As a business owner, at any given moment you’re juggling tons of things on your plate—making payroll, managing the workplace, keeping supplies properly stocked, troubleshooting tech issues. Worrying about whether the staff you’ve hired is happy and fulfilled needn’t not be another thing on that ever-growing list. Employee retention can be tricky but in thoughtfully thinking of valuable perks to put in place, you can put both your mind at ease as well as ensure employees feel needed and valued. After all, employee satisfaction is a win-win for everyone.
Read on for some ways to get a hold on employee retention at your business and ensure in both small and large ways that new and old employees stick around for the long haul.
Our health is truly our wealth and quality health insurance will go a long way with your employees. Having to manage a persistent sinus infection or a larger health crisis can be stressful, especially without health insurance. In providing health insurance for employees of your business, you demonstrate a level of care for their well-being. Beyond that, many gyms offer deals to businesses who want to incentivize employees to join. Employees that are in good health are those who can contribute effectively to the bottom line of your business.
Yet another way to demonstrate care for your employees is fostering a family-like environment. Keep a running tab of employees birthdays in an office-wide calendar for both you, as the business owner, and for fellow colleagues to see. If an employee has recently gotten married, had a new child, purchased a new home, had a death in the family or any other victory/setback, make note of it. Give employees cards or gift cards to both celebrate and comfort them in their time of need. These thoughtful notions speak volumes.
Vacation and paid time off
Everyone needs a little time off sometimes. In offering vacation and paid time off for your employees, you contribute to work satisfaction long-term and give space for your staff to take breaks avoiding burnout. What’s more, having adequate vacation and paid time off is a great way to attract top notch talent to your business during hiring stages. Employees need to feel encouraged to both work and rest to be the best staff member they can be.
Another great way to contribute to employee retention are performance bonuses. What better way to show those you’ve hired and remind them they are an integral part in rewarding them with extra money? Plan in advance when you’ll offer performance reviews and bonuses based on the results of those.
Paid sick days
To the addendum of health is your wealth, and paid sick days fall into the same category. Employees need to feel that when they are unwell, it is okay for them to rest and take time off work to get better. And to be paid for that time when they are unwell. Make sure to have paid sick days as an option for employees to opt into.
401(k), retirement plan and pension
As much as you’d love to have your employees with you forever, there will come a time when they will move on and retire. When that time comes, you’ll want to, as a business owner, have protections for them in place to cushion them for their hard work for your business. Have 401(k) or other retirement plans or pensions available to be chosen from.
An additional method for improving employee retention is to have flexible schedules as an option for all new hires and for employees period. Talk to both your new hires and employees that have been with your small business for a while to ask if their schedule works for them. Be open to allowing employees to come in later and leave later or come in early and leave early. Remember: a happy employee is a productive one and one that will stay with your company.
Your employees will spend the vast majority of their waking life at your small business so why not have some perks in office for them to enjoy? Think of things that would be appreciated such as a free lunch every now and then, employee appreciation barbecues in the warm weather months or even office parties for the holidays. A robust break room with free snacks as well as coffee and water are always good ideas, too.
Employee development programs
Want to motivate your employees to continue to invest in themselves and ensure employee retention at the same time? Employee development programs are the route to go in. Offer a robust list of activities for employees of your small business: tech skills, interpersonal communication, leadership. Encourage employees to take part in these programs with frequent reminders and updating offerings throughout the year.
Sam Casteris is a small business owner and freelance writer operating out of Phoenix, AZ. You can find more of her work on Contently.