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Relationship Builders Have An Employee Retention Strategy

Employee Retention as a Strategy. This article discusses employee retention as a strategy. Retaining employees means lower training costs and a familiar well established workforce. [BusinessPundit]

When you look at it, you often have to go through a lot of bad employees before you get to that one great one. Have you ever calculated the cost of finding that single high quality employee? This is why relationship builders need an employee retention strategy.

While there are no perfect employees, your better employees cost you thousands (even hundreds of thousands) to acquire. That's money you lose when great employees move to another company. If you don't have an employee retention strategy, you're probably not investing enough in profitable relationships with employees.

Relationship builders use some of the following strategies in their employee retention strategy:

1. Create better individuals contributing to clear corporate objectives. Strengthen employee skills around corporate objectives they fully understand. This creates some buy-in and make them better suited for the accomplishment of those objectives.
2. Develop an environment that promotes retention and growth. Reward those who stay with your company with pay, privilege, and promotions. Let it be known that only the best stay, and make employees feel special for their dedication for you.
3. Listen to employees individual goals and match personal objectives. Not every employee is right for your company, keep those whose personal goals contribute to the objectives of the company. You'll find these people work harder and stay longer.
4. Require an independent human resources to serve needs of employees. Too often human resources is the champion of management, encourage this group to function as an independent party. Human resources should translate the needs of employees helping management fulfill them as they contribute to corporate objectives.
5. Help employees live better on what they have. Improve the quality of living for your employees no matter their financial compensation through company benefits that leverage group buying. This includes reducing their costs in health care, staple goods, and work related expenses.

While this isn't an all inclusive list, it's a great start for every professional company who wants to make more of their staff investment. Where will you start today improving employee relationships?

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By Justin Hitt at November 25, 2003 11:54 PM  Subscribe in a reader