Leaving a job is something we’ve all considered at one point or another. Whether it’s because of personal reasons or we don’t get along with the management, this is a phase that we must all live through. We’ve seen the coolest organizations today such as Google and Facebook try to entice their employees with free food, massage, and unlimited vacation leaves. While it’s nice to dream that all employers are like them, we know that it’s impossible.
One of the first things that you need to look at when applying for a job is the employee benefits suppliers of the company. You need to ask the hiring manager about the company’s compensation packages. The competitiveness of these benefits relies on the efficiency of the providers.
Companies do exit interviews with employees who have resigned from their posts. They look at the reasons these employees have left the company when they should also focus on the people who stay there. Instead of relying heavily on the information that these exit interviews provide, why can’t companies talk to employees who have been there for years? Ask them why they have decided to stay. You could have been doing something great and not realize it yet. That could be the selling point of your company to top candidates.
Do you pay your employees fairly? Do you compensate them well enough for their efforts? Do you incentivize them when they go beyond their duties? You want to give your employees a reason to stay in your company. And as much as you want for them to stay because they are “passionate” about their jobs, that’s not going to pay the bills.
When you pay your employees enough, money is not going to be an issue. Instead of worrying about why they should do more than what they are paid for, the workers will think about how they can finish a project on time. They will worry about how to make the company look good in front of the clients.
The satisfaction of your employees will not only come from their salaries. It will come from having values aligned to yours. Your employees will feel more comfortable if they share the same values as the company’s. This isn’t about politics. This is about the core values of what your company stands for. Do you discriminate workers? Are the company policies anti-feminist?
Believe it or not, but employees stay for their coworkers. When they enjoy the company of their workmates, they are more likely to stay in your company. That’s why it’s important to allow your employees to grow and bond together. Instead of pitting them against each other by playing favorites and compensating unfairly, foster friendship in the workplace. Your company will reap the rewards of a more stable work environment and friendlier staff.
The reason Google and Facebook “spoil” their employees rotten is because they are more productive when they are, well, spoiled. Employees appreciate the time that their senior executives spend mentoring them. They love that their human resource departments are coming up with ways to integrate yoga, meditation, or Zumba classes into their free time. Since employees spend more than 40 hours a week on making sure that your business is running smoothly, you should invest in their well-being, too.
Staff turnover will drain your company resources. Companies spend at least $2,000 on average, looking for candidates to fill up their job openings. This is more than the amount of money you need to spend on compensations and other benefits. On top of that, you’ll have a happier and more productive workforce.