The Art of Boosting Employee Retention
By: Margarida CunhaApril 23, 2018
One of the greatest challenges for most companies is staff retention. Employee turn-over has a very negative impact on your business, strategically and financially. The costs for hiring a new employee are very high, so why don’t we put more effort into keeping the right people around? Discover some leadership techniques to boost employee retention.
Make Sure your Staff is Motivated
One of the most important factors for employees to stick around is for them to feel good about their workplace and jobs. This relates directly to staff motivation, and it is important to know each member of your staff and how to motivate them specifically. Each person gets motivated differently and while some of your employees may get happier if they feel invested in career development, others might value more the working atmosphere or the competitive pay. A great way to get to know your staff better, while boosting their motivation is by doing an incentive travel, in which you can create the right space for people to share their views in a more relaxed atmosphere.
Offer Incentive Travel Programs
Is very important that you genuinely value your teams’ effort. They are the biggest asset of your company and it is thanks to their hard work you achieve the wanted results for your business. Therefore, for your staff to keep motivated and wanting to be part of your company, it is fundamental they feel valued and rewarded by their efforts. This can be achieved with salary raises, but often you will succeed at this just by praising them and finding ways to celebrate their accomplishments. A corporate travel is a great way to celebrate your teams’ effort, by creating a unique shared experience that will make them feel extra-motivated and happy to be part of your company.
Listen to What your Employees Have to Say
As a leader you are responsible for managing people. This is a challenging but also highly rewarding job. It is fundamental that your staff feels you are available to help. A leader role is to inspire and support their staff and if your staff trusts you to that, this can go a long way to assure staff retention. If your team trusts you and feels good about sharing with you any difficulties they are facing, this will give you the opportunity to solve the problem and avoid that they quit the company.
Reward Employees for Good Work
If your team is doing a fabulous job, you have to reward them. If your staff is achieving results, they will want to have a directly proportional pay for that. Not always this pay needs to be money, although is important that you offer competitive pay if you don’t want your staff to leave. But other benefits such as flexible working schedules, incentive travel programs, corporate celebrations, amazing team building activities can be given for your team to feel valued and continue being loyal to your company.
Employee retention is a very important part of any successful business and making sure you keep your best asset within your company is strategically a way to achieve results. Therefore, you should invest in motivating your employees, increasing team cohesion, inspiring a good working atmosphere and giving rewards for their hard work.
One of the obvious advantages of rewarding top performers with Incentive travel programs is that the reward is memorable. You can offer gadgets but more often than not, they can buy these by themselves. With money rewards, it’s easy to forget how one spends it. But if you reward top performers with a vacation to a desirable location, they will share this experience with others, for a long time.
Travel with your team, reaching the goals along the way! Know more about Incentive travel programs in Portugal.
Margarida Cunha is Copywriter at Incentives Portugal.
She loves to travel and writing about her adventures. She's focused and she wants to share with you her passion about Corporate Events and Team Building Activities.
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