Employee Investment Is The Key To Lowering Turnover

Investing in your employees can help your organization lower turnover rates. After all, happy and engaged employees are less likely to leave. But, where should your company begin?

Here are seven ways to effectively invest in your team.  

Prioritize Onboarding

Employee investment should begin on day one with a strong onboarding process. Not only will this give your recruits a great first impression, but also it allows them to become more productive faster(SHRM, 2015) If you’re looking to build a better program, check out this post on successfully onboarding manufacturing new hires.

Pay Fairly

When an organization under compensates their employees, people will find out. This leads to disgruntled workers who quickly start searching for better-paying positions. Remember, you don’t have to offer the highest rates in your industry to attract top talent(Other factors such as benefits packages and work/life balance play into the equation also.) However, you DO need to pay people what they are worth. 

Offer Tuition Reimbursement

Tuition reimbursement is wonderful perk. Plus, it encourages employees to continue their education. Of course, not every company is able to cover 100 percent of tuition costs. Nevertheless, even by paying a smaller percentage, your organization is encouraging people to explore the possibility of returning to school.  

Cover Certification Costs

In many cases, employees can further their career through training or certification classes tooOnce again, this requires time and money. Therefore, your organization could inspire your workers to pursue these opportunities by assisting with the cost of materials, classes and/or testing fees. 

Provide Ongoing Professional Development

Professional development can take a variety of forms from sending small groups to industry conferences to providing half-day on-site training sessions. Programs should be relevant and ongoing. In addition, aim for 100 percent participation. While some employees will automatically sign up for everythingyou’ll need to convince others to stay involved.

Design Team Building Opportunities

Done correctly, some professional development activities can both improve skills and create bonds between co-workers. For example, you could hold an annual FedEx Innovations DayParticipants step away from their daily responsibilities for eight hours and focus on a project of their choiceBut, like FedEx, they must deliver their final product by the next morning. 

Recognize Accomplishments

Finally, don’t forget to acknowledge everything your employees have achievedYou want your team to know you are willing to invest in their development AND celebrate their successes. Recognition may range from congratulatory notes with small gifts to larger office parties.   

Is Your Company Looking to Hire Employees That Are Worth the Investment?  

At Connectology, our manufacturing recruiters match talented candidates with top companies in St. Croix Falls, Wisconsin and beyond. We can help you find employees who fit your short-term business needs and contribute to your long-term success. Learn more about the benefits of partnering with Connectology today!