4 Employee Retention Strategies for 2021

Hiring the top talents is difficult enough for recruitment agency Northern Beaches experts. But, retaining them is another level of difficulty to take. Employees today quit companies that are no longer providing them with professional advancement. If an employee also feels unappreciated and underpaid by the company, their chance of staying gets smaller. So, understanding employee retention to keep the top talents is a must.

Employee retention is highly important for companies. If it's low, that means you constantly lose employees. Losing employees speaks something about the company and how you treat them. But, if you have a high retention rate, that means you take good care of employees. It would be a good shade for your business. Thus, you'll be gaining more clients and you'll be staying in business for a long time.

However, as we are in the midst of a COVID crisis, most people struggle to get a job. The unemployment line is long as most of them either lose their jobs due to layoffs or their companies shut down. As some businesses are finally opening up again, employees are returning to their desks. And if you're not treating your people well, they can find better opportunities. So, to stay ahead in the game, you should rethink how to keep your people. Here are some creative ways to retain your employees during these times.

Flexible working arrangements

One of the things we learned during the first months of the lockdown is how to adjust to a work-from-home setup. Since the lockdowns are sudden, there is no other choice for us but to adapt. We realised that it works and being productive is possible despite the numerous distractions at home.

In the post-pandemic world, more employees are looking forward to working remotely permanently. Allowing employees to choose between work from home or in the office has become a hot topic. Some companies are not 100% sure about this setup. But, some are all in for the idea of a virtual workforce. Aside from saving time and money for travel every day, it is a much safer option to work from home. According to a survey by the University of Sydney Business School, more Australians want to work from home with an average of two days per week, post-COVID.

This setup can also benefit employers. They can save infrastructure costs, overhead costs, reduce late and absenteeism. The best part is since you can hire from anywhere you have the whole world for a talent pool.

Improve employee well-being

Another thing that this pandemic taught us is how to keep ourselves as healthy as possible. Health is wealth, indeed! And it would be great if all employers can see its importance, especially during these difficult times. Health should be the top priority in all facets of life.

Your employee's physical and mental health should be taken care of. As employers, you can have your people attend a webinar about coping during these pandemic-stricken times or other relevant topics. Aside from the usual leaves and free checkups, you should give more health activities to your employees.

Even while working remotely, you can set up several activities or a health plan for your employees. This is to help them gain more interest in exercising and eating healthy.

On the other hand, providing them with health insurance is the best course of action.

Appreciating your employees

Appreciation, above all else, is a great way to encourage your employees. Most of them, if not all like acknowledgement and recognition together with the necessary reward. Doing so will go a long way. It also helps increase your employee's self-esteem and confidence. Once they get the acknowledgement they deserve, their motivation to do more also increases.

You can also send them handwritten thank-you letters, care packages, social media posts, etc.

Flexible work hours

People work at different paces. Some could be more productive at night, while some prefer working in the morning. Some might choose to work at night because they have a small child to care for during the day. What's most important should be, they fulfilled their obligations and quality work remains.

This mostly applies to a remote setup whereas, your employees have different chores to fulfil before focusing on work. They could be cooking for their family and cleaning the house first or caring for their old parents before logging into work. Considering these scenarios will be fully appreciated by your employees and in return, they will work harder to reciprocate your kind gesture.

Allowing them to work on flexible hours ensures quality and productivity as they can work on their own time but with a deadline.

Takeaway

The pandemic has taken a huge toll on both employees and employers. Many have lost their jobs and some had to give up on their only way to make a living because of various reasons. It wouldn't hurt to care more for your people so they will also work harder to contribute to your company. It should be a give and take culture to make your employees happy, contented, and encouraged while you get to keep your business growing.