Employee retention refers to how long employees stay with your company. Good employee retention means you have little turnover, and employees generally tend to stick around. This is a good thing for a small business, because it means less training time, and hopefully it means that they are sticking around because you are doing something right!
There is no sure-fire way to increase employee retention, but there are some suggestions, backed by studies, that might help increase employee retention. What it really comes down to is making your employees’ jobs – and job climate – desirable.
You know your employees are important, and you don’t want to lose them… but how to go about retaining your employees? Check out some suggestions for creative ways to retain employees.
This is a great way to show your employees how much you appreciate and value their work. Studies have shown that benefits like health, dental, and life insurance matter to many employees more than pay raises.
When someone comes to work for you, she wants to know that you are offering her what she’s worth. If you want skilled employees who put quality work in for your small business, then you should seriously consider a group health insurance plan and maybe some ancillary benefits like life, dental, and vision.
Keep in mind, under current law, small business owners with fewer than 50 employers are not required to offer health insurance. But if employee retention is a high priority for you, it might be a good idea to check out your health insurance options on a well-established insurance broker website like eHealth. Watch the video below to understand more about your obligations as a small business owner.
There are plenty of creative ways you can foster a positive work environment in order to improve employee retention. You can ask around your small business to see some changes or additions that your employees would like to see. Some potential changes for a positive environment could be:
There are other creative ways you might promote employee retention in your small business. If your small business operates out of an office, some simple environmental changes could be a quick fix for improving employee retention. Below are possible ideas for improving employee retention through office-space changes:
Some of these office practices could cost you little to no money, and if your employees are interested in trying out some of these creative office-space boosters, then it might be worth your time! Keep in mind that these techniques don’t guarantee improved employee retention.
When it really comes down to it, talking to your employees about what they want is a great way to increase employee retention. Communicating with your small business employees and doing what is within your power to meet their needs could seriously help with retaining employees.
If you want to go for a group health insurance plan, it may not be as difficult or expensive as you thought. eHealth has plenty of options for affordable small business health insurance, and we boast an enrollment process that can be done completely online. Visit eHealth.com to see how you can find a plan that meets your needs and your employees’ needs.