10 tactics that will help to improve talent retention in 2019

Employee-employer relationships require special attention in all companies, irrespective of the industry or size of the company. If you would like to improve your staff retention this year, here are 10 strategies to consider – not only to retain your employees, but also to ensure that they are satisfied by working for your company:

  1. Orientation

Every new employee should be set up for success which is why an onboarding process is so important. Orientate each new employee, not only to teach them about the job they will be doing, but also about the company culture. This will help him/her to fit in and make a success of the job.

  1. Mentorship Programmes

One of the best ways to ensure that a new employee is set up for success, is to partner him/her with a mentor within the company. Mentors should not act as supervisors, but rather as a soundboard for newcomers. Of course, new employees can also offer a new perspective and new ideas to the mentees.

  1. Competitive Compensation

In today’s competitive labour market, offering attractive compensation packages is crucial. This includes salaries, but employers should also look at other benefits such as bonuses, retirement plans, paid time off, health plans, etc. Your compensation packages can distinguish your workplace from another.

  1. Recognition & Incentives

Employees want to feel appreciated. If you observe that an employee does something extra, give them the credit they deserve – be it with a thank you, a gift card, or an additional day off. Make sure that you tell your employees what they mean to your company. Rewarding your employees may encourage them to do more for your business.

  1. Work-Life Balance

Work-life balance is essential for all employees. If you expect your employees to work long-hours regularly, it can lead to issues with talent retention.  Therefore, encourage your employees to take time off, and if late hours are necessary to complete a certain project, try to reward your staff with days off, flexible hours, etc.

  1. Ongoing Training & Development

On-going development and orientation are important to keep all employees motivated and satisfied in the workplace. Also remember that your employees are there to grow, so make sure that you give them opportunities to grow – if possible, let them attend conferences, or offer to pay for their tuition or further training.

  1. Clear Communication & Feedback

Be open and honest with your employees. Employees should feel comfortable to come to you with issues, ideas, or questions, and they also expect you to be honest with them – therefore, tell them what you expect of them. By regularly connecting with each employee, you can avoid issues building up into a large problem.

  1. Reassurance during transitions

All companies go through unpleasant changes – be it mergers, moving to new offices, or major layoffs – and your staff needs to be informed and reassured in such instances. Big announcements should be made face-to-face so that your employees have time to ask questions. This can also avoid the spreading rumours that may damage your staff retention.

  1. Teamwork

Promote a collaborative culture in your company – when people work well together, they can achieve more than when working individually. Encourage all your employees to contribute their ideas and solutions, whilst still allowing room for everyone’s unique working styles.

  1. Have fun now and again!

One thing that companies forget, is to have fun occasionally. To ensure that you get out as a team, celebrate important milestones achieved by your team, and individually. If you just finished a big project, take the team out to celebrate. Or, if someone on your team just got married or had a baby, go out and celebrate.

(Article sourced from: https://bit.ly/2ybS9Ju)