Employee retention isn’t just beneficial for employee morale, it is good for business. Better employee retention provides a better company image to the public – this entails that it is more comfortable to recruit top-level talent. If no one ever leaves, it is a great sign to a potential employee.
Better employee retention also provides a better company image with your customers and suppliers. It is easier to build up long-term relationship with people and that means greater productivity and earnings.
Better employee retention initiatives also provide greater products, services, etc. and happier employees. When people are happy to come to work, they work better which equals greater cultural harmony.
Better employee retention means less turnover and few resources dedicated to recruiting.
Here are some questions to contemplate:
- What is the present state of your employee satisfaction?
- Do you mentor programs either formal or informal?
- Training and education are a priority?
- Is the diversity training and education required, and consistently provided?
- What does your company do to make the workplace where everyone feels welcome and respected?
- How are the employee evaluations given? Sandwiched technique?
- How often employee’s feedback taken seriously?
The bottom line is that better employee retention equals greater productivity and profits.