03 Aug Stuck In a Turnover Rut? Try These Innovative Employee Retention Tools
High turnover rates can be a nightmare for HR, and the impact resonates across other areas of an organization as well. To combat the complications resulting from a high rate of departing employees, managers and HR professionals are seeking out innovative employee retention tools.
If your retention rates could use a boost, consider implementing one or more of the creative employee retention solutions below:
Create a Mentorship Program to Increase Employee Retention
Setting up mentorship programs could deliver multiple benefits. Not only does mentorship foster development for employees, it also increases the quality and volume of the work your associates produce. According to Jobs N Hire, you can strategically match mentors with mentees to create a viable retention tool.
Offer Small Perks
Offering small perks like free bagels on Fridays may not be the make-or-break factor that encourages employees to stay, but little extras certainly add up and make associates feel valued.
- Consider Sabbatical Leave
Job burnout can drive employees away, but The HR Digest suggests avoiding it altogether by offering paid leave, or sabbatical. Employees will return refreshed and ready to work, and the retention boosting strategy will benefit your company in the long run, too.
- Be Flexible
Flexibility is becoming increasingly important to employees. To help ease the stress of everyday demands, determine whether you can offer flexible options such as working from home.
- Hold Stay Interviews
The Wall Street Journal recommends holding these informal one-on-one meetings between frontline managers and their long-tenured staff to find out what they’d change and why they’d consider leaving. Accessing these insights will help you create a more comfortable environment where employees will want to stay and thrive.
The bottom line is this: in order for your employees to continue to want to stay, they must feel appreciated. Showing them – instead of simply telling them – that they’re valued is the most effective way to accomplish this, and with the strategies listed above, you can demonstrate just how important they are to the company.
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. To learn more about our Stay Interview Software, STAYview, click the button below!