employee retention

Top 5 Employee Retention Strategies

If you’re running any kind of business whatsoever, then there’s a good chance you have to deal with employees. To keep your business running smoothly, you’ll naturally want to keep the best employees on board, which means you’re going to need a playbook to make them want to work for you and prevent them from siding with competitors. Here are some of the most common strategies you should keep in your pocket for employee retention.

Give Them Great Pay

Perhaps one of the most straightforward and obvious ways to keep great employees working for you is to pay them well. No one works purely from the kindness of their own heart, after all, and the better the compensation you provide your team, the more likely they are to stick around. Keep in mind, however, that great pay, while it is important, must be combined with other retention factors if you want to build the best employee team possible.

Build an Awesome Team

Great employees tend to want to stick around when there are other great employees for them to interact with. If you want to keep your very best employees around, make sure that your entire team dynamic is one where people get along, support one another, feel comfortable working together, etc. This will keep them tight knit and pointed toward the same goals.

Make Sure They Can Grow

If employees feel like they’re stagnant, they’re going to be less likely to put in maximum effort. Situations where they perceive that they have no chance for advancement might even cause them to check out altogether. To keep the very best employees on board, you’ll want to ensure that they have a path to get ahead within your organization and show their best work.

Provide a Challenge

Similar to the above point, you’ll want to make sure that your employees aren’t feeling bored on the job. If they feel like their abilities are going to waste, they won’t waste time finding a new work environment where they feel more appreciated. Give your employees challenges, and they’ll be more likely to stick it out with you for the long haul.

Stay Supportive as an Employer

Lastly, you’ll want to remain supportive and loyal as an employer. If an employee is always looking over their shoulder, for instance, afraid they’ll be wrongfully terminated or backstabbed by their boss, they’re not likely to stick around to find out! On the flipside, though, taking a genuine interest in your employees and their professional wellbeing will make them more loyal to you, and increase the chances that they’ll remain on the job.