The Basics of Employee Retention
It is already quite clear that increasing employee retention is a major problem for companies nowadays. In order to reduce attrition and to maximise productivity (while the employees stay with the company), employers should focus on providing a great employee experience at every important stage of the employee journey. In simple words: to create an environment where they feel good and by this we do not just mean a game room, a couple of soccer tables or free soft drinks in the cafeteria, but quintessential changes and policies, which have an effect on the company’s culture.
Creating an outstanding employee experience will have two important consequences:
First, it will create higher productivity during their tenure at the organisation. Second, employees will definitely stay longer with the company than they would otherwise.
What is needed for this?
- Feeling of importance
- Connections to the team, to the manager etc.
- Positive attitude
What actions should the company take?
- Create opportunities for dialogue and interaction, facilitate communication and co-operation between the employees
- Communicate internally in a timely and sufficient manner, thus minimising the possibility for company rumours
- Give feedback and recognition
- Hire happy colleagues – “Always be nice!”
When companies encourage the development of meaningful and personal relationships, increase the sense of significance of the employees and create a supporting environment, their employees will gradually become more loyal and productive.