Today, business owners seem to struggle with retaining employees and fostering their loyalty. It may be because of the brashness seen in most of generation Y, yet there may even be more factors that encourage employee turnover in a company and that you are unaware of.
Loyal employees make successful companies, so it is imperative for a business owner to earn this loyalty—but what really keeps employees glued to a company? If you’re thinking about the perks, you may need to look far beyond.
A Clear Goal
According to an article by Forbes, a company needs to have a mission, a vision, and a set of core values that can be understood and valued by everyone within it. Having a purpose is what fulfills people the most. That is why talented individuals tend to work for a business that has compelling values and a penchant for creating a difference.
Why does the company exist? What does this organization aim to achieve? These are just some questions that potential employees may ask before they apply for a job at your company. As an entrepreneur, it is best that you reflect on these yourself first before anything else.
Opportunities for Improvement
Employees are more likely to stay if they develop a good working relationship with your company, which involves giving them regular opportunities to develop their skill sets. Some business owners tend to worry that they may be investing too much in their employees. That effort can become futile once they leave, but business owners may want to do just the exact opposite.
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Workers often look up to their managers, which is why it is important to train your managers to be a source of growth and inspiration to other employees. This includes sharing their expertise and providing many opportunities for professional growth.
Just like in any relationship, good communication is the key for employees to stay. The secret to great employee communications is actually simple: communicate often—even more than you think you have to. When you relay a message to your employees, make sure that they are relevant and honest and, of course, within the bounds of legality and prudence.
One instance where you can establish good communication is when implementing a drug-free-workplace policy, which may involve an annual employee marijuana testing or a random THC test. Since drug abuse has been known to affect the workplace in more detrimental ways than one, it is important to establish a strict rule against its use, all while ensuring that your message is aptly delivered and understood by your subordinates.
One More Thing
Loyalty comes naturally in people once they think you deserve it. When you know what your employees are looking for and when you apply these elements to your business, they may never need to look for another job again.