Top 5 Employee Retention Strategies

Employee retention solves many problems such as turnover, lack of consistency, camaraderie, and more. Customers notice when employee turnover is at a high and job seekers do too. When it comes to keeping your employees, here the top five employee retention strategies.

1. Attainable Goals

Also known as growth opportunities, employees with achievable goals enjoy a more satisfactory environment. This means that an employee's route to advancement should be a goal, not just a pipe dream. Make sure that promotions are possible, not something everyone knows will never happen.

2. Incentive Programs

One way sure to create employee retention is with incentive programs. Whether it's as simple as choosing a prime schedule change or a vacation getaway, incentive programs give employees a goal or "prize" for their hard work. You don't even have a spend a fortune. As long as it is an incentive that is desirable, this works to boost employee maintainability.

3. A Fun Work Environment

Work is usually far from fun and games but making work more fun is never negative. Look at companies like Google that provide an atmosphere that workers want to return to. All work and no play...well, we all know what that gets you. Create an atmosphere that allows for a little fun. Whether it's a casual Friday or a monthly party - employees appreciate a good time at work.

4. Know Your Employees

You may know your employees on a superficial level but to know how to keep them, you must know them on a higher level. This doesn't mean you have to be privy to their personal lives but understanding what drives them says you have an insider view on how to keep them.

5. Flexibility and Autonomy

The workforce of today is more flexible than ever. More employees work from home or at least have some control over their schedule.

According to recently released data from the US Census, 5.2% of workers in the US worked at home in 2017—or 8 million people. That share is up from 5% in 2016, and 3.3% in 2000.

While employers cannot always appease everyone, and especially in certain types of jobs, flexibility promotes a happier worker.

The Bottom Line

Perhaps not all of these ideas work in your company. But even implementing one is a change that helps make the company morale higher. And higher employee morale leads to a longer work life with the company they are employed with.