Finding the right employees can be tough, but keeping them can be an even larger struggle. That’s why investing in employee experience is extremely important in today’s day and age. In a 2012 study conducted by the Kelly Global Workforce Index, 66% of employees intend to search for a job with another organization by the end of the year. As an employer, you’ve hired the best talent you can, now what if two-thirds of them left to work for the competition? That’s a nightmare. Here are some tips to retain employees -your most valuable assets.
Employees are more likely to remain loyal to your business if you let them know the business is loyal to them. The best way to achieve this is to show care for them. Take a look at the 100 Best Companies to Work For to draw on some inspiration. Some highlights include: efforts to build a sense of community, corporate child-care and wellness initiatives. Genuinely caring for employees, their families, and their health will help you retain employees. It will also improve your bottom line since employee changeover costs are high. Here are some extra ways to attract, and retain your millennial employees and ways to attract and retain your generation Y employees.
The study also shows that only 44% of employees surveyed say they feel valued by their employer. This means that more than half of employees do not feel valued. Even an employee who feels taken care of by the business may feel under appreciated by their superiors. Never underestimate the power of praise. If an employee does a good job, let them know. Praise should never go ignored, but it should not be overplayed either. Try to practice effective praise as a motivational boost for employees while still remaining professional. Better yet, try to help your employees find ways to adopt an active lifestyle as well because it helps retain them and improve their productivity (fit employees have a better ROI as well).
With 43% of Generation X employees identifying as “perpetually thinking of resigning,” the working environment for an employee looks pretty grim. Any efforts made to improve the employee experience, and employee engagement are measures worth taking to better secure the talent you’ve worked so hard to obtain.