9 Ways Employers Can Retain Employees
I've recently noticed the shift in the workforce, and it hit me like a ton of bricks. "We're Hiring" signs prominently display in store windows and on restaurant doors, practically begging for applicants.
When I went to the movies recently, no one was there to take my ticket. Instead, a machine took the place of a person, waiting to scan my QR code. If this wasn't enough, when I went to my favorite donut place, they were closed six hours before their normal closing time because they couldn't get people to work. I left disappointed, facing the harsh reality that we are living in changing times. Life as we once knew it, is no more.
But the problem is deeper.
I’m currently self-employed, but I vividly recall the years when I worked for someone. I don't know about you, but I felt motivated to work when I knew that my work mattered and that my boss genuinely cared about me. There are two exceptional men who come to mind right now.
Of course there's more to it than that, which I will discuss below, but this one point bears repeating: If an employer demonstrates that they value and care about their employees, not only will they highly increase the likelihood of their employee staying around, they reap several benefits as well, including:
Attracting the best talent
Reducing your turnaround rate
Developing a sense of shared identity
Inspiring people to bring their best
Incentivizing your team to bring new ideas
Getting a greater return on your hiring investments
So how do employers create a culture of caring?
Tip No. 1 - Make certain there’s a good work-life balance.
Ensure sure your employees have enough time in the day to relax, recuperate, and prepare for the next day. It’s a common misconception that more work means more productivity — this is simply not true. According to Ohio University, there is growing evidence to suggest shorter workweeks can result in drastically increased productivity.
Tip No. 2 - Give your employees good benefits.
A company that cares for its employees should provide paid time off, health benefits, retirement accounts, and parental leave, in addition to a competitive salary. However, when employees are forced to provide these things themselves, it will inevitably disrupt their work. So protect your employees and the time and money you’ve invested into them.
How can you beef up your benefits? Maybe more vacation days? A membership to a fitness center? A four-day work week?
Tip No. 3 - Invest more into your employees.
More companies are beginning to reinvest their money into their employees by providing valuable training and classes. This can make your employees’ jobs more manageable as they develop a higher level of expertise. They can also begin to offer more value to your business. Educating your employees can also increase productivity, according to an article from Penn Foster.
Tip No. 4 - Strive to inspire your team.
People work for someone they trust and respect. Remind them about your company’s mission and values. Why are they important? What drives you as their leader? Share your story with them. Show your team why you believe in them and how their role contributes to the end goal.
Tip No. 5 - Create a diverse work environment.
Diversity is not only a responsibility; it’s also one of the greatest assets any business can have. You can learn how to better connect with your employees and approach your business with a better understanding of people. Plus, a diverse team brings fresh ideas from a global perspective.
Tip No. 6 - Provide opportunities to lead.
Nothing builds self-esteem more than creating a track record of success. When you give your team an opportunity to lead, you show them that you believe in them. As a result, they will work hard to prove you right.
Tip No. 7 - Work smarter.
Is every meeting necessary? If not, maybe you can reduce the frequency or duration. Or eliminate them altogether. Use technology that makes your team’s jobs easier and more efficient. This will increase productivity and reduce burnout.
Tip No. 8 - Contribute to your community.
Find an organization that aligns with your values. Solicit input from your team. You can undoubtedly provide services, products, or monetary support. Consider creating a scholarship fund for college students. I personal created one and it was one of the most rewarding things I’ve ever done. You can also volunteer for an organization as a company. This would be a way to build camaraderie while also giving back to a worthy cause.
Tip No. 9 - Show your appreciation.
Now we’re full circle. As I mentioned at the beginning, everyone likes to know that they are valued. You can buy your team’s lunch, even if they work from home. Maybe you give them their birthday off. You can even create a formal ceremony or a monthly recognition program with a certificate. Tell them how much you appreciate it when you notice that they are working late or going the extra mile. Simply acknowledging someone’s effort can pay dividends to you, gaining loyal employees and increasing your company’s bottom line.
What ways have you created a culture of caring? Which strategy stands out to you? Share your comment. You may be featured in an upcoming article.