Is employee retention one of the most significant worries you have about your business? With approximately $11 billion is lost annually due to employee turnover, this is a real concern. High retention rates can be expensive and inconvenient. These tips will help you reduce your employee turnover rates.
Recognize your employees for the good work they do
Most employees are familiar with constructive criticism but do not often receive any recognition. When an employee goes above and beyond for the businesses purpose, it is important to recognize it. Creating a workplace recognition program can be especially beneficial. Even having employee of the month programs and rewards can give employees the recognition that they deserve.
Always look for new candidates