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Employee Retention: Four Strategies Employers Can Use to Retain Employees

It's no secret that employee retention is a challenge for employers. In fact, according to a recent study by the Society for Human Resource Management, 43 percent of organizations reported that retaining employees was their number one strategic challenge. So what can employers do to keep their employees from jumping ship? Here are four strategies which may help your organization stay adequately staffed.

1) Offer training and development opportunities. Employees want to feel like they're growing and learning in their jobs. Offering training and development opportunities helps meet this need and also makes employees feel valued. Additionally, offering training and development supports promoting from within due to the investment being made to develop future leaders within your organization.

2) Implement work/life balance policies. Employees today are struggling more than ever to find a good work/life balance. Policies that help them manage their time and mental health can go a long way toward keeping them happy and engaged at work.

What programs can you implement to support employees having a healthy balance between the demands of work and home? Are the programs you currently have in place being utilized to achieve the desired outcomes? It may be time to evaluate programs your organization is using to determine effectiveness.

3) Promote recognition and appreciation. Employees love feeling appreciated for the work they do. Recognition and appreciation programs are a great way to show your staff how much you appreciate them. Recognition programs aids employees in having increased motivation in what they do, leading to higher productivity--a win-win for employees and organizational leaders.

4) Create a positive work culture. Employees want to enjoy where they work and have a good relationship with their co-workers. Make sure your company has a positive work culture by promoting teamwork and respect among employees.

It is also important to address and not ignore issues which occur between employees or with leadership. Use of employee advocacy staff and mediation may be helpful. Partnering with a consulting firm to serve as a third party to host focus groups and employee interviews will foster an openness in communication regarding challenges being faced.

Although it may seem like a lot of work, implementing these solutions is well worth the effort. In fact, according to a study by Bersin by Deloitte, organizations that invest in employee development see a 50% higher ROI than those that don’t. And happy employees lead to companies with lower staff turnover rates. So what are you waiting for? Start developing your retention strategy today! Need help getting started? Click here for support from the experts.


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