VCS Blog

04 March 2016

What Are The Most Effective Employee Retention Strategies?

Posted by VCS Software
Find me on:

Businesses today seek loyal employees who will work hard and always put their best foot forward. Retaining these employees will lead to overall growth and success when combined with the very distinctive qualities and motivational elements inherent in an effective workforce. This article discusses the elements that are critical to the successful creation of a strong and sustaining workforce.

Employee Retention Strategies

Hire Qualified Employees That Match Your Core Values

Opinions on successful recruitment strategies run the gamut of differences. It cannot be understated that a candidate’s skill set match the requirements of the job. During recruitment, it is equally important to evaluate the prospective candidate in terms of your organizational core values. The overall costs associated with a bad hire who will never become an employee that you are looking to retain can be overwhelming to a business in terms of lost productivity, time, and training. Balancing the job fit with the cultural fit competencies is critical in recruiting and retaining the right employee. By ensuring that the candidate is well skilled for the requirements of the job and meshes with your organizational core values, you will continue to recruit and retain key employees.

Provide The Proper Training

Training begins with an effective and structured onboarding program for the newly hired employee. An organized onboarding program ensures that the new employee is immediately introduced into the working environment and understands the company mission, culture and philosophy. Onboarding warmly welcomes the new employee and introduces the new hire to the social and performance dynamics of their new job while outlining the knowledge, training and behaviors required for success.

Retaining high performing employees begins with onboarding and should always include opportunities for continued training. Investing in your employees will reinforce their sense of value within the organization which in turn drives business success.

Offer A Benefits Package

Providing a comprehensive benefits package today is key to attracting and retaining top talent. According to a study published by the Society for Human Resource Management (SHRM), employees within today’s workforce desire :

  • improved compensation and benefit plans (53%)
  • enriched vacation and holiday benefits (35%)
  • new experiences (32%)

A comprehensive benefits package today takes into consideration not just the standard medical, dental, and vision needs of the employee but realizes the importance of incorporating health and wellness initiatives into the overall benefits package.

Reward Hard Work

Hard work goes a long way and should be recognized and appreciated. Employees will be motivated to keep up the good work if their hard work is recognized and rewarded. A reward system can be something as simple as praise for a job well done to providing additional vacation days, bonus packages or gift cards to, a favorite restaurant. Recognizing an employee through the introduction of an employee of the month program is another powerful tool that promotes employee satisfaction and drives overall retention for those key employees. Recognition is a powerful tool that used properly can drive performance and sustainability within the workforce.

Encourage Communication

Effective communication creates an open atmosphere where employees can feel comfortable expressing their thoughts and opinions both individually and as members of a cooperative team unit. Continued communication of the company’s vision and direction will ensure that the employee sees themselves as relevant to the future success of the organization. As such, it is important to communicate this message in monthly staff meetings and corporate get together. An employee that is in tune with your vision is one that will continue to be engaged while performing to high standards of success.

VCS | Scheduling Software

Manage your staff effectively with an automated scheduling solution that ensures the right number of employees are always working at the right place at the right time. Success is driven based on the proper management of an employee’s time. Using an automated scheduling system ensures that you are managing your employees effectively ensuring their success and overall job satisfaction. To learn more about VCS’ scheduling software solutions, click here.Workforce Management Solutions Expert