How to Attract and Retain the Best Employees in the Market?
There really is no such thing as a perfect company. Even in top rated companies, there are still employees who continue to complain about the system in the company. For those businesses that are deemed as top companies, what is it that they’re doing that makes them on top of the pack? What makes their operations so good that their employee turnover is very low?
There are several factors that affect employee retention and it would be impossible to say that all companies share the same issues. Business magazines and business-related blog sites continue to collect the most common of these factors.
Flexibility is always one of the factors that potential employees are looking for. Whenever it is that one is seeking for employment, one of the things that are being asked for is how flexible the work schedule is. It is always advantageous if the business offers flexibility in the working hours. In this fast-paced generation, nobody would like to stick to working in a job that strictly adheres to an eight to four schedule. So if you are a business owner, find time to make the work hours more considerate.
A company that values the health of their employees is always a good company. This would mean that company executives find the means to give their workers access to better health care services. Employees are likely to stay longer with their employer when they are given good health insurance coverages for their selves and their dependents. Top employers offer the same set of benefits to all their employees, even to those part-time workers in the company.
Nobody wants to retire someday and still feel the need to work even at a very old age because of financial needs. When retirement age comes, it is comforting to know that you have pension to support your lifestyle. The Safe Harbor 401 K plan is a very popular pension plan that is being used across the United States. This is especially a very popular retirement plan for most small businesses today. By giving employees access to this pension plan, company executives are not only preparing them for their retirement age, they are also giving them the opportunity to let their money work for them.
Statistically speaking, hiring an employee is more costly than working on retaining them. Statistically speaking, it would be seven times more expensive to hire new workers than to retain the good ones. That being said, company executives always make it a point to keep their employees happy and satisfied. The list above are three of the most common things that would make an employee stay with the company.