Employee retention is no longer as simple as higher pay and more responsibility, says Howard Sosoff of BDO Seidman in Milwaukee. Employee retention is now one of a company’s greatest assets. Employers must recognize the value of retaining their workforce, as opposed to the costly pursuit of recruitment and retraining, Sosoff says.
The following are a few ways to retain your employees:
ˆ? Create lifestyle perks packages that include flexible scheduling, custom-made benefits packages, employee assistance programs and on-site amenities (such as child care, dry cleaning service, and shoe repair).
ˆ? Reward employees for a job well done with movie passes, tickets to sporting events, or an extra vacation day. Handwritten notes also go a long way toward recognizing performance.
ˆ? Establish a corporate culture that values employees.
ˆ? Offer “dress down” days in which employees can wear casual business attire.
ˆ? Institute a goal and incentives reward program.
