The importance of employee retention could not be overemphasized because not only do we want workers to be happy, but the sheer cost that comes with training, interviewing and recruiting can be really overwhelming. Furthermore, employees working for the same organization over a long period of time already have an understanding of the company’s policies and culture. Not only do they offer experience, they also provide stability, setting the bar for high productivity. With employee retention projects playing a key role inside the working environment, let us explore why many people resign and decide to pursue a different path.
Individuals spend more than of their waking hours in the workplace, but they do not feel appreciated for the effort and time that they are putting in. Many workers feel underpaid, undervalued, unnoticed and disregarded. Timely, specific and frequent recognition of employees is one of the most critical and often forgotten employee retention strategies. Positive feedback can give a much needed confidence boost, which, at the very least, can help in increasing work productivity. With the right employee retention plan, the whole team will feel respected and appreciated, at the same time pushing individual confidence.
Relationship With Others
The relationship that is developed between peers and managers has the power to make or break an employee’s whole outlook regarding their job. Since employees deal with their co-workers on a daily basis, learning how to communicate spells out just one of the most essential employee retention tips. A good leader should know how to provide an avenue conducive for professional development and growth, so that employees are empowered to succeed. Unfortunately, many supervisors fall into some kind of rut in ignoring potential, micromanaging and discounting great talent.
Aside from this, peers can also be a stressor causing an unpleasant work environment. While they should be a source of social and professional support, judgmental and negative actions and attitude can end up ruining the possibility of building strong working relationships. Because of this, employee retention definition rates may suffer.
Lack of Challenges
When workers become bored with their job, they end up uninterested to push through with their work. Not only will productivity decrease, but the desire to stay and continue serving the company will also diminish. Employee retention advantages include challenging works so that they can feel like they are adding something of value to the organization. Keep in mind that one person’s enthusiasm alone is infectious and it can easily spread throughout one department and even to the whole company. In this way, they can use their expertise and creativity in increasing innovation and advancing the company to greater heights.
While this factor may not necessarily be in the forefront of our minds, office decoration or the lack thereof, actually plays a big role in spelling out an employee’s overall happiness. Since many of us spend a huge part of our day at work, we should be secured in a comfortable setting.
The Startup Expert® can help you create an enjoyable and welcoming environment for the benefit of your company. Contact us for more information.