Business Services

How to Maintain a High Employee Retention Rate

Employee retention has long been a debated subject due to the variety of strategies that are being used right now. Some methods work effectively while others only create a snowball effect, eventually leading to a high employee turnover rate.

Richard Davis, Chief Financial Officer of Rogers & Cowan, believes that employee retention turns talent into performance. If the right people are in the right positions, your company’s output will be more effective as well as efficient.

New Hire Orientation

Many businesses skip over developing a new hire orientation program. Some companies don’t have the resources, and some just believe that it isn’t a necessary expenditure. As a matter of fact, these programs actually boost employee retention in the long run.

New hire orientation programs can be split into two separate programs: onboarding, and mentorship. New hire orientation shouldn’t be a single event but instead be an entire process that helps new hires become acclimated to your work environment. Mentorship programs should also be implemented, which will guide your new hires to successfully becoming an integral member of your workplace.

Listen to Your Employees

Successful employee retention works hand-in-hand with a healthy work environment. One that comes to work happy and motivated will translate into their direct output. Essentially, a happy worker will be more inclined to stay with your company.

In order to establish a successful team, it’s important that you provide them with all the tools that they need to succeed – both physically and mentally. Believe in them, advise them, and help them grow both as an individual and as a teammate.