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Hold Onto Your Employees With These 5 Tips

Hold Onto Your Employees With These 5 Tips
Just this past March, more than four million people decided they could no longer stay at their current jobs. This massive shift in employment is part of an ongoing phenomenon called “the Great Resignation,” and is causing concern amongst employers everywhere. Hiring and training a new employee is greater than the costs of retaining one, so it’s no surprise that companies are starting to look at strategies for holding on to their staff.

Fortunately, employee retention can be strengthened by enacting just a few simple changes. These changes don’t have to be promises of elaborate bonuses or extended PTO time, either. Simply by showing appreciation, improving the workplace culture, and modeling empathy, employees can begin to feel more valued and invested. And when employees feel valued and invested, they stay. 

Why Are Employees Leaving?

Today’s economic and cultural landscape looks a lot different than it did 10, or even 5 years ago. Housing costs, health concerns, consumer demands, and new opportunities have prompted employees to look deep and reassess their interests. For many, this has led to changing jobs and careers entirely. 

The most commonly cited reasons employees are leaving include:

  • For better pay  
  • More opportunities for growth
  • To escape a toxic work culture
  • To explore another career path

By understanding what’s influencing an employee’s decision to leave, your company can begin implementing new policies and making greater efforts to keep them. Doing so will not only help maintain your workforce but also save the company a lot of money.

5 Tips for Hanging On To Them

Losing employees and team members, especially because they are unhappy, is a terrible feeling. When you work together for so long, your team members can start to feel like family. Fortunately, there are a few simple things you can begin doing today, no matter what role you’re in, that will foster a better culture and compel them to stay. 

  1. Open the lines of communication
  2. Foster camaraderie and relationship-building
  3. Express gratitude and praise
  4. Lead by example
  5. Show appreciation 

These may sound obvious, but a surprising number of companies actually don’t put these into daily practice. As employees place a higher priority on happiness and growth, only employers who prioritize their well-being will come out on top.

Appreciation Builds Relationships

Think of the last time you received a ‘thank you’ card or a small gift from someone you helped. It felt good, right? Studies show that 70% of employees who feel their work is appreciated feel better about themselves and their jobs in general. This is incredibly important because, like with anything, when we feel good about ourselves and our efforts, we work harder. We go further. We give more of ourselves. 

Showing your employees your appreciation for their efforts has ripple effects that extend beyond the momentary feel-good exchange. It creates the kind of culture that not only keeps them but also attracts new people. When your company becomes one that people don’t want to leave and others want to join, then real growth and traction can take place. And where growth and traction exist so, too, does success.  

Show appreciation by:

  • Giving a gift card to their favorite restaurant
  • Building an employee appreciation gift box
  • Giving a custom gift, like a personalized insulated coffee mug or pen set
  • Sending a digital gift, like a food delivery gift card or event tickets
  • Simply saying “thank you.”

There is no right or wrong way to express gratitude. Ultimately, just thinking of your team members and employees and doing something nice for them builds a positive relationship. 

Need some inspiration? Explore our corporate gifting services.

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