With the unemployment market being really low, it is important to retain the good employees you have right now. Managing employees well is the first step to making sure your employees are not looking at new jobs.
Complete Onboarding Process
Onboarding can be a continued process for longer than 30-days. In fact, some studies find that it takes an employee at least one year to make a decision about whether or not to stay with a company. Finding ways to continually connect with your new employee over time is important. One such example is to use 30-60-90 check-ins and then make check-ins regularly each quarter. These are more so to allow the employee to feel comfortable expressing concerns, goals and share their successes with you to feel like an integral part of the company.
Offer a Robust Benefits Package
A benefits package is driving many employees to either stay or leave a company. The reason is that 401(k) plans and medical benefits are in high demand with the younger generation as they are paying more for medical and watching their parents work longer to cover retirement. Offering a robust benefits package that helps ease the concern in these areas is a must.
Create a Lifestyle
Allowing for your employees to be semi-flexible with their work schedules means that they can have a good work-life balance. This is important for a younger generation that wants to feel valued in what they do within an office and place of work as well as in their personal lives. Many choose to volunteer and have personal time during hours they would be working. The ability to participate in a few of these things means that they will appreciate their job, stay at a company longer and be loyal to a company.
Find Unique Ways to Recognize Successes
Recognizing employees for their successes is an important aspect of being a good boss and offering a good culture and work environment. Employees that feel valued have a higher rate of production and stay with companies longer. Many younger employees value a manager and work directly for a manager versus a company. That means also valuing your managers and encouraging them to stay helps to reduce turnover.
If you need help with finding additional employees that fit your culture, let us know! We can help. We understand the difficulty in finding good employees during a tight market and can help you identify the employees that are right for your business.