The Wall Street Journal offers up a few ways to increase employee retention and avoid the time and productivity costs businesses face with high employee turnover.
Provide some small perks – It’s the little things that may help employees manage their lives that they’ll appreciate, and that lead to a higher likelihood of them sticking around.
- Examples: free bagels on Fridays or dry cleaning pick up and delivery options
Promote from within when possible – This gives employees something to work towards and strive for, so as to not become complacent or frustrated in their current role.
Create open communication between management and employees – Having regular meetings or an open door policy encourages employees to speak frankly with their managers – without fear of repercussions.
Make sure employees know what is expected of them – Simple enough, right? Knowing what exactly they are responsible for and how they are expected to get it completed allows employees to strive to meet the standards you set.
- Often in small businesses the jobs responsibilities are a large and wide range of tasks – if employees cant perform up to standards because they don’t know what you’re looking for each and every time – morale can begin to dip