With the current “Great Resignation” phenomenon and so many available job opportunities, finding and retaining employees makes a significant difference in company culture. Building a staff of loyal, happy, and motivated employees makes work enjoyable for everyone on the team.
If you’re looking for ways to reduce your turnover rate and keep your team around for longer, here are seven tips for building a loyal staff.
Invest in corporate gifting
Your appreciation for your team may know no bounds, but your employees won’t be privy to mental notes without a physical token of your gratitude. While stockpiling gratitude and showering employees with presents aplenty during the holiday season is a strategy shared by many employers, giving your employees gifts throughout the year shows them you care and helps build loyalty. Ultimately, any corporate gift, like employee Christmas gifts, for example, should reflect your company culture and your knowledge of your employees.
If you give gifts with your company name on them, those gifts become conversation starters when they use them out in public. When browsing the catalog of different offerings, aim for something classic, tasteful, and high quality.
Pay for training
Employees appreciate when their bosses invest in them. When you offer training, you show that you want your employees to stick around and learn skills that will benefit them and the business. With so many virtual training options, educating your employees has become straightforward and affordable.
Promote from inside
Nothing drives away loyal employees faster than not promoting them. As soon as you have openings, your employees should be the first people you consider.
Many HR departments ask their loyal employees to make recommendations about internal and external candidates. When you give your employees some say over who they work with, they tend to stick around because they like their colleagues.
Give your employees choice
Humans like choices, especially when it comes to incentives and motivators. For example, if you are offering training opportunities, let your employees choose from a few options. Your team will feel like you value their ideas and continue to grow their feelings of loyalty.
Another option that employees appreciate is having flexibility with working from home and in the office. When you give your team options, you show that you trust them. Workers stay satisfied and want to keep working for you.
Offer fair compensation and benefits
Most people work because they need the money and benefits. To prove that you value your team, pay them a fair wage and include as many benefits as possible. If you don’t pay well, your people will leave for positions that have more compensation and better benefits. The most desirable benefits include:
- Childcare expenses
- Sick pay
- Investment and retirement funding
A little extra room for employee compensation in the budget can go a long way towards reducing your recruitment costs.
Listen to your employees
All too often, employees worry that their bosses are out to get them. Instead of being that type of boss, be the type that employees can talk to comfortably. When you listen to your employees, you’ll find that they want to talk to you, and they appreciate your opinions and responses.
Build a conflict resolution plan
When you gather a group of people together for extended periods, conflicts will arise. Establishing a conflict resolution plan lets employees know you value them and you want them to be able to work out their differences.
Building a company culture that values employees involves listening to them, paying them well, and recognizing their contributions. When you treat people with respect, they will stick around, and your company will flourish.