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Proven Strategies to Retain Employees in 2023

Proven Strategies to Retain Employees in 2023 SVS Group

Every manager and HR leader will love this post with proven strategies to retain employees. With so many jobs available you may have noticed that retention even with long-tenured employees is becoming difficult. Remote job offers can entice even loyal employees to transition more than ever before.

Here is how you can combat this new phenomenon and retain top talent. 

1. Ask Your Employees 

The quickest way to know what your employees are looking for is to ask before they start looking. One-on-one meetings give you a chance to ask for their feedback. Maybe they want more time at home or better benefits for their family. However, asking is only half of the equation. Once you know, be sure to take steps to implement changes in ways you can. This shows your employees you are taking their suggestions seriously. 

2. Salary Updates 

For your long-term employees, you may want to update what they are currently making. With inflation, the cost of living has increased significantly. Check with other companies who offer similar roles to make sure what you are paying employees is competitive. Schedule in bonuses where appropriate and consider building in rewards for longevity. 

3. Offer Flexibility 

You may or may not be able to offer a remote position, but you can often revamp things to make a job more flexible. This may look like offering things like 4-day, 10-hour work weeks or making a role hybrid. This could also mean providing additional PTO. Employees like to know that they can take off when needed or in case of emergencies. Remembering their life outside of work and helping them balance that through flexibility goes a long way. 

 4. Recognition and Appreciation 

It has been said before, but it bears repeating: appreciated employees stay longer and work harder. Build reward systems and recognize when your employees are doing great work. Be specific when offering praise. Do this in a way that fosters teamwork rather than competition with your employees by spreading recognition evenly. Each person brings something unique to the table. Find ways to highlight their strengths. 

5. Mentorship 

On the same token, show employees that you are invested in their careers, not just their job. Offer leadership training and a clear path to advancement. New and older employees will benefit from learning new skills and it keeps employees engaged. Find out what your employees enjoy about their job and find ways to incorporate their strengths through special projects to help them gain more experience. Consider offering to fund continuing education. 

6. Wellness Programs

Physical and mental health is a big conversation right now. Consider offering employees wellness programs like a gym membership or preferred employer discounts.  You may also want to add an Employee Assistance Line (EAP) that gives your employees access to a therapist to talk through work stress and other challenges. 

 7. Create a Great Culture 

Great leadership can be the difference between your employees looking forward to work and wanting to leave. Make sure you have the right people in the right positions. Spend time cultivating a strong, welcoming culture that will have current employees wanting to stay and new employees wanting in. 

Need More Retention Ideas? SVS Group Can Help

Maybe these proven strategies to retain employees whet your appetite and now you need a plan. Not sure where to start? SVS can help! We help companies hire right the first time and keep their employees. Check out our blog for management tips and contact our office today for all your hiring needs!