Tuesday Tip: Employee Retention

July 14, 2020

According to a late 2019 report from The Conference Board, only 54% of Americans are satisfied with their jobs. This means that almost half of working class Americans are not satisfied with their jobs. Do you wonder if your employees fall within that 46%? Well in these crazy times, it should be one of your top priorities.

Retaining employees is one of the most important aspects to your business, because simply put, you need them for growth and success. Surveyed employees cite low engagement as a key driver in job dissatisfaction. With low engagement comes declining motivation and productivity.

We could all talk at length about why employees are leaving, but Truvelop was created to help employers evaluate, develop and motivate their employees. Check out our top 5 tips for employee retention:

  1. Growth: It’s not enough to promise your employees a chance for growth and progression. Truvelop’s app-based employee assessment system promotes continual appraisals with specific, performance-based development and motivation tips and action items.
  2. Equality: Equality can be talked about in many different aspects, and all those aspects should be considered when dealing with employees. Whether it be gender related, race related, or seniority related. Treat your employees equally and encourage their ideas about equality, diversity and inclusivity.
  3. Recognition: Recognizing your employees and their work can go a long way. Having them feel that they are making an impact and different within your company will keep them motivated to take the step further and do even more. This can help increase morale, productivity, and more. Truvelop’s Spark feature allows on-the-fly real time acknowledgement and conversation.
  4. Communication: It is not just about communication but truly effective communication. Poor communication will adversely impact motivation and mistakes will happen . Effective communication helps to avoid potential conflict and mistakes.
  5. Recognition- Incentives and rewards give employees something more to work for, rather than just going through the motions of their day-to-day job tasks. Some of these incentives may include raises, bonuses, stock options, etc. Again, Truvelop’s Spark is a great non-financial incentive – who doesn’t love public encouragement and accolades. But if the bottom line can support it, am incentive program is a great retention tool.

With a steady practice of these tips, you should see a major increase in employee satisfaction and retention. Visit truvelop.com for more tips and to sign up for a demo of our solution.