomplishment that will keep them around, you need to offer more than just money.
Incentivizing productivity by offering rewards and bonuses for meeting goals can transform how your employees see their jobs. This simultaneously provides employees with well-earned acknowledgments and your company with a more productive team member.
Build Workplace Wellness into Your Remote and In-Person Work Environment
Promoting workplace wellness is a great way to address several issues that could otherwise lead to turnover. A physically, emotionally, and mentally healthy workforce will be happier, more productive, and more likely to stay with you.
You can promote workplace wellness in many different ways. Consider educating your workforce about mental and physical health, offering employees better healthcare benefits and opportunities for exercise, giving them a chance to give back to their community, or creating a space in the office where they can relax.
Attract the Talent You Need with Benefits Advisory Group
If you’re unsure how to navigate this new professional landscape, Benefits Advisory Group is here to guide you by helping you attract and retain top talent with robust benefits packages. Contact us today to learn more.