5 Most Innovative Employee Retention Strategies

For companies of all sizes, it’s becoming harder and harder to retain talented employees. You can blame it on dwindling attention spans, the hiring process’s high cost, or the Millennial generation.

The truth is, there are ways to appreciate, support, and reward your employees that make them want to stick around. Company retreats and employees-of-the-month aren’t the only ways to show your staff that their effort is important to you.

If you’re looking for more innovative employee retention strategies, you’ve come to the right place. Keep reading for a few options to expand your understanding of what your employees are really looking for in a job for the longterm.

Mentor Program

To help your new employees with the transition period and training, consider assigning them a mentor. Partnering an existing employee with a new hire can make it easier to develop bonds and trust with their coworkers and the company.

Their mentor can be their go-to resource for questions and assistance. They can help them through specific job training, as the sales training process.

It can be beneficial to learn directly from someone who has been through the same onboarding process and has had to solve the same problems.

It’s important that management makes sure that the mentor and mentee work with similar content and that there isn’t a huge experience gap. Otherwise, the new hire might feel overwhelmed by all the information.

Reaching Employee Expectations

Anyone starting a new job is presented with a list of the responsibilities and growth incorporated into their work. Make sure that management can meet these promises.

Employees are more likely to leave a job where they are no longer motivated to grow. They’ll also leave when their expectations are not met by management.

Welcoming Feedback

Regardless of how long an employee has been working for your business, they’ll likely have both positive and negative feedback. Management must absorb and listens to this feedback.

You don’t have to change any processes immediately. But considering employee feedback gives you a view into how comfortable your employees are. It can also tell you what factors might persuade them to either leave or stay.

Varying Work Responsibilities

Having to do the same routine of tedious tasks day after day can make showing up to work miserable. Add some variety to your employees’ routines by offering a variety of work responsibilities and tasks.

This will also allow them to prove themselves worthy of taking on different jobs within the company. It even shows their potential for promotion.

Wellness Programs

Another employee retention strategy is to develop a health and wellness program for your employees. Wellness programs help your employees maintain and improve their health. It also shows that their employer cares.

Fitness plans and company discounts on fitness equipment or meal plans are good examples of wellness benefits.

Innovative Employee Retention Strategies

Factors like open communication and employee recognition are still crucial parts of employee satisfaction. But these innovative employee retention strategies can help your company go the extra mile.

Not every business succeeds at being a workplace that employees consistently want to keep working at. Help your company become one of the rare workplaces that employees feel like they matter.

For more business strategies and advice, head over to our page to discover more inspiration.