Employee retention is a big problem for many businesses. When people leave an organization, they create a skills gap that can be difficult to fill. For a small business, the loss of a key employee is even more of an issue, especially if you have funded their online business administration degree. Of course, you can’t prevent employees from leaving. Paying more helps, but your operating expenses will be higher and a bigger salary only ever works in the short-term. So if employee retention is a big issue you’re your business, here are some tips to improve your employee retention rate.
Employees need to feel appreciated. Nobody likes working for someone who takes his or her skills and loyalty for granted. It is demoralizing. One way to make employees feel more appreciated is to suggest they study for an online bachelors in business from Arizona State University. Nurturing employees will help them see you are invested in their future growth and development. It will also bring new skills into the workplace, which is a win-win for the business.
Engage on a Personal Level
It is a mistake to become everyone’s best friend, but a good manager always makes an effort to develop a personal relationship with his or her employees. Socialize and relax with employees out-of-hours. Ask after their family and make sure you are aware of any key events in their life. If someone is having a tough time in their personal life, commiserate and cut them some slack. In turn, they will go the extra mile when you need them.
Education is great, but don’t neglect to offer your employees opportunities to grow as people. Big businesses recognize the benefits of letting people take unpaid leave to pursue their own interests. This doesn’t mean you should allow employees to disappear on a backpacking trip for a year, but allowing them to take a day off here and there so they can get involved in charitable ventures or community activities is a good thing. It is also great public relations for the business.
Share Your Goals
Employees don’t want to feel as if they are a small cog in a giant machine. They are more likely to be engaged when they understand what they are working towards. If you are trying to secure a major new client, be open about it with your employees. Make it a team effort so everyone gets on board. The more they feel invested in the outcome, the harder they will work.
Lead from the Front
Your employees will respect you more if you lead from the front. Be transparent about where the business is going and if you make a bad decision, take ownership of that decision. Hold yourself accountable at all times and your employees will be more engaged as a result.
Employee engagement is more than just a HR buzzword. Keeping employees engaged ensures they stick around for the long haul, so instead of offering more pay, look at why employees are leaving and fix the problem.