Employee retention is a huge topic when it comes to the hourly workforce – With the rise of millennials in the workplace, many are willing to forego higher pay to work at a socially responsible organization with a positive environment and culture.
So how do you create an exciting culture and environment in order to retain and engage your employees? First off, make sure to recognize and acknowledge them -- always provide continuous positive feedback sprinkled with some constructive criticism to help them feel like they are being invested in.
Millennials and Gen-Zers are eager to expand their skill set and knowledge, so providing feedback along with the ability for them to grow is a top element in motivating and keeping your employees. Personal and professional growth are two huge aspects in employee retention. When you provide personal growth, your employees are much more likely to be productive. With professional growth, it assures them that you are investing in them as an employee.
Another great way to retain and engage your employees is to give them a sense of purpose and responsibility -- help them understand how they specifically fit within your organization and why their position is so vital to your organization. If an employee feels like they are disposable and replaceable, chances are that they will leave and go somewhere else.
So why is employee retention and engagement such a hot topic? Well to start on average it costs $3,210 to replace a $10/hour employee and 70% of the entire US workforce is unengaged and looking to move to a different job! Make sure your entire workforce is staying engaged and digitize your process with talentReef’s Employee Engagement platform today.
Engaged Employees = Great Customer Experience = Increased revenue and brand equity
Authored by Lindsay O'Neal, Marketing Coordinator