How to Reduce Employee Turnover (and it won't cost you!)

08/01

In today’s market, employees care about things besides just money. Company values and mission, corporate culture, work-life balance and company perks all weigh heavily on an employee’s mind. Among that list is Recognition. Employees want recognition, sooner than later, for their job well done. Positive feedback on a continual basis is key to making employees feel appreciated and offers a sense of belonging. If your employee felt they were not being recognized for their hard work and could make the same salary at another company (assuming all things were equal), why would they stay? The job market is incredibly tight right now as employers are all fighting for the same candidates. You must differentiate yourself from the competition, especially if you can’t offer fancy perks such as luxurious break rooms or daily catered lunches. How can you give recognition and reduce employee turnover? Easy.

1. Show praise for your employee’s achievements, in a group setting. Send out a company e-mail expressing the job well done. Make it known to everyone how hard the employee is working.

2. Send a hand-written note, or e-mail, expressing how happy you are that they are a part of your organization. Encourage the employee to keep up the good work and assure them that their efforts will not go unnoticed.

3. Take them out to lunch. Give the employee a bit of special attention. A little bit goes a long way.

4. Offer a reward. Your employee just closed a huge sale at 11:00am and is caught up on their other work. Consider giving them the afternoon off since they worked extra hard over the past few days.

Of course, promotions and salary increases are always welcomed by employees. But, if you are not willing or able to make that leap yet, these little cues of recognition will certainly go a long way and differentiate your organization from the competition. Don’t wait until an annual performance review to offer thanks and praise. Communicate the good news almost immediately! Employees today are no longer content being “just another employee” — they want to be recognized and appreciated. For more information, contact us.