As an entrepreneur, you realize that you need to pull in extraordinary workers. What’s more, you need them to remain, in light of the fact that activity maintenance converts into benefits, since individuals are educated and they cherish what they do. The outcome? Spectacular client benefit. And…Jobfulfilment.

Read Also: 15 Employer Interview Techniques To Find The Best Employees 2019

1.Reasonable pay

A worker’s prime and the most important motive is to earn revenue and that is something that they stick by, in this business world, we all are looking forward for the profit but company lacks by the genuine need of the workers.

A reasonable pay to the employee will help them to justify their work and they will end up giving their 100% to the company which will definitely lead to the growth and betterment of the company in order to succeed.

A company or a business is only successful when their workers are happy and satisfied because it’s the workers or employee who are running the company on ground level.

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2. Acknowledgment.

Everybody has an influence in the organization’s prosperity. A promising and honest organisation makes the worker having more faith on organisation.

Pausing for a moment to recognize somebody, composing a card to say thanks on a Post-It, or beginning a Rubber Chicken Award can mean more than you know.

Never dither to offer credit to the individuals who merit it. A little praise to the top performer or the best employee will make that very person happy and this action will motivate other workers to work even harder to be in the lime light of the company.

3. Consider their Input

Everyone is talented in their own way, if the company realises it then it opens different door of growth. A company should not be running by the ideas of boss or the board of directors, a company is an organisation of all the workers working for it.

Be it the associate or any person of lower designation everyone’s suggestion should be given a thought. Everyone should be allowed to put up their part of suggestions and point of view in any aspect of the organisation.

e it the associate or any person of lower designation everyone’s suggestion should be given a thought. Everyone should be allowed to put up their part of suggestions and point of view in any aspect of the organisation.

This makes the workers or employee feel that it’s their company too not an organisation that they are hired to which only wants them to work and leave. The company should make them feel that it’s their very second home.

4. Unimportant poop

As any one is not born perfect, an individual works on their part of skill to make it better day by day in order to grow. A company should be always available for the employees need be it personal or professional.

This makes the workers or employee feel secure and protected and also builds up trust and faith towards the company. It’s really very important to make sure that each and every little thing of the employee should be taken care the organisation should be ready with the personal help if an individual need.

Furthermore, confidence busters. Wipe out or limit however many day by day disturbances as would be prudent, and your staff will do you on their shoulders.

Read Also: 45 Motivational Quotes For Employees

6. Control

For a company to grow and succeed the most important priority is to make sure the work is done, the revenue is generated and the targets are matched. A company must have strict rules and regulations for the work and deadline of the work.

The more representatives feel they can assume responsibility of their day, the more joyful they are. On the off chance that you’ve employed well, trust individuals to carry out their occupations.

Your entryway is open on the off chance that they hit a tangle or need your info, yet something else, expect that they will convey, on time, without fail.

Your entryway is open on the off chance that they hit a tangle or need your info, yet something else, expect that they will convey, on time, without fail.

7. Assortment

As the word is improving very fast because the technology keeps improving day by day so it’s really important for employees to improve their skills according to the requirement of the market or adapt new methods for better growth as well.

If the company sets up trainings and tests that can be the learning part the will gain from the organisation. It tends to test think of new things for individuals to do, however everybody will value another test and the chance to handle it.

Weariness prompts withdrawal, an organization’s most noticeably bad foe. Ask workers what they’d like to do or learn. You might be excited with the outcomes!

8. Culture

The most joyful representatives coexist with their colleagues, and even keep on observing them outside the work environment. A domain with superfluous pressure, adaptability, demeanour of acknowledgment, and steady managers make individuals happy to come to work each day.

In the end of the day a happy environment leads to a happy and healthy work place. The unique culture or a unique practice of enjoyment will lead to excitement amongst the employee which will definitely play a very important role in the stability of the employee.

9. Prizes

It’s a great way to make your employees happy, rewarding them with gifts and bonuses keep them motivated in order to do work better ahead, notwithstanding when the individuals didn’t all get along.

Motivating forces require not be costly; time off, gift vouchers, or an uncommon parking spot have been fruitful. And if the employee stays happy the will definitely make the organisation happy.

So rewarding them will be a good way to keep the employee and organisation relation healthy.

10. Pioneers

 At the point when workers can regard and trust the initiative group, they feel secure. Pioneers who are open; can impart well; give fair reports; and tune in to workers are critical to work fulfilment.

Read Also: How To Give Positive Feedback To Employees

Being honest and giving fair regards or fair reports always attract the employee to be the part of the organisation as the gain trust and have full faith towards the organisation which make them responsible and will have respect for the organisation.

As an entrepreneur, the best thing you can improve the situation your workers is to furnish them with occupation fulfilment. When they are upbeat, they will effectively make the organization fruitful. At last, everybody wins.

Employee retention is one of the key concerns for HR in every company. While some percentage of attrition is unavoidable and even healthy, nobody wants to lose high performers. After all it can cost upto 200% of annual salary to replace a high skilled employee.

Average attrition rates differ from industry to industry. Government organizations typically have low attrition rate whereas industries like staffing and hospitality can have attrition as high as 300%. Attrition also changes along the hierarchy. Positions at lower end typically have higher attrition than mid and top-level management positions.

Here are some ideas to consider if you want to keep attrition at your company under control.

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  1. Frequent Appraisals

According to Glassdoor, 35% of employees surveyed said they would look for a job if they did not receive a raise within the next year.

We all know that the months post appraisal, are when employees are most likely to leave. If they think that appraisals do not match their expectation they had, they will start looking for jobs in the market. For this reason it is important that managers and HR manage expectations throughout the year and not just during appraisal month.

Hold regular performance discussions so that there are no unwanted surprises at the end of appraisal cycle. Quantify as many KRA as possible.  Employees are less likely to be disappointed when their numbers have been discussed with them regularly.

If your company policy permits, its also a good idea to have appraisals semi-annually or quarterly. This keeps employees motivated and they are less likely to leave.

  1. Team Building Activities

People are less likely to leave if they are having fun at work and feel attached to their co-workers. Everyone loves to work with in a close knit team and would not want to give up friendships they have built in office.

Outbound trips, employee engagement activities and corporate events are good ways to forge friendships at workplace. Games, dance events and competitions infuse fun in your culture and improve employee engagement.

  1. Stock Options

This is a good way to retain employees if your company is in start-up or growth phase. ESOP or employee stock options give employees a sense of ownership and belongingness. They are the engines driving your growth so it is also a just compensation for small and mid-size businesses that cannot afford big paychecks.

Stock option of company with growth potential will retain employees. They are more likely to stick around till the company has made it big and their stock is worth a significant amount.

  1. Work Environment

Company culture is another factor that affects retention.  Although most people think of Google offices when it comes to good culture not every company can allow pets and bean bags at office.

The idea here is not to copy the cultures of other companies but to have a strong culture of your own. By strong we mean that the environment is positive and your core values are clearly reflected in everything that you do.

Some values that contribute to positivity at workplace are transparency, safety of workers, credibility and integrity. There is no ‘culture formula’ that fits all companies but one should avoid culture that lead to office politics, inefficiency, jealousy, harassment.

A toxic environment is the quickest way to send away your best employees.

  1. Referral System

Referral system is a great way to encourage employee bonding and maintain your company culture. Because your employees know the culture of the company they are likely to invite only those friends who fit within your organizational culture. What’s more is, the person hired is more likely to stay because he is now working with his friend.

  1. Job Role Change

Another reason why people quit their job is monotony. Doing the same job for years together, can get boring and uninspiring. People tend to think of career or role change in such a scenario.

What if you could give them this opportunity within the organization? Start an internal job postings portal for employees looking for a change. Not only will you stop employee attrition but you will also fill another position without having to spend on recruitment, training and orientation.

Some companies also have a policy of job rotation every few years. This keeps the work fresh for employees and brings in new ideas into each department.

  1. Learning & Development

According to Udemy, 46% of employees said that learning & development is the most important benefit when deciding where to work. People want to get better and learn more skills in order to advance their career. In-fact self-actualization is the highest of needs in Maslow’s pyramid of human needs.  So once you have taken care of financial and belonging needs of your workforce this is the next obvious step.

Employees are more likely to stick around if your company takes care of learning and development by regularly investing in people. This lets the employees know that you care for them and are committed to keeping skilled people in the organization.

  1. Managerial Training

Nearly half of employees said they’ve quit a job because of a bad manager, 56% think managers are promoted prematurely and 60% think managers need managerial training (Udemy).

Managers are the face of the company for your employees. They are the ones who interact with them day to day and have to get the work done. Incompetent managers increase stress for everyone and struggle at motivating their team.

Incompatibility with managers is one of the common reasons for employees to leave their job. Every team member requires a different kind of approach by managers and you must invest in training your manager if exiting employees are citing their reporting manager as a reason for resignation.

  1. Flexible Work Options

Expectations about work-life balance are changing as younger generation enters the workforce. 86% of employees between the ages 18-34 said they’d sooner sign a contract with remote work options.

There are plenty of freelancing opportunities and digital business options now available. People do not see the need to go to an office for a strict 9 to 5 job. Incidentally, this is profitable even for companies as it cuts office premise cost and conveyance time.

You must work on flexible work options if you are to remain competitive in market today. Work from home, flexible working hours and remote working are soon going to be a norm in many industries.

  1. Feedback Loops

Nobody wants to leave their well paying job if there was a way to work around problems of a job. Many companies don’t have any feedback mechanism and loose employees because they have no way to resolve their issue.

By collecting regular feedback on employee engagement you can avoid the employee drain that is coming in the future. Give you employees a change to voice their concerns so that they do not have to take the extreme step of quitting their job.

Establishment of employee redressal cell, anonymous feedback, harassment cells helps to solve problems early and retain your best performers

Conclusion

Employee retention is getting increasingly difficult in today’s competitive market. Employee retention and engagement is an important department within HR for this very reason. Based on your industry, size of company and workplace culture, you may pick up the most suitable ideas from the mentioned.