Employee retention and your organization’s turnover rate are extremely important considerations for cost-effective management of your organization. Corporate team building strategies and other team building ideas are important for employee engagement, so if you are concerned about your organization’s turnover rate, read on for some tips to keep your best employees engaged and invested.
Team building ideas vary, and there are many well-written articles with ideas for employee retention. This article references the following articles: Stay Interviews: Hold On To Your Best Employees for Less , One Simple Way to Reduce Employee Turnover , How to Increase Employee Retention, and 5 Ways to Keep Employees From Becoming Competitor.
Employee retention is an important cost strategy for your organization, so keeping your employees engaged and present is not only beneficial for employees, but it is beneficial for your organization.
Conduct stay interviews. Many organizations are already on board with exit interviews, but according to Stay Interviews: Hold On To Your Best Employees for Less, stay interviews are even more important. Rather than finding out why employees are leaving when it is too late for you to do anything, conduct stay interviews to increase employee engagement with your current employees. Create a list of questions to learn what aspects of the job are most important to your employees, as well as the items that need to be revamped or updated to keep your employees engaged and happy to come to work.
Volunteer and donate. According to One Simple Way to Reduce Employee Turnover, employees are more likely to stay with organizations that give back to communities and create a culture of good. A recent study has found that employees are better satisfied with their lives and their jobs when they give back, and organizations that are authentic with their intentions reap the added benefit of lower turnover rates.
Invest in employee morale. Your team members’ morale is one of the most important determining factors in employee retention, so take the time to invest in it from the bottom up. How to Increase Employee Retention offers several tips to keep morale high and your employees engaged. And for leaders looking for tools, systems and strategies to achieve this there is a workshop in September that can help you achieve this.
Offer financial stakes and more responsibility. According to 5 Ways to Keep Employees From Becoming Competitors, many start-ups are born within established companies, which means entrepreneurial employees may not be as invested in your organization as you first thought. To keep these employees invested and on your payroll, offer added perks such as a financial stake in their projects or the organization, or more responsibility and opportunities to work on projects that they are most passionate about. These employees are less likely to up and quit if they feel invested in some way with your organization.
Provide team building events. You cannot mention team building ideas without mentioning team building events and other opportunities for your employees. Organizations benefit from providing opportunities for employee growth, and special events such as the 6 Principles That Build High Performance Teams offer benefits for both employer and employee. Workshops are a great way to share ideas and new procedures, identify talent and promote growth within the organization.
No matter the size of your organization, employee retention is an important component for your organization’s success. Consider the above team-building ideas to increase employee retention and lower your organization’s turnover rate.
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