The key to running a successful business isn’t amazing marketing or flawless product design, it is employee loyalty. It doesn’t matter what you do and how you run your business if you don’t have a team of loyal employees who are willing to stick by your company and help it succeed.
But employee retention is harder to achieve than some people realize. Employees all over the world quit their jobs every day for different opportunities, and business owners are struggling with finding new ways to keep their workers. If you’re in the same boat, these employee retention strategies should help.
Use an LMS
Employee retention starts from the first day you hire them. The way an employee is trained will significantly affect how they view their place of employment. If you want to create the best possible training content and deliver it to new hires, you need to use an LMS.
LMS, or a learning management system, is a tool that allows you to create a remote-friendly training program, manage it, and deliver it to your employees. With old-fashioned training methods such as presentations and instructor-led programs, the business world is in dire need of LMS programs.
Regardless of whether you operate on a remote level or not, an LMS will help you train all of your new employees and give them access to all of the information they need when they need it. If you have training materials that aren’t useful or relevant, if your employees don’t engage with training, or if all you can offer is a one-way stream of information, you need an LMS.
The type of LMS you should get depends on multiple factors, including your location. If you’re located in the UK, for example, you can look for learning management system UK options to give your employees a real personalized experience.
Celebrate work anniversaries
One of the ways you can keep your employees around is to show them how much you appreciate them for their hard work and loyalty. Keep in mind that 44% of employees switch jobs because of not getting adequate recognition for their efforts.
So, you need to recognize your employees’ hard work and efforts consistently. This includes small recognitions such as verbal praise after they complete an assignment or celebrating milestones.
And while there are multiple milestones you can celebrate, one thing all of your employees will surely enjoy is work anniversary celebrations. This is a great way to show them you appreciate their hard work and make them feel like they’re not just an employee but also part of your work family.
If you aren’t sure how to celebrate this big milestone, Hoppier has some interesting work anniversary ideas that are bound to make a good impression and be memorable.
Don’t just offer a salary, offer benefits
A lot of business owners are under the misconception that the only thing they compete on when it comes to attracting and keeping high-quality employees is salary. And while the payment you offer is very important, it isn’t going to help you keep your employees if they get a better offer.
This is why, apart from offering a competitive salary that’s high enough to compensate for the work you’re paying for, you also need to offer certain benefits. At the least, you need to offer a retirement saving plan and you could also consider offering health and life insurance as well.
You can also include some additional perks such as remote work for those who want it, flextime, free office lunches once a week, or anything else you think your employees might enjoy.
If you don’t have any ideas of what you can offer, talk to your current employees to see what benefits they would like to receive and what kind of changes you could make to the office.
Focus on professional development
If you hire the right employees, you can be sure that they’re great at what they do. After all, the workforce is filled with good workers who are willing to prove they have what it takes to succeed.
But the difference between a good employee and an amazing employee is whether they’re ready to reach their full potential. And a difference between a bad and a good employer is whether they will help them fulfill that potential.
This is why you need to offer professional development for all of your employees who are willing to enhance their skills and become even better at what they do. It will show that you are willing to provide your employees with the material they need for growth and progress, both personal and professional.
Since 60% of employees list learning new job-related skills and advancing their careers among their top priorities, you can be sure this is something your employees will gladly partake in. As long as you offer the right type of professional development, everyone will be happy.
Final thoughts
At the heart of every business, you are going to find hard-working employees who are putting in their time and effort to make the operation run as smoothly as possible.
Never forget that without these employees, you wouldn’t have a business at all, so make sure to treat them right and do whatever it takes to make them stay. The tips you just read about should help you to do just that.