Agree with it or not- employees are the most valuable asset of your organization. But if you are not doing your best to value their contribution, don’t be surprised (shocked, in few cases) to see them go.

How to Reduce Attrition of Employees?

Appreciating hard work, maintaining regular communication, recognizing participation, staying transparent, offering competitive salaries and providing flexible schedule options are some of the best employee retention strategies that you can implement to keep your employee turnover rate in control.

Let us understand these strategies in detail below.

Awesome Employee Retention Techniques

Whenever an employee walks out the door, colleagues notice. Some even start thinking if they should switch, too. As a company, this doubles you work – you not only have to look for a replacement, but also ensure others don’t take this unfortunate step.

Therefore employee retention and employee job satisfaction should be on every company’s top priority list. Having an effective retention plan in place can reduce employee attrition rate. Read on for our top ten tips to retain your top talents and boost employee satisfaction.  

1. 1. Conduct Frequent Team Meets – Instead of waiting until the employee calls it quit to know whatwas going well, what kind of relationship that person had with their manager and what was not right and could been improvised, meet with the team frequently to discuss these items. Furthermore to engage them you can take their suggestions on the forthcoming event or ask for feedback on the past event, address their queries (if any), encourage them to ask questions. This make employees feel valued. Infojini ensure our employees get full attention and their concerns are addressed promptly. With this in mind, we have our special team who are regularly in touch with our resources to give them a sense of belonging.

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   2. Avoid Micromanaging – If you are hiring talented individuals, there is no need to micromanage. Since they are experienced, they know how to do their job. As a manager you can shower your trust and support their work, making them feel confident and valued. This will encourage them to take initiatives out of their comfort zone. If they succeed, they can use this as an experience. If they fail, they can take it as a learning. It’s win-win either way!
   3. Keep in touch – In most cases, communication gap is one of the prime reasons of high attrition rate. An employer can reduce their average turnover rate through regular check-ins with their employees. Such meetings take not more than 10-15 minutes, where you can discuss employee’s strengths, weaknesses, career goals, aspirations, pain points, and how you can address the issues and help them grow further. By investing minimum time you can win employee’s confidence and make them feel you care for their professional growth.
   4. Be Transparent – One of the best ways to reduce employee turnover, is transparency. A company should always be transparent about their progress and growth. You should provide clarity on what can be improved, what worked and what didn’t etc. Managers can retain employees if they communicate clearly with their team.
   5. Offer attractive compensation package and benefits – Offering a good salary package along with certain benefits like life insurance, mediclaim, flexible work hours can bring down your attrition rate. A lot of young employees mention the availability of 401(k) as the reason for accepting a job offer. Remember, better benefits equal reduced employee turnover.
   6. Recognize efforts – Offer regular performance feedback and applaud good work and initiatives. This is certainly the best employee retention activity any company can use. Employees, especially millennials love to know that their work is making a difference.
   7. Engage them – All work no play not only makes Jack, but even employees dull. People want to enjoy work – arrange for special HR activities at workplace to engage employees. This refreshing games encourage them to deliver their best every day.
   8. Encourage work-life balance – Yes, her son’s swimming competition is as important as work! Allow flexible start and end timings. By doing so you will get 100% committed and happy employees in return.
   9. Link pay to performance – Why not? By recognizing their above-average efforts you are motivating them to put in their best every single day. This can reduce your attrition numbers. Not just by money, you can also celebrate their success by ordering a special meal for them or gifting shopping vouchers.
   10. Training and Development – Irrespective of the industry or position, professionals look for advancements. As a good employer, you should invest in your employee’s professional development. You can talk to your team to know about their goals, and accordingly help them achieve those. Some companies pay for employees to attend workshops and seminars to help them excel in their domain. This will motivate the employee to give their best and benefit the company as the employee is happy – it’s a win-win situation!

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