Employee retention is a crucial aspect for employers. Whereas many companies boost their efforts to improve the company culture and build a team that is cohesive, utilizing benefit packages should also be a top priority. Several factors influence why employees leave, but focusing on how to retain your employees with benefits and perks could deter staff members from choosing to leave your firm. Enhance your retention efforts by determining the benefits your employees want.
Launch a Wellness Program
An increasing number of employees seek ways to stay healthy while on the job. Improve your employee retention by organizing a wellness program that ultimately improves the health and mental well-being of your staff. Schedule on-site screenings to eliminate the need to take time off to attend doctor appointments or health screening sessions. Distribute surveys to determine common ailments your employees suffer from on a regular basis. Develop challenges and programs to promote activity and reduce the amount of sedentary time spent in the office. It is likely that your employees will feel more engaged and energized when fitness programs are incorporated into the workday, which ultimately affects productivity and profits in a positive manner.
Require Exit Interviews
As a manager, it is important for you to analyze the factors that impede employee retention. Conduct surveys and focus groups with employees who have chosen to leave your firm. Request feedback on elements of the job and the company as a whole that were dissatisfying. Utilize employees who have chosen to leave to ultimately improve your benefit packages and operations. Retention is difficult to improve when managers are unaware of potential pitfalls within the company. An exit interview gives you the information you need to retain qualified staff and offer programs and perks that are of value to your employees.
Customize Benefits
A standard health plan or 401(k) is not always beneficial for all employees. Offer customized plans so that your staff can choose benefits that can be utilized. Give your employees choices when enrolling in employer-sponsored programs. Ask for input when contracting with outside vendors who provide insurance and short-term or long-term disability support. Know what your employees need to improve employee retention and enhance overall job satisfaction.
Boost Communication Efforts
Managers who effectively communicate benefits to employees have the ability to positively impact employee retention. Schedule workshops and town hall meetings to review changes or additions to packages. Communicate via email or company memos when benefit renewal periods are approaching. Seek input regularly from employees to customize benefits. Strong communication about benefits is also necessary during the hiring process so that you attract qualified candidates.
Take a cue from your existing employees when developing employee retention strategies. Your long-term employees can offer inside information about why they recommend the company and detail benefits that have led them to stay loyal to your company. Benefits are important to employees and should be a major focus for employers.
Photo courtesy of David Castillo Dominici at FreeDigitalPhotos.net
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