Are you constantly wondering how to retain your employees? According to the American Psychological Association, employee turnover is one of the biggest stressors for employers. It accounts for about one-third of all new jobs and can cost an organization as much as 20% of first-year wages on average. No matter how hard you try, people quit their job in a company every day. There are numerous factors that increase employee turnover rate: low salary or benefits, lack of recognition and rewards, uninteresting work and a bad work environment. Fortunately, there are various things you can do to improve retention among your staff members and keep them happy with their job. This blog will share 10 recognitions for employees to get rid of employee turnover.
10 Recognitions For Employees To Get Rid of Employee Turnover
Having high employee turnover is a sure sign that something is not working. Sadly, it’s something many businesses have to deal with. According to the Society for Human Resource Management, the average employee turnover rate in the U.S. is above 20%. That’s why employee recognition programs are becoming an essential HR practice for companies that want to reduce turnover and make their employees happy at work again. 10 recognitions for employees to get rid of employee turnover:
1. HR Practices To Help Reduce Employee Turnover
If your employees feel undervalued, overworked, and unappreciated, there’s a good chance they’re going to start looking for another job. A compensation survey will help reduce employee turnover while also improving your hiring process. Conducting a compensation survey will help ensure your salary offerings are in line with the market.
When you can’t offer competitive salaries, it’s easy for your employees to look elsewhere. Replacing employees costs time and money — not to mention it’s demoralizing for those who remain. A consistent hiring process will help you avoid common mistakes that can lead to employee turnover.
2. Show You Care
It’s easy to forget that your employees are people — that they have feelings and desires outside of work. But a good leader gives priority to creating an environment where employees feel comfortable showing their personalities.
You may have an office holiday party, a birthday recognition program, or even a weekly or monthly coffee break where everyone is encouraged to be themselves. These small gestures will show your employees that you care about them outside of the office as well. One great example is the gift of experience: If you know an employee is passionate about something, consider gifting them a paid experience related to their interest.
Whether it’s a cooking class, a visit to a museum, or a vacation to a place they’ve always wanted to go, it’s a great way to show you care outside of the office. You can also show you care by having open and honest communication with your employees. Men often fall into the trap of trying to be the “strong and silent type.” But by being open and honest, you’ll show your employees that you care about them as people.
3. Make Work Meaningful
Employees want to feel like their work matters. If they don’t feel this way, they are much more likely to leave. This doesn’t mean you have to create a non-profit or that you have to focus on just one cause. It can be as simple as making sure your employees understand how their work impacts the greater company.
Knowing how their work makes a difference in the company’s bottom line will help make it meaningful for them. You can also use team-building activities to make work more meaningful. These may include anything from scavenger hunts to team-building exercises or even having a kickoff meeting where you show your employees how their work fits into the big picture.
4. Reinstate The Basics
Remember the basics. Everyone has their quirks, but sometimes companies forget the basics such as having a clean, comfortable, and friendly space for their employees. This can affect employee satisfaction and even retention. Make sure your employees have comfortable chairs, plenty of natural light, and a clean and friendly environment. This not only makes them happier employees but may even help reduce healthcare costs.
Finally, make sure you are upholding all of your policies and procedures in a consistent manner. This includes everything from how you handle employee performance and disciplinary procedures to how you handle overtime and sick days. If you allow some employees to bend the rules while others follow the rules, you are only going to create resentment among your employees.
5. Pay Employees Well
No, this does not mean you must double their salaries overnight. But it does mean you should pay them fair wages for their positions. If you find that employees are constantly worried about making ends meet, they are going to either be stressed out or look for a higher-paying job elsewhere.
You don’t have to pay your employees top dollar, but you do have to pay them a fair, livable wage. Many companies also offer benefits to their employees to show them they are valued. Some employers will offer a health insurance plan, paid time off, parental leave, or even tuition reimbursement as a way to show their employees they are valued, which are great recognitions for employees.
6. Celebrate Improvement
This might seem silly, but some companies forget that it’s important to celebrate their employees’ improvement. This doesn’t mean you have to constantly shower praise or recognize everything your employees do. But it does mean that you should recognize the improvement your employees have made.
This can be as simple as sending an email praising an employee for a job well done or having your manager recognize an employee for a job well done during a department meeting. It can also be as simple as congratulating a team member for trying something new and succeeding or even recognizing an employee for showing up to work on time for two weeks in a row. Improving employee engagement and happiness can be as simple as you celebrating the small things they do right.
7. Empower Your Employee
Empower your employees to take ownership of their jobs. This means giving them decision-making power when appropriate. This can range from letting employees decide how to run their own workday to letting them make small decisions that don’t have huge impacts on the company (such as ordering office supplies).
Empowering your employees doesn’t just help reduce turnover, it also helps them feel more engaged and committed to their jobs. It also shows them that you trust them and that you value their ideas and opinions.
8. Do not Micromanage
Micromanaging is one of the biggest reasons employees leave their jobs. If you are constantly looking over your employees’ shoulders, it’s easy for them to become resentful and start looking for another job. This is especially true for new managers who may be unsure of how to manage their employees. This is why many companies have a coaching or mentoring program for new managers.
But even managers who have been in their positions for years can benefit from coaching and mentoring. Coaching and mentoring programs are designed to help managers step away from micromanaging tendencies. They also provide managers with tools they can use to better lead their teams.
9. Set the Tone for Collaboration
If you have an open, collaborative company culture, it’s likely your employees will feel engaged and happy with their jobs. However, many companies have a hierarchical culture where employees feel like they don’t have a say in their jobs. Make sure you are setting the tone for collaborative company culture. Start by creating an open workspace where employees can easily talk to each other and collaborate.
Then, make sure you are providing ample training opportunities for your employees. Let them know that you want them to engage in continuous learning and that you are there to support them as they do so. Finally, make sure you recognize employees for collaborating. This can include everything from hosting an employee-driven meeting to holding an internal competition where teams pitch their company ideas.
10. Take Care of Office Politics
Office politics causes inefficient employees to gain favor with the company and receive a reward, promotion, or permission for a certain course of action. Serious employee dissatisfaction results from it. Many times, terrible office politics cause loyal, competent, and honest workers to quit the company.
Office politics should be managed in a positive work environment to improve employee satisfaction. To stop office politics, organizations must have systems for identifying and understanding political behavior as well as a strong network of allies.
Conclusion: Recognitions for Employees
Employees recognitions programs are essential for companies that want to reduce employee turnover. They are also a great way to improve work engagement, engagement, and employee happiness. Employee recognitions programs can be as simple as giving out gift cards to a more complex system. They can be done on a company-wide basis or be more specific to certain departments or employees. The key is to find a way to recognize your employees that is meaningful to them.