The job market is thriving now and employees have the option to be choosy. So, you need to improve the employee experience. So just providing basic benefits including health insurance and PTO would not suffice. If you want to get the best-skilled individuals to work for you. You will need to go beyond basic things and make your employee experience exemplary.
Survey reveals that employee experience is directly linked with employee productivity, engagement levels, and an overall willingness to give their best for the organization they work for. To get the best out of your employees so that they would be willing to stay long term, you need to improve their experience. It’s a known fact that companies having a high employee engagement rate can bring in 2.5 times more revenue than those having lower engagement levels. Hence it will ultimately lead to the overall success and profitability of your organization.
So do you want to improve your employee retention rates? If yes, here are 5 tips that will reignite the spirit within your company culture:
1. Take your employee’s opinions in important decisions:
You can focus on collaboration by involving your teammates in any new advances which you are planning for your company. Employees are more likely to give their input better if there is open communication. If they feel that their work has a purpose or meaning their productivity levels increase.
Research shows that the employees who feel that they can voice their opinions work 4.6 times better than those who remain unheard. So try to improve your employee’s experience by including them in important decisions and soliciting their feedback when needed.
2. Work on setting up a good onboarding experience:
A good start to a long journey is a major requirement. Yet most of the companies we know do not have onboarding programs. They do not welcome their employees with even a proper onboarding experience. No matter how trivial it seems, it’s important for employee success.
Harvard Business review had stated that 33% of employees are likely to search for a new job within the first 6 months of joining a company. This results mostly from their onboarding experience. Hence, companies should set up a proper program that will be tailored to a specific audience having clear objectives set.
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3. Gain trust to improve the employee experience:
Without trust, it is difficult to build strong connections at your workplace.
Trust fuels productivity. Hence more trust between the employee and the company ensures that there will be progress in the organization. Also, you can give your employees a mentor who can coach them along with collect feedback. This widens your internal talent pool and will increase employee retention rates by a major percentage.
Now think of a workplace where there is very little trust between the employees and the employer. Do you think they would be motivated to show up every day and give their best? No right? This proves the importance of trust in an ideal employee experience.
4. Develop a long term career path:
Employee retention rates go much higher when they know that there is a scope for advancement in their career. It’s your duty to clearly communicate and let them know.
If valued employees of your organization are dissatisfied when they look forward to seeing no scope for advancement in their position, they tend to leave. They even land at a better organization getting a better salary. So how can you prevent this from happening?
Developing long term career paths or maps for your employees will help improve their overall experience. Put up programs to train your managers such that they can gain loyalty for the majority of your employees. Managers need to have a clear developmental plan for the employees and should be willing to discuss them with their employees.
5. Offer meaningful benefits to improve the employee experience:
Try listening to your employees and offer them something which helps them de-stress. Offering free lunch or smoothies in the common room won’t just do the trick.
You need to give them benefits like time off to cool themselves when they feel excessively stressed. Set up schedules based on their comfort and allow them time to breathe between two consecutive tasks. Also provide for their child care, mental health, financial health programs, health insurance, post-secondary education plans, etc.
It is a known fact that most employees would enjoy better benefits than a raise. Hence providing relevant benefits will be a requisition for your company’s talent retention.
Improve every step you take:
Previously employees used to work hard for climbing the proverbial career ladder and waited long for a promotion. But that isn’t the case anymore. Nowadays the modern employee no longer wants to wait for years to get a promotion. Surveys revealed that 45% of college grads hardly stay for 2 years at the same company. So your organization needs to have something special to retain the best talent in the market. Once you give your employees the work experience they long for, there is no going back. You will see.
Send out feedback forms to your employees once in a while to know how satisfied they are with your company. Fynzo forms would just do the trick. Easily create surveys and send them out in just one click.
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