Top 5 things that keep talent in your company
Maintaining a healthy work environment for employee retention can be challenging, especially when the demand for it has increased exponentially since March 2020 up until the latter months of 2021.
But what qualities make a company a great place to work?
In these changing and increasingly challenging landscapes, we’ve compiled a list of things that greatly affect employee retention in highly competitive companies.
1. Salary commensurate with workload
As it is one of the most basic requirements of employees, but as time goes by and their workload increases, you can provide a salary increase plan for the employees that reflects their workload and added responsibilities.
This way, employees would feel that their hard work is well compensated and there is a limit to additional work and responsibilities within the scope of their current positions.
2. A clear career roadmap
Aside from fair compensation, employees also look at their growth in the company. What opportunities does the current position and responsibilities offer in terms of growth? Where does this position lead? What skills and attitudes should an employee possess to get promoted?
Make these requirements clear and concrete such as "complete certification training in…", "lead a team of 6", etc.
Having a clear idea of where their current role leads and how they can get there will help employees see their future in the company, thus also providing a sense of security.
3. Follow through with company plans
In recent years, companies have invested in initiatives that improve work culture and employee experience.
Some fail, however, due to the lack of follow through in terms of the company's statements and actions implemented among the employees. This causes discontent and dissent among employees that increase attrition.
To avoid these feelings of discontent among employees, ensure that employee programs and initiatives are clearly translated into action. For example, having "work-life balance" programs but not allowing them to take VL's and making them work during said vacation leaves creates a discrepancy in the initiatives and the company's action.
4. Supportive work environment and management
Having a work environment that is understanding of the employee's plight, provides support, and allows breathing room between tasks is like the ultimate Oppa of the professional world.
It takes a lot off the employees' shoulders when they know that they are not alone in whatever they are doing and it eliminates the negative feeling of helplessness that often leads to burn out and resignation (their final act or escape).
5. Invest in employee support programs
*A sound mind in a sound body. *
As the saying goes, a positive mind free of clutter and negative thoughts towards the Self and a body free of illness allows a person to achieve their peak performance as individuals and as employees.
Mental Health programs that aim to address issues pertaining to the "mind" and obstacles in its optimal performance would greatly benefit your employees as they wouldn't feel helpless and trapped. It would also help them address work related stress and issues.
One of the biggest factors in maintaining mental and physical health is the idea of a "safety net" when we encounter financial emergencies.
Financial assistance can take different forms: salary increase, bonuses and incentives, and salary loans.
Though salary increases, bonuses and incentives can only go so much, financial assistance like UnaPay Salary Loans can be that safety net when employees find themselves in a difficult financial situation that warrants fast cash and easy applications.
UnaPay Salary Loans (https://unapay.com.ph/business/company?utm_source=linkedin&utm_medium=linkedin_organic_SL&utm_campaign=linkedin_organic_SL_save) offer low-interest loans (as low as 3%) with quick and easy application and approval (2 valid IDs and 24 hrs disbursement).
Offer UnaPay Salary Loans to your employees by becoming a partner. Set a meeting with us! (https://unapay.com.ph/business/company?utm_source=linkedin&utm_medium=linkedin_organic_SL&utm_campaign=linkedin_organic_SL_save)