Good employees are hard to find, and they can be a valuable asset to a company if they can be retained for long periods of time.
Replacing and training employees can be costly, because it takes considerable time for new employees to reach a high level of productivity, and staff shortage, even if only temporary, can result in missed deadlines and operational problems.
As such, it is essential for businesses to have an effective strategy for retaining good employees.
Attract and Retain Top Talent
Employees understand that some positions pay better than others.
A receptionist does not expect to be paid as much as the general manager. However, businesses have to make sure that they pay the same salaries to employees who perform the same duties and responsibilities.
Perks and Rewards
Offering perks and rewards can go a long way towards keeping employees satisfied and motivated.
One example of a Canadian company that has a good employee incentive program is Regina-based Kenlin Design Group.
Kenlin allows flexible work hours, offers fitness subsidies to help its employees stay healthy and organizes several staff events every year.
The happiest employees are those who get along with their colleagues.
A work environment with flexibility, minimal stress, attitude of acceptance and supportive culture makes employees look forward to coming to work every day.
Winnipeg-based Protegra is one of the Canadian companies that place great importance on hiring people who are a good cultural fit.
According to its founder and CEO, Wadood Ibrahim, an employee who is not a good cultural fit can be detrimental to a company even if he or she is very talented.
Employees want to be recognized and appreciated when they are doing a good job. Sparing a little time to appreciate an employee or writing a thank-you note can mean a lot to him or her.
As mentioned in an article entitled “5 Items to Attract and Retain Talented Employees at Your Happy Workplace", acknowledging and celebrating the achievements of employees can contribute significantly to workplace happiness.
Employees also want to know what their employers think of their work performance.
Other than giving annual reviews, companies should also make a point to offer positive, thoughtful and honest feedback to their employees from time to time to help them improve.
Employees will be motivated to perform better if they have opportunities to advance in their careers.
As such, it is essential for businesses to provide professional development opportunities for their employees, so that they will be able to develop the skill sets needed to assume higher positions.
The best thing that businesses can do for their employees is to provide them with a high level of job satisfaction.
Happy employees can contribute greatly to the success of a company for many years.
About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from social media marketing to growing your business.