Stay Ahead of Your Game: Timpl Blog

Employee Retention: How to Invest

Written by Caitlin | Oct 12, 2021 3:30:00 PM

Candidates are searching for increased benefits, higher wages, and hybrid and remote work options. 

4 Retention Tips 

Competitive Pay and Benefits

First and foremost, your employees want to be paid well and given benefits. After the COVID-19 pandemic, this has become even more important for many candidates. Do some research and find out what competitive wages are in your industry. You should also look into what other companies are offering in terms of benefits.

You may be surprised to find out that many candidates are looking for more than the traditional week’s paid vacation and healthcare. Many employees want their employer to invest in them in other ways as well. They are looking for companies that will cover things like family leave, mental health days, financial counseling, and mental health support services.

Offer Upskilling and Reskilling

Employees want to know their employer will invest time and money into their career. Offer regular training, upskilling, and reskilling opportunities. This will show your staff that you are interested in investing in their careers. It will also give them the chance to expand their skills. Not to mention, it will also add some talent to your current team.

Employee Appreciation

Oftentimes, employees leave a job because they feel underappreciated. One of the best ways you can retain your employees is by showing them what a difference they make in your organization. Publicly recognize a job well done. If you are working remotely, send out a mass email or communicate through the public chat channel for your company. Call out the specific individuals who helped your company meet a goal or reach a milestone.

If you want to go a step further, you might consider providing employees with small perks to show your appreciation as well. For example, if your team met a quarterly goal, you might celebrate by holding an employee luncheon at the end of the quarter. You can also offer things like a day off or a casual attire day in the office.

Be More Flexible

Employers are finding it more necessary to embrace remote work culture and be more flexible with their staff. Many employees have said that if they found a job that was more flexible or allowed remote work they would leave their current position. Allowing your employees more flexibility in how and when they work will also increase the productivity and overall happiness of your staff. This is because they will feel less stress between their personal and professional lives. Working remotely or having flexible work schedules has helped many people establish a better work-life balance.

More retention strategies, here.

Connect with Timpl

Working with a staffing agency can help you find and retain employees by finding the best fit for the job at hand. Learn more about how the professionals at Timpl can assist you with your staffing needs.