4 Simple Steps to Ensure Employee Retention in an Organization
In a recent report published by Deloitte India, it was stated that turnover rates in India increased to an average of 20% in 2015. Attrition rates were highest in the IT/ITeS sector with an average attrition rate of 21.9% and lowest (10.5%) in the energy resources sector.
Needless to say that with such glaring figures, employers are definitely concerned about employee retention and are looking towards implementing new employee retention strategies in the present times.
While, implementation of new employee retention requires thinking ‘out of the box’, senior management can choose to think of some simple ways of retaining employees. Managers are the best possible solutions to this particular problem.
Employee Retention Strategies
Explained below are a few simple employee retention strategies.
#1. Communicate properly
Communication is the first step towards employee retention and managers must learn to do this with utmost articulation. Communication is as much about the words as it is about the voice tone, throwing and also your body language. All these, combined together makes for a good communication strategy. Try to strike a balance between assigning tasks and interacting with your team members. Sometimes ‘a pat on the back’ can actually do wonders for the employees.
#2. Coach instead of manage
Understand that providing coaching and guiding your employees throughout their journey is one of the best employee retention strategies. Try to make your employees feel responsible for the work they do and do not ever command them about work. While a check-in followed by occasional feedback is a must for them, avoid micromanagement at any cost.
#3. Set clear goals and make employees accountable
Establish well-defined metrics for evaluating an employee’s performance on a regular basis. Expect and demand good work. Do remember to acknowledge and recognize good work. This gesture has a strong impact on employee morale and boosts productivity. Making employees accountable for their jobs and tasks is a significant step towards employee retention strategy.
#4. Offer career growth opportunities
It is a proven fact that employees would definitely look for growth opportunities in an organization after a certain point. Therefore, it is essential that the organization offers substantial career growth opportunities to its employees in order to ensure proper retention. Do encourage internal hiring and if an employee wants to switch internally, do provide him or her with the required help. If an employee sees growth opportunities in an organization, chances are that he or she will remain with the same for a longer period of time.
As an employer, or more as a manager, if you follow the above-mentioned strategies, you will be able to retain a good number of employees for a longer period of time.
Author Bio: A digital media strategist and a content marketer, Sampurna is passionate about writing and blogging. Working as a full-time professional writer for more than five years now, she has been lending her expertise to the online world by penning articles and blog posts on jobs and careers, HR tips and the recruitment industry. She also enjoys reading and travelling