Employees are the lifeline of every company. We need them for every business to succeed. As business owners, it is in our best interest to keep them happy and satisfied with their jobs. But that sounds easier said than done.
A survey found that 49% of employees quit their jobs because of a bad boss. Younger professionals are 54% more likely to quit their jobs because of the same reason. Employees leaving can be devastating for any company. Hiring a new employee can cost companies more than retaining an old one. It’s not only their salaries you should be thinking about.
New employees need to be trained and nurtured before functioning as a regular employee in your company. It’s been found that new employees require 42 days and the cost of about $4,000 before they can fill the position of a previous employee. That’s a lot of time and money spent just trying to fill a vacant spot.
Now that you know the cons of losing an employee in your company, it’s time to learn how to retain and keep them working for you for years to come.
Treat Them Like Your Equal
Sometimes we tend to forget that it’s the small things that count when it comes to keeping people. In some situations, we start to think that employees are our servers, asking them to make coffee for us or have water delivered to the office. All of these things can be detrimental to your relationship with your employees. They don’t like feeling like you are above them and that they are under you. For your employees to stay in your company, you must treat them as your equal.
This means that you should start doing personal things for yourself and not rely on your employees to do it for you. They have jobs to do, and remember they’re not privileged because they have you. You’re privileged because you have them. However, this doesn’t mean that you should treat your employees as if they were your colleagues. Boundaries must still be kept. So keep your professional boundaries intact.
By the end of the day, you don’t want to be ordering your employees to do mundane things for you. You want to give them purpose when they do their work. You should also make them feel that they are not there to serve you, but rather, they are there to work for the company.
Keep Them Interested
Some of the jobs that your employees do can be mundane, especially when they do them on a day-to-day basis. These tasks can take their will and force away. This can make an employee bored or underappreciated when working for a company.
This is one of the prime reasons why employees leave. They feel like their jobs are meaningless. They feel like they are expendable, so they find somewhere else that would keep them interested. Another company that makes them feel stimulated at work, doing a job worth doing. One of your main priorities as a business owner is to keep your employees interested. This means delegating mundane jobs to automatons and more of the jobs that require critical-thinking to your employees. By investing in services that automatically do the everyday things in your work, you can give your employees more meaningful jobs.
Another thing you can do is to shift tasks and jobs every week or every month. Doing the same thing repeatedly every month during every year can be tedious, especially when a particular employee has already mastered the specific job. By shifting tasks in a particular department every month or year, you can make sure that they are never bored and fully interested in the things they do for your company.
Be a Part of Their Growth
Sometimes employees leave their jobs not because of a bad boss but because they don’t feel like they are growing within the company. Growth is an essential aspect of living, and being stagnant can push an employee to leave your company.
Being a part of your employees’ growth has a lot of benefits. First of which is that they’ll be loyal to you. The second is that they’ll appreciate you as their boss. However, doing this can be quite tricky, especially for small businesses with a dedicated human resource department. One simple way you can do this is by interacting with them once a week, asking them how they are doing in your company and what their goals are in your company. By doing this, you can know more about your employees and help them reach their goals in your company one by one.
Keeping your employees should be your main priority. They are the ones keeping your company alive. Hiring new ones can leave a dent in your company that could never be fixed. So work hard to keep them happy and satisfied so your company can grow for the better.