High employee turnover can negatively impact your business, since hiring and training new employees costs time and money while lowering the productivity of your current workers. Here are five simple ways to help you create an environment where employees feel valued and motivated to stay with your company for years, instead of just months or weeks.
1. Listen to their concerns
While it may sound a bit corny, giving an employee a compliment or an incentive will go a long way. Build a strong company culture by regularly showing appreciation for your employees’ hard work and dedication—even if it’s in small ways like providing lunch or offering treats from time to time. It may seem insignificant, but research shows that people who feel appreciated at work are more loyal and committed to their employers.
2. Ensure you treat all your employees equally
In the workplace, having fair treat to employee equally help to build the trust, loyalty, and stimulate productivity. While there’s nothing wrong with giving employees a little extra incentive if they meet certain goals. Also, though we all like getting birthday presents and free ice cream on our birthdays, don’t make your employees feel like they have to give you one in return.
3. Don’t force them to do anything illegal
If you are planning on doing business in Thailand, it is very important that you understand what kinds of activities are illegal here. Some companies push their employees into participating in things they know are illegal, or at least border on being illegal. This can get you arrested and deported, but it also means some of your best employees will leave if they feel that your company does not behave in an ethical manner. Don’t ask them to risk jail time just to work for you.
4. Give them opportunities for career advancement
Even if an employee has just started working for you, it’s never too early to start talking about their performance. Regular feedback encourages workers to always improve and look for ways they can do their job better. Without regular evaluation, employees can often become complacent. Asking your team members about their professional goals will also give you insight into how they feel about where they are in their career and help you understand what changes could be beneficial.
5. Provide feedback on performance
The number one reason for high employee turnover is poor communication. If you have a problem, address it with your employees. Be clear about your expectations from them and explain how you expect them to meet those expectations. Make sure they understand that there will be consequences if they don’t perform as expected. The company should set KPI for the employee at the beginning of their work tenure, so, you can monitor and evaluate their performance.
Finally, having a high employee retention rate is essential for effective business growth. If your company is faced with employee hiring issues, Criterion Asia can help you find the right fit for your company culture. Get in touch with us today!