A company may have the best and brightest employees, but if a company doesn’t cater to the needs of its employees, keeping them can be a daunting task. According to statistics published by the Hay Group, employee turnover worldwide is expected to increase within the next five years. It is predicted to rise from 20.6 to 23.4% and the number of global departures in 2018 will stand at 192 million.
With millennials (individuals born in the early 1980s to early 2000s) projecting to make up 50% of the workplace by 2020 and this number reaching 75% by 2025, the question on everyone’s mind is: “How do we retain our top-notch employees – millennials and senior hires?”
The following are “The 6 Steps to Retaining An Employee,” Forbes provides employers with six steps to help them retain employees.
- Communicate, communicate, communicate
- Coach rather than manage
- Establish clear performance metrics and make employees accountable for delivering
- Leverage performance reviews to gain insights into employee’s goals and aspirations
- Create growth opportunities
- Underscore positive feedback with something tangible
Another tool that can be used in order to retain your employees is by providing them with quality training. Mastery offers training courses on many of the topics involved in retaining great employees. For example, check out courses on:
We encourage you to visit Mastery.com to browse our entire catalog.