In the US, the number of adults in the workforce is 2% less than pre pandemic levels (As of November 2021). In large metropolitan areas, this can mean tens of thousands fewer people in the workforce.
Particularly in regions where there are more jobs than job seekers and where finding quality candidates is difficult, retaining your current staff is vital. Down time in production or productivity, the candidate search process, onboarding, and training will add up to lost revenue. Here are a few effective ways you can make sure your employees feel valued and stick around.
Pay attention to your employees, acknowledge when they do a great job and tell them about it. You can do this by recognizing them with employee of the month programs, writing short hand written note, or even a simple “way-to-go.” Small tokens of gratitude show your team that their hard work is seen and appreciated.
“Please” and “thank you” goes a long way. Simple phrases can do a lot to show your employees that you respect them and sets a tone of kindness on your team.
Employee appreciation has to be a part of your budget. Food is always a crowd pleaser. As much as your budget allows, plan for monthly, quarterly, or seasonal “just because” meals. Order in lunch from a popular restaurant or take lunch orders for your local sub shop.
Investing in competitive wages can be one of the most important factors to keeping your best team members. Consider how your compensation packages play into employee retention. Plan for fair, scheduled pay increases that reflect the growth and loyalty that an employee gives to your company. No amount of company culture can equate to financial security for an employee.
Employee appreciation shouldn’t be reserved for special occasions, make it a part of your daily operations. Acknowledge when they’ve done well, show grace and be constructive when things could be better. An employee that feels cared for will care for your company and its goals.
Looking to hire? Read about our approach, check out our proven record of connecting qualified candidates with quality jobs ─ and keeping them there.