- January 10, 2020
- Posted by: Asheesh Sinha
- Category: Business plans
Whenever an employee gives notice, you know that you’re going to lose money. It’s not because you aren’t a good employer, but finding and keeping the right talent is tough. Long gone are the days where you ran a newspaper ad, and you were bombarded with so many suitable applicants that all you needed to do was pick one. Now employees are just as fickle as some employers, which means if you can’t create a place where they feel valued, you’ll find yourself in the same position time and time again. Below are some of the best ways you can keep morale high and decrease employee turnover.
Compete With Benefits
When it comes to making employees happy, let alone hiring ones worth keeping, you need to provide benefits. While most startup companies aren’t equipped to offer completely free health care coverage or endless weeks of paid vacation, there are things you can do to attract the right talent. Since everyone is different, you can ask applicants what kind of benefits matter the most to them. Some individuals may need help with the cost of health insurance while others want paid vacation or the ability to work remotely. Personalizing benefits goes a long way when trying to minimize employee turnover.
A More Rigorous Hiring Process
Locating the right candidate can only be compared to finding a needle in a haystack. You keep looking and looking, and just when you think you’ve found the right one, you pull out another piece of hay. Pre-employment tests can measure critical factors that have the power to predict a potential employee’s success. Hiring the right person starts with a well-structured hiring process. However, that doesn’t mean that you should make the process so tedious that you run the risk of turning off candidates. The best way is by pre-screening prior to inviting candidates in for an interview. This can include a pre-screening phone call, a small get-to-know-you email, or even by asking applicants to send in an introductory video.
Be the Example
In addition to screening applicants and offering employees the type of benefits they want, you need to create a positive work environment. Weeks of paid vacation or free health care benefits won’t mean anything if your employees dread coming to work. While you do need to implement structure, the workplace needs to be somewhere you would want to work at. Whether you create a space where employees can play Foosball on their break or offer catered lunches, make your work environment somewhere worth being.
As an employer, you can’t always keep employees from leaving, but you can make their departure a little more thought-provoking. Find ways to make your place of business somewhere employees want to stay. Follow these tips and not only will your employees stick around, but you’ll develop a better relationship with them.