How to Increase Employee Retention

How to Increase Your Employee Retention Rate?

Employee retention refers to the ability of an organization to retain its employees.

Employees are your businesses’ most valuable asset. Recruiting the right people, setting up proper training program, keeping an open line of communication and caring their growth opportunities are just a few ways to keep your employees happy and increase employee retention rate.

In a highly competitive business world, top talent is in high demand. Here are some helpful tips that will help you improve your employee retention for your business.

  1. Hire the right employees.
  2. Offer high quality training program as they will see it as investment for their career.
  3. Avoid micromanaging and provide guidance for your employees.
  4. Provide comfortable work environment and culture that attract more talented employees.
  5. Check in regularly to show your concern for their future.
  6. Examine their performance regularly and pay them right to keep them motivated.
  7. Be generous with praise and recognition.

Employees who leave abruptly definitely can hurt your business. Check those tips and apply to your company to help you reduce high employee turnover.

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About Dale Williams

Dale Q. Williams, MBA, is a well-respected financial executive whose experience spans from insurance to investment banking. Dale has first hand underwriting experience through working for one of the largest U.S. based insurance carriers, and advisory experience from working for several bulge-bracket and middle-market investment banks. Dale also received his MBA from University of Chicago Booth School of Business, with concentrations in finance and accounting.