Job hopping mechanism in the corporate world is the latest norm nowadays, especially when we’re talking about the millennials. In the greed of reaching the top of their career at a young age, millennials prefer jumping from one job to another. Not only millennials but the senior generation also serve as an active part of the new norm.
While job hopping is praised by a few, it is heavily criticized by many. 91% of millennials are expected to continue a job for less than few years in a specific company, which means over the entire span of their careers, they would have to go through 15-25 jobs.
Now that the companies are hiring the so-called ‘millennial’ generation, here are a few highly effective employee retention tips, which will certainly entice the staff to continue in a company for a longer period of time.
Career development and mentorship are probably two of the best employee retention incentives for talented employees. Employees prefer a boss who is willing to mentor them. Employees are most likely to end up finding a job somewhere else with higher paychecks, so offer them better benefits like career advancements opportunities and strong mentorship.
Set Higher Standards
Raise the standards of your company high and motivate your employees to hold them firmly. Your employees will respect transparency in your workplace culture. Keep challenging your employees with various tasks, this will help them stay refreshed, and the good ones are likely to jump on the board with you. The best employees in your company will surely appreciate the challenging nature and will be happy to work with you for a longer duration of time.
Keep a Tab on Work-Life Balance
This is one of the excellent employee retention strategies. As an employer, you certainly want your employees to concentrate on work, but you must understand that they also have a life outside the premises of office. If you keep constantly engaging your employees during their family time or so, they will be forced to start looking for a job change. Working for longer hours isn’t beneficial for you, your business, and your employees.
Focus on the result. It isn’t necessary that your employees may use the same approach towards a task in a way you would. Give them their own space and feel free to offer a feedback.
Praise Your Employees
No, this certainly doesn’t mean that you have to walk around complimenting your employees all the time, but if they perform a good job, make sure to let them know. Praise their good work and demonstrate how much you appreciate their efforts. Formal encouragement has the ability to go a long way.
Listen To Your Employees
Communicate well with your employees. Hear them out and consider their feedback in a positive manner. Nothing values more to employees than having a boss who actually listens and appreciates their feedbacks.
Use these employee retention tips in your management model and keep your employees away from looking for a job change. This way, your resources won’t go without any purpose and you are likely to receive stronger results, which will be beneficial for your company and your employees as well.