Employee retention can have a big impact on any company. The level of employee turnover often makes or breaks the bottom line. Today, a company will spend countless hours and resources training new employees as they try to make up for losing hard working ones.
One of the biggest reasons someone may want to leave their job is that they don’t feel appreciated, that their work is thankless and goes unnoticed.
Fortunately, there are many things you can do that can make your team feel appreciated, positively impacting employee retention.
Get to Know Them
It may seem minor, but sometimes employees just want to connect with their bosses. They want to feel known by their leadership team. It shows your employee they aren’t just a number but a valuable person within the company.
Be sure to keep boundaries in place as you get to know your employees. You should be able to maintain a professional relationship while getting to know that your employee is married with 2 kids, owns a dog, and loves to jet ski on the weekends.
Verbally Acknowledge Their Work
It’s important for employees to know you see the work they are completing, the time they are putting in, and especially the things they do that go above and beyond.
You would be surprised how many bosses don’t tell their employees “thank you” or “good Job.” You would also be surprised how big of an impact something that simple could make in an employee’s morale.
Compensate Them Appropriately
When it comes to a job, money isn’t everything, but it is important. Many people would rather work a job they love for less money than a job they hate for more money. But when it comes down to two jobs they’d enjoy equally, money can be the deciding factor.
Be sure to compensate your employees competitively and fairly for the work they are doing. This could give you a leg up on your competition.
Invest in Them
Show your employees you see them as an asset and see them having a future in your company. Invest in corporate events from fun team building outings to leadership seminars. Everyone has the capacity to grow and learn. Nothing will make your employees feel more appreciated than pointing that out in them.
If you really want to be a hero, throw in a free lunch. Nothing boosts morale like sharing a meal together. Corporate event catering from Rudy’s Smokehouse will not only provide your employees with a delicious meal, it will also show them that you appreciate them.
These few suggestions could help reduce your employee turnover and have a positive effect on your bottom line. Often times, the more you invest in your employees the more time and energy they will invest in their work, and that’s a win win for everyone!