Here’s How You Can Retain Employees And Minimize Turnover

Employee retention starts exactly at the moment of joining an employee. From good compensation and a competitive environment to growth opportunities and flexible schedules, everything matters. And you can only minimize employee turnover by actively helping your employees achieve their goals along with organizational goals.

Here are 14 ways of How to Retain Employees in an Organization

  1. To minimize employee turnover, you need to select correct employees in the recruitment process and know if their personal goals match with company goals. Also, be upfront about the responsibilities of the employee from the first day because miscommunication leads to early resignation.
  2. Along with choosing the right employee, if at any time you don’t find the perfect fit, go for a person with competitive skills and a zeal to learn new things. It is natural to choose someone with nearly similar skill-set, but that won’t always work in your favor.
  3. Today, hiring managers often go for the lowest pay. They tend to pick an employee who asked for the lowest compensation. While these employees can turn out to be extraordinary, offering good compensation with benefits always works in favor of the organizations. Your employees are more likely to stay and there is a great chance of minimizing turnover if you give a decent salary.
  4. Help your team grow personally. Organize sessions and workshops, and hold creative sessions for personal involvement and learning.
  5. Some managers have a habit of disrespecting their team members. While that is one case, another is when managers aggressively disregard their team members by shouting and insulting them in front of others. That is highly demoralizing even when you think of it. Consider talking to such managers and fix this problem before your team starts falling out.
  6. Conduct performance feedback sessions every month or every week. This way employees will understand where they are going wrong, and when someone performs exceptionally well, they get appreciated.
  7. Reserve one day in a month for recreational activities and fun activities. It doesn’t have to be a particular day, and it should not feel like work. Make it fun, celebrate on victories, and let everyone get acquainted outside work.
  8. Allow work-from-home. These days many organizations don’t offer work-from-home opportunities for unknown reasons. Unless your organization really needs the person present in office during work hours such as in banks, allow your employees one or two work-from-home days in a month.
  9. Link incentives directly to employee performance. This will not only boost morale of your employees, but also motivate people to work harder.
  10. Pick your employees carefully so that you can reduce overtime days. Overtimes are a hassle because everyone has a personal life and people have a family to attend. So, try to decrease overtime to minimize employee turnover.
  11. Many employees of your organization may be away from home and family on holidays. Give them a chance to embrace and celebrate festivals, traditions, etc. It does not have to be big, just a small party can spread smiles on multiple faces.
  12. Large organizations often collaborate with educational institutions to provide higher education opportunities to employees. Small and medium organizations can also work this out, and give its employees a chance to study while working.
  13. Don’t be overly strict about breaks, and let your employees bond with other employees and make friends. Having friends at workplace reduces the burden and encourages high productivity.
  14. Instead of a hierarchy, maintain an equal level relationship with employees so that they can reach out to you directly in case of concerns.
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Rakesh Jain

Rakesh Jain

CEO at paysquare
Rakesh is a seasoned finance professional with 20 years of industry experience. He is the CEO and founder member of Paysquare. With his industry experience and vision, he has been a catalyst for developing Paysquare as one of the preferred destinations for payroll outsourcing.
A strategic and innovative thinker, Rakesh has successfully driven the growth of Paysquare and developed many new business opportunities. He has always believed to investing in cutting edge technology to stay ahead of the curve. His transparent approach and high level of integrity has earned him accolades from several clients.
Rakesh Jain

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