Employee Retention Strategies in 2022

· 20 Oct 2022

In today’s environment, employee retention is a hot-topic as people begin to quit their jobs in realisation that work-life balance matters. People leaving the workforce are leaving for many reasons such as inadequate salary, a benefits package that isn’t competitive, feeling overworked and unsupported and a need for better work-life balance.

In order to retain employees, there are many strategies employers can take to make sure the workplace is optimal and that the workload is manageable. Here is a short list of employee retention strategies that can be implemented by employers to retain the top talent they have hired.

Onboarding and Orientation

A new hire comes into the company from square one, so it is extremely important to set them up for success. Teach the employee about the company’s day-to-day work life, the job scope as well as the company’s values, branding and culture. The training from day 1 sets the tone of the employee’s overall experience at the company.

Employee Compensation

Employers need to consistently evaluate and adjust salaries regularly, as well as taking into account health care benefits and retirement plans. Showing your employees you care about them in the present and in the future can help raise the chances they stay with the company

Feedback on Performance

Employees want to invest in their learning and growth, so by providing continuous feedback as their employer, they can leverage new skills and grow professionally.

Work-Life Balance

Having a balance between work and life is crucial in maintaining employees and making sure they are healthy and happy. It is proven that too much work is linked to physical and mental stress, and can pose negative benefits to an individual. An employer who understands the importance of work-life balance and who models that themselves is crucial in maintaining a successful and thriving workplace of employees.

Flexible Work Arrangements

The workplace is changing, and now more than ever before, people are seeking flexibility in their schedules. Though many offices have opened, some still prefer to work remotely. Not having this flexible option can be a huge turn away to many employees who embody top talent.

Emphasise Teamwork in a Supportive Environment

Employees come to work, but they also come to gain new relationships and connections. Encourage all employees to gain the confidence to contribute and network with their colleagues. Foster a space that accommodates the employee’s working style and gives them the space to make mistakes and learn through them. A supportive environment with a great team is also key to employee retention.