The business and corporate world have changed dramatically after the global pandemic crisis. Whether they prefer remote work or not, many businesses had to change their company policies to remote work. Employee retention strategies are a must-have asset for employers after the pandemic.
We have curated a list of a few effective and innovative ways to retain employees. Here are 10 employee retention strategies in 2021.
1. Promote four-day work weeks
Many businesses have started four days a week by increasing their daily working hours. This is one of the successful and creative ways to retain employees by providing them three days off on the weekend to spend quality time with their loved ones.
The results were surprisingly positive for many organizations, as employees accomplished more in the reduced week schedule than the normal one.
2. Promote Job Sharing
Job sharing is a way to manage two part-time employees to work for a job. This will help manage your part-time employees well, and it increases their productivity as they are clear about their job responsibilities, and they have the flexibility of time at work.
This is one of the employee strategies in 2021 when the world is wounded by the pandemic crisis.
3. Flexible working hours
Flexible working hours are the most important factor for retaining employees for a longer period. A study said that more than 66% of employees reject a promotion that makes them spend less time with their families.
So, this is one of the creative ways to retain employees, but just a matter of common sense. Make a work schedule that provides a win-win situation for both you and your employees for better results.
4. Allow work from home
This is one of the most important employee retention strategies in 2021 as it’s necessary to allow certain employees to work from home. We are not saying provide full-time work from home, but let them have this option by their side.
You can make a different work from the home schedule for your employees to utilize their schedule for more productive results.
5. Provide career development opportunities
Career development opportunities are yet another one of creative ways to retain employees. You can help employees with tuition reimbursements if their selected courses or skills are beneficial for your company.
Provide them opportunities to attend and speak at career-related seminars. Do whatever you can to let them know that you want them to grow with the organization.
6. Hire and promote skills
Academic education must not be the factor to hire or promote employees. One of the innovative ways to retain employees says employers must hire or promote employees based on their relevant work knowledge and skills.
You can measure their skills by utilizing skills assessment tests. Make a routine to conduct these tests.
7. Reward efforts
Acknowledging your employee’s efforts is the most important thing for an employer or business owner. Being one of the innovative ways to retain employees, this is the most effective way for employee retention.
The best way to do this is to conduct monthly or quarterly meetings with employees to discuss the performance of each employee and company revenue. Acknowledge the efforts and reward them with incentives or bonuses.
8. Alter work responsibilities
The same work could feel boring in the long run for anyone. You can alter the work responsibilities of your employees to lighten up their minds. This allows them to understand the whole business and also helps them in the advancement of their professional development.
9. Work-life balance
Work and life are both the most important factors of a happy life. People find it difficult to maintain a work-life balance. Especially for new parents, having quality time with their children is a priority.
More than 11% of employees have refused a job due to a lack of work-life balance. Make sure to include this strategy in your list of creative ways to retain employees.
10. Exit Interviews
Exit interviews are a great way to find and fill the gaps in your organization or management. Ask about their experience working with your team. Make sure to take feedbacks from them. They have worked with you and are well aware of your team and management, so their feedback could be as expert advice for your organization.
These innovative ways to retain employees are truly effective if done well. We hope this blog will help you understand the importance of employee retention and help you do it in the most effective way.
Job Museum is a recruitment consultancy providing placement services all over India. Contact us at +91 76000 28847 or head on to our website for more details and such interesting blog posts.
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