Skilled employees are the foundation of a successful company. Without talented and loyal employees, your business will have a difficult time keeping up with demands. However, employee retention is a daunting problem faced by businesses of all sizes. According to a survey, approximately 33 percent of newly hired employees quit within the first three months of their employ.
This is a regretful loss and one that can be easily averted. According to a different survey, some of the most salient causes for such employee loss include changing their minds on the type of job, encountering different work than they thought and not having enough training to fulfil their duties.
Below are seven ways that will help your company avoid losing employees too quickly. Use these tips wisely to build your business up and avoid any negative repercussion.
- Vet Them Thoroughly
The most important step of getting quality employees is to vet them properly during your hiring process. Aside from exhaustive interviews, you should also liberally use the right pre-employment skills test on all aspiring members of your business. Combined, these methods gauge their commitment to your organization before they’re even part of it and checks on their level of skill. Although it may seem like overkill, these types of vetting processes are essential in guaranteeing only truly loyal and talented people make it into your company.
- Set Expectations Early
You should set forth what you expect from employees and what employees should expect from their jobs at the earliest possibility. Your first opportunity would be to make these very plain on your job adverts, but you should also tell them the particulars of their jobs in every step of the hiring and onboarding process. This way, they have ample opportunity to assess if the expected duties align with their work style and predilections.
- Train Them Properly
Employees are more likely to stay if they don’t feel always overwhelmed by their responsibilities. The best remedy for such a situation is to ensure they undergo careful and comprehensive training sessions early in their tenure. Training in essential in building up the skills and confidence of your employees, making it less likely that they’ll feel overburdened. They’ll also be able to contribute meaningfully to your company with adequate training.
- Provide Support
Retaining employees isn’t just about enhancing training and improving standards. It’s also about empathy and support. New employees are more likely to feel out of place and overwhelmed. Without proper support, they’ll burn out and will most likely resign.
Have new employees looked after by a mentor within their department This mentor should show the ropes and provide a modicum of emotional support. A robust human resources department is also essential in ensuring your employees in general, new and old, are taken care of and have someone to approach with their concerns.
- Pay Appropriately
Few things will drive employees out in droves than disproportionate pay schemes. Granted, this is one of the most complicated aspects of employee retention to remedy. You have to find a sustainable balance between remaining competitively priced and ensuring your employees are suitably compensated for their work. However, you should always keep in mind that without great employees, you won’t have much of a business to run. If you must make certain cuts in salary and another fiscal finagling, the final entry is essential in ensuring its acceptance.
- Communicate Effectively
Clear and concise communication is important in employee retention. First, it enables proper dialogue between all levels of your organization. This means new hires know exactly what their place is in the hierarchy, and they can, in turn, address the appropriate personnel with their concerns. It’s useful in building up support networks and establishes goals for new hires to meet. Investing in communication channels and implementing them effectively can mean the difference between having a successful business and a struggling one.
Employee retention is often neglected in favour of enhanced profitability, but the two concepts come hand in hand. Investing in employees and ensuring they stay for the long haul guarantees you have a strong and loyal corps to fall back on in case of hard times.
