Simple ways to increase employee retention

Simple ways to increase employee retention

Employees are major assets for any company. High performing employees create a competitive advantage for the company among its competitors. To increase employee retention companies need to adopt a better human resource information system, which directly helps the HR department to handle employees. Furthermore, companies need to come up with sustainable HR solutions to retain their best employees and face problems like retention and talent management. Recent studies indicate that companies spend 33% of a worker’s annual salary to replace an employee. Therefore, it is better to improve employee retention within your organisation. Here are some valuable tips to increase employee retention. 

Modify recruiting process

Any companies’ employee retention rate will go higher if they do a proper recruitment program. From the beginning of the interview to the on boarding, process candidate needs to feel that they are treated well and valued. During the on boarding process company needs to give a proper illustration of the company's culture and how their HR services can help candidates to develop their career. Human resource information systems enable candidates and employer to communicate through video conferencing and share ideas like an interview in a virtual platform. Moreover, companies can do recruitment process outsourcing, so that the company can save their time, resources and money, which is spent on recruitment. That is the easiest way to find good talent for your company.

Socialisation matters 

New employees try to adapt to the organisation culture in the first few weeks. These weeks are very critical because they judge the company based on the experience they are getting from the beginning. It is vital to build a better socialisation infrastructure within the company. Social media can be used to promote the culture and other company-related information among employees. Enterprise social networks can be a good opportunity for newcomers to share their thoughts with other employees. Also, companies can arrange lunch and small events to break down the barriers within newcomers and current employees.   

 

Offer unique perks while keeping the industry standards

As human resource managers, they need to research and keep in touch about how the competitors are treating their employees. Not just for the salary, every organisation must keep the industry standard. Having a good HR payroll software will help you to calculate a better salary according to employees’ performance.  As a result of the competitive market place, your company needs to offer the same offers to your employees compared to your competitors.  Other than the common perks, think about a unique perk system which reflects your organisation’s culture. Companies can think of gym memberships, discounted meal plans and tuition reimbursements as unique perks. Organisations can always use enterprise social networks to ask what kind of benefits that employees are looking at. Proper employee management software will give you the right information about your employees and through that, you can give employees customised gifts for a birthdays etc.

These kinds of activities let your employees feel valued and they tend to retain in your organisation. Having a cloud HR based software will easily do things for you. The latest HRIS systems provide a mobile application which helps employees and top management to implement any activity without any hassle. These types of HR services can be a key to retain employees because they feel very comfortable rather than doing things manually. Because of the evaluation of HR technology HR based elements are changing. Therefore, moving to better human resource management software will be beneficial for your organisation to improve employee retention.  

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