How to Improve Employee Retention and Reduce Turnover

Every business wants optimal employee retention and turnover levels. Despite hard work, there is always ample room to bolster worker retention and lower employee turnover.

There are many things your company can do to maximise employee retention and turnover levels, such as:

1. Recognize Your Company’s Top Performers

Award employees who go above and beyond the call of duty. You can reward these workers with gift cards, extra time off, and other perks. In doing so, you can recognize your top employees’ achievements. At the same time, you can show workers you care about their contributions to your business’ success.

Consider what employees want in terms of performance incentives, too. Oftentimes, it helps to conduct worker surveys and questionnaires. Then, you can collect employee feedback. You can next generate employee insights to help you establish performance incentives that hit the mark with your workforce.

2. Offer Fair Compensation

Review the salaries associated with jobs across your business. As part of your efforts, conduct research into myriad industry roles and the median pay rates associated with them. If you find your job pay rates fall short of industry expectations, adjust them accordingly.

Along with fair compensation, consider the benefits you offer to workers. For example, you may be able to provide flexible schedules or remote work opportunities instead of a high annual salary. These perks can help your company keep its current workers happy. Furthermore, they can make your business stand out in the eyes of top job candidates.

3. Revamp Your Culture

Assess your culture and how employees perceive their work. This requires you to learn from your employees and how they view your business.

Typically, employee surveys and questionnaires can give you a glimpse into your company’s culture. Also, you can use one-on-one and group meetings to get culture insights from your workforce. As you learn about your business’ culture, you can make adjustments as needed. In the long run, you can ensure your culture aligns with your workers’ requirements.

4. Promote a Healthy Work-Life Balance

Encourage workers to take time off and break away from the hustle and bustle of their jobs. If your employees understand the value of a healthy work-life balance, they can feel and perform their best at work and outside of it.

Provide resources to educate your employees about your company’s health and wellness programs and benefits. Moreover, give your employees the flexibility to work in a way that suits their preferences. This ensures your workers can feel great about what they do. And your employees can achieve unparalleled results for your business as well.

Optimise Employee Retention and Turnover

The previously mentioned tips can help you keep your employees happy today, tomorrow, and for many years to come. Meanwhile, if you want extra help to optimise your employee retention and turnover levels, Employment Professionals Canada can assist.

We are a professional staffing agency that takes the guesswork out of employee retention and turnover. Our recruiters ensure you can quickly add talent and keep skilled employees engaged in their work. For more information about our staffing services, please contact us today.