According to recent Department of Labor statistics, employee retention is shockingly low, with the average tenure of American employees at only 1.5 years. Are you giving your employees incentive to leave your company for greener pastures?
Heed these employee management tips for keeping employees happily committed:
• Don’t confuse financial objectives with your vision for the future.
Vision feeds financials, not vice versa. Paint a compelling vision of your company’s future and sell your employees on it over continually grappling for abstract profit margins, which mean little but to a select few.
• Give employees a sense of purpose.
Develop a steadfast mission plan to inspire employees to make a difference. Help them feel a sense of purpose, importance, and belonging in their position. Employees should understand business strategies may change, but your company’s overall mission will not.
• Show you care.
Lack of empathy – not listening to employees or addressing their concerns – is a surefire way to send workers running. Cultivate autonomy and innovation. Encourage an open door policy for concerns or suggestions to strengthen loyalty. Address topics at hand, explaining why they may or may not be actionable.
• Make steps to advancement clear.
Employee management tips for developing future career paths must be well-communicated and understood to motivate employees to attain higher-ranking positions – or even horizontal maneuvers.
• Think: Fun and flexible.
Blurring the line between work and play can create a far more productive work environment. There is no greater myth than that of financial compensation as an end-all-be-all motivator for performance or longevity.
Get the employee management tips you need to control workman's comp costs. Contact Minnesota Comp Advisor today.