There are a number of reasons you should focus on employee retention, including the fact its less expensive to keep and develop the team you have than onboard and train new talent. More than just the expense, there’s the actual person you’re losing.
As the workforce becomes increasingly competitive, employees are realizing they don’t have to stay in the same job forever if they don’t want to. As a result, they’re more likely to leave for what’s perceived as a better opportunity. When you fail to focus on employee retention, you could be saying goodbye to your top talent. Here are a few ways you can improve retention.
Develop the right culture
A toxic company culture is one of the easiest ways to lose members of your team. When you don’t deal with the negativity and discontent, you’re telling the team you don’t care about developing a good environment for them. It’s not about having a cool office space or open floor plan; it’s the standard at which everyone operates and how they treat each other. If you find yourself experiencing a lot of turnover, take a moment to examine your company culture.
Improve your benefits
There are always ways to sweeten the deal for your team without breaking the bank. Depending on your industry, you can offer more work-from-home opportunities and more flexible PTO options. If you work in construction where the work has to be done on sight, consider bonuses or wellness benefits, like gym memberships.
Increase training opportunities
Failing to develop your team is a major misstep. If they feel like there isn’t room to advance at your company, even if it’s just their own skill set, eventually they’ll look for something with more opportunities. By making training a priority, you’re expressing you value your team and their growth.
Hire the right people
Ultimately, a good culture and team are built on the right people. It should never be about getting a body into a role but finding the right person who fits with the spirit of your company and represents the growth you’re looking to achieve. When you settle, you’ll see higher turnover because you aren’t necessarily bringing on the right people.
Build your team with TKO
At TKO Construction Services, we understand the desire for a good team. That’s why we’re dedicated to finding the right construction or general labor candidate for you. Whether you need someone in a full-time or temp role, we can deliver the best person for the job. Call us today at 763-862-3245 or contact us online to get started!