In the modern workplace, it is increasingly common for employees to JOB- 
hop. While this fact is true of the millennium, it is certainly not a quality that only impacts them just as workers of all ages value mobility more stability in the workplace. If you want to keep your workers (and not jump ship), you must know which employee retention strategies can work for you.
The cost of the loss of a worker
in other words: employee turnover costs time and money. To understand the cost of losing an employee, examine the hiring process all advertising the position, staff time required to sift through resumes and interviews, and then finally, training the new employee.
costs that are often overlooked because they are difficult to monetize are loss of productivity and commitment of existing employees left to take over. In addition, a new employee is required to make more mistakes than a veteran.
employee retention Importance
According to the Bureau of Labor Statistics, the average employee stays with a company for only 4.6 years. How are you supposed to do anything when you fill a position every few years? It is not only disruptive but decreased morale among your current employees.
The most important thing to remember here is that happy employees work hard .
Studies have shown that happy employees are 12% more productive than their disengaged colleagues. sellers and happy women report the highest sales figures by about a third. Happy employees even take ten times fewer sick days than their counterparts unmet.
employee retention strategies that can work for you
The good news is that happy employees stay . There are many ways you can improve your employee retention strategy. Here are some ideas:
- Give a chance benefits. Most small business owners believe that offering insurance to their employees is impossible, but options such as bonuses repayment terms can help you stay competitive.
- Read on certain strategies that have proven successful for other companies. Small changes, like recognition programs, flextime and social media shout-outs can have a significant impact.
- Consider telecommuting. Employees generally report higher levels of happiness when they are able to work from home. They learn to jump the route and you save on rent. It is a win-win!
- Conduct exit interviews. It is important for you to understand why your employees jump ship. Encourage them to be honest and write their thoughts down. This will help you find patterns over time.
Conclusion
It may seem daunting to read that employees do not stick around long, but the adoption of proactive employee retention strategies can make a big difference in your business. Happy employees mean increased sales for you, increased productivity, and reduced costs in sales.
What do you do to strengthen your employee retention strategy? Let us know in the comments section below!
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