The 7 Key Elements of a Winning Employee Retention Strategy (Infographic)

What’s your company’s strategy for ensuring your valuable employees don’t go seeking employment elsewhere? Well, according to this infographic by Ajilon, only 19% of employers actually have a formal employee retention strategy in place. So, if you’re one of them (and there’s a good chance you are), pay extra special attention to their tips for how you can create a winning employee retention strategy and increase your employee satisfaction tenfold:

Source: Ajilon.com

Top Takeaways:

1. Conduct employee surveys – find out what motivates them, what they would change and do exit interviews when people leave.
2. Get managers invested in their people – have them perform regular performance reviews, promote higher performers and coach struggling employees.
3. Encourage open communication between employees and management – hold regular meetings for everyone, establish an open-door policy and don’t punish anyone for speaking their mind.
4. Tailor company benefits to your employees’ needs – look at things such as flexitime, working remotely, free meals or other incentives.
5. Always seek to promote from within – provide clear paths for advancement, offer support and training, implement a KPI system to spot your top performers.
6. Get employees engaged with the business –  ensure that they see their place in the bigger picture, clarify what is expected, provide goals to strive for.
7. Hire an HR director if your company is pushing 100 employees – allow them to streamline your structure, trust them to head up employee satisfaction and establish employee wellbeing as a clear priority.