Finding good employees is hard, but keeping them can be even harder. Check out these essential employee retention strategies to help your business.
When an outstanding employee decides to quit their job, you’ll have to scramble to make sure everything runs smoothly. Even worse, other employees might consider quitting as well.
As a manager in the manufacturing industry, it’s crucial to create a working environment that keeps your employees satisfied. Around 2.2% of employees quit their jobs in 2017. Don’t let your company contribute to this percentage.
Utilize these 5 employee retention strategies and save yourself the chaos caused by a low retention rate:
1. Offer Great Compensation
It’s common for employees to quit their jobs if they aren’t receiving enough money in their paycheck–salary significantly affects how well you retain employment. Employees look to be financially stable in their career.
Compare the salary that you’re offering to other manufacturing businesses in your area. Does your price range look a little low? Consider giving raises and offering more benefits if you can afford to do so.
It’s also important to give your employees the option to take paid time off, the opportunity to earn bonuses, and the chance to set up a retirement plan. Make sure each employee is aware of the benefits that your company offers.
2. Have a Great Orientation Program
Starting a new job can be intimidating. Once you’ve recruited the right employee, it’s important to give them what they need to thrive. That’s why providing an excellent orientation for new employees is one of the most common employee retention ideas.
The orientation program should not just teach the employee about the job, it should also teach them about the company culture, as well as give them the chance to ask any questions. New hires should know how they can contribute to your company’s goals.
3. Celebrate Successes
Outstanding employees should be recognized, and any huge goal reached should be celebrated. If your team went above-and-beyond in meeting a certain goal, you should celebrate by bringing the team out for dinner.
Celebrated milestones don’t have to be work-related either. If an employee just got married, throw a little party in the break room. This gives your team the chance to get together and have fun, while also creating a sense of family.
4. Be Understanding
Flexibility is a key factor in employee retention programs. Workers are likely to feel more comfortable working for a company that is flexible. For instance, if an employee offered to stay later than usual one night, you should be understanding if that employee comes in late the next morning.
You should also be flexible when it comes to breaks. If your company is having an especially busy day, make sure your retained employees have time to get a break.
5. Have Some Fun
Consider adding some perks to your company that makes it unique. For example, Google offers their employees free meals and allows them to bring their pets to work. These fun ideas are some of the best retention strategies for employers.
While you probably don’t want a dog running around manufacturing machinery, think about providing free snacks or even adding a gym to your building. When employees feel appreciated by their company, they’re less likely to quit.
Applying Employee Retention Strategies
Retaining employees doesn’t have to be so difficult. Using the right employee retention strategies is key to making your employees feel comfortable and happy in your company.
If you’re looking for more ways to improve your manufacturing business, check out our blog.