𝗛𝗼𝘄 𝗖𝗮𝗻 𝗪𝗲 𝗛𝗲𝗹𝗽 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀 𝗥𝗲𝘁𝗮𝗶𝗻 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀

21 February 2022

What do you do when your employees keep leaving? The 7 areas you can improve on to increase your employee retention rate include:

Onboarding and orientation

Every new employee needs to be prepared to succeed from the beginning. The process of training new employees needs to teach new employees not only about their work, but also about their corporate culture and how they can contribute and prosper in it. Don't underestimate this important first step. The training and support provided from day one can set the tone for the entire tenure of an employee in the organisation, face to face or virtually.

Mentoring Program

New employee and mentor pairing is a great component to add to the advanced onboarding process, especially in remote work environments. Mentors can welcome newcomers into the company, offer guidance and be a sounding board. And it's a win: New team members learn the ropes from experienced employees and, in return, they offer a fresh viewpoint to their mentors.

But don`t limit mentorship opportunities to new employees. Retention rates for existing employees, and overall employee retention and team job satisfaction can greatly benefit from the mentor-mentee relationship.

Employee Compensation

It is imperative that companies pay their employees competitive compensation. This means that employers need to evaluate and adjust their salaries on a regular basis. If your company is currently unable to offer salary increases, you should consider whether you can offer other forms of compensation or reward.

Remember to improve your health care and retirement plans. This also helps to increase employee job satisfaction.

Benefits

Benefits can boost employee morale, make the workplace stand out for potential employers, and rehire current employees. According to a payroll guide survey, flexible working hours and remote work options (except for pandemic-related stay-at-home orders) are the greatest benefits of many working professionals. In addition, about one-third of the employees surveyed felt that paid parental leave was a big plus.

Wellness

Maintaining the mental, physical and financial health of our employees is simply a good business. With the pandemic, many large companies have expanded and improved their wellness services, felt supported by their employees, and valued wellness. Stress management programs, severance pay, and fitness class refunds are just a few of what the company can offer its employees.

Communication

The pandemic helped emphasize the importance of good communication in the workplace. Your direct reports should feel that they can always direct ideas, questions and concerns to you. And as a leader, you need to play your part and promote timely, constructive and positive communication across the team, including onsite and remote. Also, actively work with each team member on a regular basis to understand the workload and job satisfaction of the team members.

At Compaira - we want a world where everyone has the chance to progress; we will provide the connections to do this simply and without bias.

Continuous Performance Feedback

Many employers refrain from annual performance assessments in favour of more frequent meetings with team members. In these one on one meetings, talk with your employees about their short and long term professional goals and help them visualise their future with the company. While you should never make promises you can't keep, talk through potential career advancement scenarios together and lay out a realistic plan for reaching those goals.

Feel free to register here.

𝗛𝗼𝘄 𝗖𝗮𝗻 𝗪𝗲 𝗛𝗲𝗹𝗽 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀 𝗥𝗲𝘁𝗮𝗶𝗻 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀

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