5 Low-Cost Ways to Keep Employee Retention High

The problem with hiring exemplary accounting and finance professionals is everyone wants them. Once you’ve managed to snag a solid workforce, you have to ensure you do your part to keep them right where they are. Here are five low-cost strategies for boosting your employee retention rate.

  1. Promote from Within

The next time you need to fill a position, go to your current employees first rather than post an ad on a job board. You never know if your team members have been thinking about taking on a new role or a more advanced position, and you also might not know if they’re just as well-suited (if not more so) as outside candidates.

  1. Employee Relaxation = Employee Retention

Stress is easy to come by in the modern workplace. Rather than have your employees hurry out of the office to find peace and quiet, provide them with such a place inside your office. Setup comfortable couches, chairs, games, books and a coffee table where your employees can kick up their feet and relax for a little while. A few moments of peace can do wonders for mood and productivity.

  1. Make It Easy for Employees to Be Passionate

When you’re emotionally invested in something, it becomes a pleasure rather than a chore or a means to an end, and the same applies to your business. Whatever service or product your company provides, get your workforce passionate about it, which involves making sure they have all the information and details necessary to accurately understand your business and its wares or services.

  1. Encourage Feedback

Rather than rack your brain thinking of ways to improve your business, turn to your employees. Your workforce is sure to appreciate you asking them for their insight, and they’ll appreciate it even more if you actually use their suggestions.

  1. Birthdays Off

Simply put, who wouldn’t want to remain with a company that lets you have your birthday off?

For even more ways to boost employee retention check out 5 Ways to Reduce Turnover and Improve Engagement