Approximately 60 percent of all employees have been with their current employers for 3 years. This is an interesting stat and it speaks to the importance of employee retention, which business owners should be mindful of. Not only will this help them build better companies, but Robert Jain can attest to the notion that it can save money in the long term. Here are some employee retention do's and don'ts to know.
If your goal is to retain employees, start by allowing them room to grow. Not only do ambitious employees want to do their jobs and make money, but they will most likely want to know how to get better. How can they continue to grow so that they can become bigger assets to their workplaces? Business owners should provide opportunities for growth whenever they present themselves. Such names in finance as Bob Jain will say the same.
Next, the importance of a work-life balance must be stressed. Life isn't always about working, after all, which is why business owners must stress to their employees that they should spend time at home or with loved ones as well. When one's life revolves around their work, they miss out on important aspects of life outside of it. Anyone that owns a business, no matter how small it may be, would be wise to keep this in mind.
One of the things to avoid, when it comes to employee retention, is a short-tempered attitude toward one's staff. While it's understandable that some days in the office will be more stressful than others, this doesn't mean that shouting, yelling, or any other such activity is appropriate. In situations like these, what matters is calm, reasonable discussion. When issues within the workplace are spoken about, it makes for a safer environment for all.
A lack of recognition for a job well done can also hurt employee retention. Employees want to know when they're doing their jobs well, just as much as when they're underperforming, which is why it's just as important to recognize the good as well as the bad. Business owners can recognize these efforts in morning meetings or through rewards that are distributed. This level of recognition goes a long in maintaining a more enjoyable work environment.
If your goal is to retain employees, start by allowing them room to grow. Not only do ambitious employees want to do their jobs and make money, but they will most likely want to know how to get better. How can they continue to grow so that they can become bigger assets to their workplaces? Business owners should provide opportunities for growth whenever they present themselves. Such names in finance as Bob Jain will say the same.
Next, the importance of a work-life balance must be stressed. Life isn't always about working, after all, which is why business owners must stress to their employees that they should spend time at home or with loved ones as well. When one's life revolves around their work, they miss out on important aspects of life outside of it. Anyone that owns a business, no matter how small it may be, would be wise to keep this in mind.
One of the things to avoid, when it comes to employee retention, is a short-tempered attitude toward one's staff. While it's understandable that some days in the office will be more stressful than others, this doesn't mean that shouting, yelling, or any other such activity is appropriate. In situations like these, what matters is calm, reasonable discussion. When issues within the workplace are spoken about, it makes for a safer environment for all.
A lack of recognition for a job well done can also hurt employee retention. Employees want to know when they're doing their jobs well, just as much as when they're underperforming, which is why it's just as important to recognize the good as well as the bad. Business owners can recognize these efforts in morning meetings or through rewards that are distributed. This level of recognition goes a long in maintaining a more enjoyable work environment.
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If you would like further information about finance, in general, please contact Bobby Jain.
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