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Hold Onto Your Employees as the Job Market Heats Up!

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As the job market improves in 2014, retaining employees may be more difficult than you think. Ensuring your employees are well taken care of will help reduce the turnover rate for your company.

EmployeeSatisfaction

Paying attention to the stress level amongst your employees can also be a key indicator on whether your employees will begin looking elsewhere. However, this may be difficult for many companies if your employees are often on the road or out of the office. Touching base with your employees on a regular basis can help ensure both you and the staff are on the same page—reducing stress levels and increasing productivity.

Below are a few key items that can help improve your employee retention:

Offer a Competitive Salary & Benefits Package

If you meet or exceed what other companies in your industry are offering, you’ll have a better chance of keeping your best employees. Some of the essentials your company should offer are health & life insurance, as well as retirement savings plans.

Open the Lines of Communication

One of the best ways to ensure that employees are happy and understand their role within the company is to get upper management involved. When management takes the time to coach employees, a sense of trust is created—allowing communication throughout all levels of the company. Encourage your employees to ask questions and bring ideas to the table, creating an open-door policy.

Ask Employees ‘Why They Stay?’

Consider asking your long-time employees why they stay. This will help keep your finger on the pulse of what keeps your company thriving. Many employees are likely to be honest if you create that open-door policy from the start. Your employees need to know that they will not be reprimanded for speaking their minds. Odds are, if they are feeling a certain way—other members of the team are as well. Keeping the door closed can create a negative environment, causing your employees to look elsewhere for employment.

Provide Perks for Employees

Providing small perks for employees is also a great way to keep your employees happy. While the occasional free lunch or incentive may seem insignificant, your employees will appreciate it and may be more likely to stick around.

Retaining employees over the long-run is beneficial to your company, both financially and from a productivity standpoint. Following the few key items above can make a difference in not only the turnover rate, but the work environment as well.

For more information on employee retention, click here.

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