Nearly 52% of new hires who have been at their job for three months or less are looking to leave. The figure jumps to nearly 60% for employees in the 3-6 month phase. These numbers underscore the importance of creating an employee-focused culture. Here are five ways to maximize employee engagement and reduce turnover!
Tip #1 – Create Loyalty Incentives
It’s no longer uncommon for employees to job-hop when they feel an opportunity is no longer serving them. To prevent your team members from feeling unfulfilled in their roles, consider offering loyalty incentives to keep them engaged.
Loyalty incentives are perks that employees can earn for staying and growing with the company. In fact, a study from Gallup found that engaged employees can drive a 21% increase in profitability and a 10% bump in customer ratings. Needless to say, prioritizing employee happiness is well worth the investment.
Here are a few examples of loyalty incentives you can implement today:
- Subscriptions for music
- Memberships to the gym
- More paid time off
- Catered lunches
- Upgraded tools
Tip #2 – Set Goals For Growth
An employee who isn’t aware of the internal path for advancement is an employee who isn’t likely to stay on board for the long haul. It’s critical to set short and long-term goals as soon as employees join the team to reassure them of a promising future with your company.
Remember, fostering personal growth can be just as significant as promoting professional growth. Give employees plenty of opportunities to earn raises, take on more responsibilities, try out new roles, and find time to focus on their side hustles.
Here are some ways you can prioritize employee growth within your organization:
- Provide access to online training resources
- Offer monetary incentives for continuing education
- Offer flexible work hours
- Encourage shadowing and collaboration
- Hire influential speakers to inspire your team
Tip #3 – Focus On Flexibility
If the last couple of years has taught us anything, it’s that many job duties can be performed anywhere, and anytime. And the employers behind this movement are the ones who stand to benefit from a happier, healthier team in the long run.
Interestingly enough, a study by the International Workplace Group found that 80% of workers would turn down a job that did not offer a flexible work schedule for one that did. The same study shared that 76% of workers said they’d consider staying at their current employer if they could work flexible hours.
Flexibility no longer just refers to the hours worked but also the location where employees are free to work. Trusting your employees to complete their work autonomously is half the battle– the other half is allowing them to work in a location that suits their needs.
Tip #4 – Provide Health and Wellness Support
In recent years, mental health has become a prevalent topic of conversation within the United States (US) workforce, and employees are making their needs for support known. According to Total Brain, a mental health and wellness platform for employees, while the vast majority of employees want a corporate culture that embraces open mental health dialogue, 50% still feel like employers don’t provide enough mental health support.
Here are some ways you can be on the right side of the mental health conversation:
- Host biweekly check-ins with employees
- Offer flexible paid time off and workplace freedom
- Include a healthcare plan that includes mental health care
- Offer a gym membership or meditation subscription
Tip #5 – Facilitate Team Bonding
Remote and hybrid work models pose an inherent challenge for employers looking to maintain and strengthen the team bond. It can be difficult to feel like your efforts are effective when everyone is no longer in the same room. However, that doesn’t mean that there aren’t team bonding initiatives you can implement to ensure all of your employees feel seen and heard.
Team bonding allows your organization to get to know each other better, resulting in better performance, more creativity, stronger communication, employee appreciation, and a decrease in turnover rates.
Here are some team bonding activities you can start initiating:
- Host annual company retreats
- Send your employees to conferences
- Set up a weekly trivia game on your company’s communication platform
- Plan virtual happy hours
- Schedule a weekly meditation call
Creating an employee focused culture is about facilitating a positive employee experience from orientation to onboarding and beyond. However, there are signs you can look for to determine if an employee might be feeling overwhelmed and preparing for a departure. Be sure to review How To Prevent Employee Burnout for a sensible approach to proactively mitigating employee turnover.