Millions of employees are leaving their jobs during The Great Resignation. These employees are finding roles that better align with their values, goals, and interests.
Many of the reasons employees give for finding new positions include inadequate salary or benefits, unattractive company culture, and limited career advancement opportunities. Other reasons include feeling overworked and unsupported, being dissatisfied with management, and needing a better work-life balance.
As a manager, you must do what you can to increase employee engagement and job satisfaction. These actions encourage your team members to remain with your company.
Discover five strategies to increase employee retention.
Provide Competitive Compensation
Ensure each employee’s income aligns with similar jobs in your industry and geographic area. If you lack the budget to properly adjust salaries, you might provide bonuses, increased healthcare benefits, or retirement plan matches instead. Increased income shows you value your employees’ efforts and results.
Promote Work-Life Balance
Encourage your employees to maintain boundaries between work time and personal time. For instance, let your employees work remotely or hybrid. This lets them take care of their personal needs during the day. Also, discourage your employees from initiating or responding to work calls or emails during certain times. This reminds them to focus on personal responsibilities and interests. Additionally, encourage your employees to use up all vacation days and paid time off. This emphasizes the importance of spending time with family and friends in a relaxed environment.
Give Constructive Feedback
Talk with each employee in real time about their performance. Let them know what they are doing well, what they could do better, and specific steps to improve. These actions promote employee engagement, productivity, and performance.
Recognize Employee Accomplishments
Thank your employees for their contributions and results. Include the objective, the steps taken, and the impact on the organization. Provide a bonus, pay increase, or promotion when appropriate. These actions encourage employees to perform their best, stay engaged, and remain productive.
Prioritize Employee Advancement
Work with each employee to develop a career path within your organization. Then, provide opportunities to develop the skills required for advancement. Examples include task delegation, stretch assignments, and cross-training in other roles. Workshops, conferences, or classes may be beneficial as well. Helping your employees move forward in their careers encourages them to remain with your company long-term.
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