How to Increase Your Employee Retention Rate

Employee Retention Rate

Did you know that in 2016, 15.1% of the U.S. workforce left their job?

Many companies worry about their employee retention rate, but they aren’t sure how to remedy things when turnover is high. There are measures you can take to make your employee retention rate statics look better.

Continue reading this article to learn what to do to keep your employees longer.

Address the Largest Problem First

To have the biggest impact in the shortest amount of time, you need to figure out where your biggest problem is. What position do you constantly have to hire for? Where are people most unhappy?

When you know where you lose people a lot, you can look into why that is happening. While you might have other places you need to fix problems, just think about this strategy as stopping the bleeding.

Develop Effective & Empathetic Leaders

Many people don’t leave their job because they don’t like their jobs. In fact, it often has nothing to do with why they go elsewhere.

“Mean” or unempathetic leaders that don’t know how to communicate often drive people out of the organization. If you notice one department suffers from high turnover, it’s important to take a close look at the people running that department.

You can train some leaders, but others are stuck in bad habits, and you need to let them go so they don’t run off more workers.

Put a Recognition Program in Place

People work hard, and when you recognize them for their hard work, it makes all the difference in whether they want to keep working with you or not. If you have a large workforce, using these services can make it easier to recognize the people that put in the hard work.

Keep in mind that recognizing people both in public and one-on-one makes a big difference. In fact, if people don’t get recognition in private, they often feel like public recognition is a little fake.

Provide Feedback and Further Training

Humans crave growth, and if your employees are stuck without the ability to advance and learn more at your company, they will find somewhere else to work. If you don’t have a training program and a way to mentor the people working at your company, now is the best time to start.

Providing feedback on its own often leaders to frustration, so putting the training program into place can ease the frustration and help your existing talent rise to the challenge. When people feel like they are progressing with your company, they are less likely to jump ship for a shiny new opportunity.

Improving Your Employee Retention Rate

Now you know more about how to improve your employee retention rate. Instead of feeling like you’re on a constant turntable, you can keep good people at your company longer.

Do you want to learn more about how to keep your employees happy and other important business topics? Read through our blog some more.

Read Also : 5 Top-Notch Employee Retention Strategies to Keep Your All-Star Team