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 programs, keeping open lines of communication and providing growth opportunities are just a few ways to keep your employees happy and increase your 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 the employee retention for your business.

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

Employees who leave abruptly can certainly hurt your business. Incorporate these tips into your company’s operating model to help you reduce employee turnover.

If you need business insurance quotes, remember to compare multiple quotes from top rated insurance carriers using before you make your final decisions.

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.