How to Attract and Retain the Best Employees in the Market?
While it is a dream to work in one, the perfect company doesn’t exist. Even in top rated companies, there are still employees who continue to complain about the system in the company. But what really makes top companies top companies? What is it that their executives are doing that, their employee retention is very high?
It is said that the elements of high employee retention has already been figured out, but there remains to be a number of factors that it is nearly impossible to say that everything is applicable to all companies. Business magazines and those business-related blog sites have listed some of these common denominators.
One of the most common factors is flexibility. Whenever it is that one is seeking for employment, one of the things that are being asked for is how flexible the work schedule is. The more flexible the working hours is, the better. In this age, not everyone is interested to work in a job that strictly follows an eight to four schedule. So if you are a business owner, find time to make the work hours more considerate.
The welfare and the health of every employee should also be given great importance by company owners. This would mean that company executives find the means to give their workers access to better health care services. Employees are likely to stay longer with their employer when they are given good health insurance coverages for their selves and their dependents. Top employers offer the same set of benefits to all their employees, even to those part-time workers in the company.
Retirement age means that a person will no longer be working and that they are going to spend the rest of their lives just enjoying their free time and not worrying about their financial status. When retirement age comes, it is comforting to know that you have pension to support your lifestyle. The Safe Harbor 401 K plan is a very popular pension plan that is being used across the United States. Most small companies choose this pension plan for their employees to help them earn better retirement days. Allow employees to make their money work for them and make them invest for their future.
Statistically speaking, hiring an employee is more costly than working on retaining them. Statistically speaking, it would be seven times more expensive to hire new workers than to retain the good ones. That being said, company executives always make it a point to keep their employees happy and satisfied. The factors listed above are considered as the most common perks that employees would be looking forward to make them stay.
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