Approximately 60 percent of all employees have been with their current employers for 3 years. This is an interesting stat and it speaks to the importance of employee retention, which business owners should be mindful of. Not only will this help them build better companies, but Robert Jain can attest to the notion that it can save money in the long term. Here are some employee retention do's and don'ts to know.
If your goal is to retain employees, start by allowing them room to grow. Not only do ambitious employees want to do their jobs and make money, but they will most likely want to know how to get better. How can they continue to grow so that they can become bigger assets to their workplaces? Business owners should provide opportunities for growth whenever they present themselves. Such names in finance as Bob Jain will say the same.
It's also important for business owners to understand the importance of a work-life balance. While employees should work hard, it's equally important for them to devote time to their loved ones and outside interests. Life isn't about work on a 24/7 basis; this can actually make the workplace more stressful than it should be. By consistently expressing the need for the aforementioned balance, your employees will become more content.
When it comes to the "don'ts" of employee retention, losing one's cool with employees should be at, or near, the top of the list. No day at the office is perfect, but this doesn't mean that it should be seen as the end of the world. Business owners should know that even the best employees have off days, which is where calm, civil conversation comes into play. Talk out these matters with your staff; it will make for a better work environment.
Perhaps the best way to maintain employee retention rates is by recognizing standout efforts by employees. Everyone has a particularly good day, after all, so why not draw attention to such an event? This will make the employee responsible for this feel better, as if they're being valued by their workplace. Such encouragement goes a long way in motivating them, which can only benefit said workplace in the future.
If your goal is to retain employees, start by allowing them room to grow. Not only do ambitious employees want to do their jobs and make money, but they will most likely want to know how to get better. How can they continue to grow so that they can become bigger assets to their workplaces? Business owners should provide opportunities for growth whenever they present themselves. Such names in finance as Bob Jain will say the same.
It's also important for business owners to understand the importance of a work-life balance. While employees should work hard, it's equally important for them to devote time to their loved ones and outside interests. Life isn't about work on a 24/7 basis; this can actually make the workplace more stressful than it should be. By consistently expressing the need for the aforementioned balance, your employees will become more content.
When it comes to the "don'ts" of employee retention, losing one's cool with employees should be at, or near, the top of the list. No day at the office is perfect, but this doesn't mean that it should be seen as the end of the world. Business owners should know that even the best employees have off days, which is where calm, civil conversation comes into play. Talk out these matters with your staff; it will make for a better work environment.
Perhaps the best way to maintain employee retention rates is by recognizing standout efforts by employees. Everyone has a particularly good day, after all, so why not draw attention to such an event? This will make the employee responsible for this feel better, as if they're being valued by their workplace. Such encouragement goes a long way in motivating them, which can only benefit said workplace in the future.
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If you'd like further information about finance, in general, please contact Bobby Jain.
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