Employee Retention: Keys To Ensure Employee Satisfaction
According to the 2021 Bureau of Labour statistics, it’s been reported that the overall employee turnover rate stands at 57.3%. On average, if you analyse the employee turnover rates for the past few years, it has been experiencing a steady growth year-to-year.
When considering the underlying causes of a higher employee turnover or a lower employee retention rate in organisations, it has become apparent that employee satisfaction plays a crucial role in this regard.
As it is best said, “A happy employee makes a happy customer,” the same is true when it comes to retention. Only when your employees are happy with your company, they will stay with you longer. And happy employees are the result of a satisfied workforce. Meaning the more an employee is satisfied with your company, the happier they will be and the longer they will stay. In this article, we will list down three keys to improving employee satisfaction in your organisation.
Be Flexible
From remote working to everything customisable, flexibility is embedded in all aspects of modern life, and employees too naturally expect that in a work setting.
Nowadays, when looking for jobs, besides the pay ranges, candidates also specifically focus on work flexibilities – this is particularly true amongst the millennial generation. So your organisation must be oriented towards workplace or job role flexibilities wherever possible, in a way that will allow employees to manage their work-life balance as they want. Now, this also includes giving them the right HR platform to facilitate a flexible work life.
When employees are addressed with their flexible demand appropriately, it’s very easy for them to feel easy and convenient around your organisation, which reduces the chances of them developing the need to leave or shift to another company- thereby increasing employee retention.
Drive Communication And Transparency
Change is an inevitable part of anything, including the corporate world. However, when changes occur, dissatisfied employees tend to be those who feel they were not informed or communicated appropriately. Nowadays, employees consider transparency as a critical factor when it comes to job satisfaction. This is why adopting a culture that enhances communication and transparency is essential to generate a satisfied workforce.
Doing this is a seamless process in this digital era, where there are plenty of advanced HR systems that can be customised according to precise HR expectations such as improving transparency and communication networks.
The communication initiatives you take in improving employee satisfaction must always be focused on a two-way process. This will allow employees to express and contribute their inputs freely without any restrictions, thereby making them feel heard and accepted within an organisation resulting in a higher level of satisfaction.
Training And Development
The figures in the payslip are no longer the only thing employees look for in a job role, and it is certainly not the only way to keep employees satisfied. The business world is dynamic and more competitive, and employees are looking to stand out among the crowd in a way that creates a promising career path. The only way this is given to an employee by an organisation is by facilitating different opportunities where they can learn and grow consistently.
When you support employees to upgrade their competencies and drive their career development, it’s easy to feel they are growing within the organisation. Moreover, the extra skills and competencies they develop through appropriate training and development programs will also offer an upgraded level of service to your organisation. So it’s a win-win situation where your employees are satisfied, and you can also keep your company’s employee retention rate high.
If you’re looking to integrate an effective HR system to keep your employee satisfied by addressing all their requirements from a workplace, then reach out to us at EmiratesHR. As one of the leading HR software solutions providers in the UAE, we offer customised cloud-based HR software that effectively caters to all HRM needs regardless of how complex they may be.