It has been surveyed that around 40% of employees say they wish to pursue a new job in the next six months, and 69% say they’re currently looking.
These statistics are alarming for employers. We hire only the greatest employees, and we want to keep them once we have them. We’ve already discussed why it’s beneficial for employees to stay with the same business for at least ten years. Now we’d like to offer some advice to companies on “how you can make your employee stay for a decade”
Clearly, in order for workers to successfully commit to a long-term commitment to an organization, the employer must provide a credible reason for them to stay. We urge companies to take proactive steps to create a culture that promotes good connections with their employees — the kind that leads to a long-term commitment, if not a long term commitment. What can an employer do? We’d like to give you crucial information about “5 R’s” of employee relationships:
Make a proportion of your employee’s pay contingent on the business performance. This will connect their interests with the firm’s productivity and revenue goals, establishing an intrinsic motivation for them to stay with the company as it evolves. You can make your firm more adaptable and agile while simultaneously treating your people extraordinarily well by making the fixed cost of payroll inherently more flexible under changing business conditions
Your incentive schemes should address your employee’s emotional requirements in addition to their monetary pay. Recognition in front of the business, company and department parties, service initiatives, lunches with the boss, branded apparel, handwritten notes, and other activities may all add to the firm’s positive culture and serve as morale enhancers.
Employees want to feel that they are valued and appreciated at work. People will easily forget what you said, but they will never forget how you made them feel, as the adage goes. Many workplace myths are based on the heinous things that tired and stressed-out bosses say or do. However, if managers make it a goal to demonstrate outward respect for their employees on a daily basis, it will result in a strong and long-lasting workplace culture, as well as good experiences and memories that they will never forget.
Give your employees tasks that encourage them to grow and show that you trust them. Encourage them to expand their horizons by learning new talents. Make sure that there are plenty of chances for continued training. When necessary, hire from within and provide significant promotions at the right time.
5. Relaxation Time
It’s time to unwind. Don’t be stingy with your vacation time. Provide enough time for sick days, family vacations, new infants, etc., despite the tough economy. Workflow pacing can help you maintain long-term employee connections. You should anticipate and even demand high-quality performance, but a constant level of pressure at 100 percent is unsustainable. Allow staff to catch their breath between assignments by scheduling team-building events or mini-break intervals throughout the day.
It’s vital to remember that a long-term commitment requires a combined effort. While it’s reasonable that most companies frown upon constant “hoppers,” bear in mind that if you anticipate and hope that your employees will make and retain a long-term commitment to your firm, then you should also provide them compelling reasons to stay.
For any recruitment related requirements, avail our services at Tek Inspirations LLC.