10 Ways to Improve Employee Retention

Posted by SRA Admin on Jan 4 2015

In the last three years, the economy has stabilized and we have seen tremendous growth in the “healthy living” industry sectors. Companies in the dietary supplement, nutraceutical and functional food sectors are actively looking for new talent to meet growth plans. New jobs in this sector are being created every week and your employees may be looking at those ‘bright, new and shiny’ job opportunities.

Employee_retentionThe suggestions below are opportunities to improve employee retention as the industry sector continues its growth in 2015 and beyond.

1.   Praise and appreciation. Catch your employees doing something right and publically acknowledge their achievement. Employees love recognition and you may inspire others to strive for excellence too.

2.   Recognize the desire for work/life balance. Employees are starting to expect greater levels of workplace flexibility to accommodate family emergencies and personal matters. An employer who understands the life happens outside of work will garner respect and loyalty. 

3.   Cross –train your employees. Not only will you have a more versatile team, employees will gain a new appreciation for their co-workers job.

4.   Set high expectations for your top achievers. While some employees don’t mind the same job year after year, your high achievers need increased responsibility and bigger goals or they will become bored and look for greater challenges with another employer.

5.   Provide ongoing training communication and team development skills for your Managers and Supervisors. People often leave jobs because of a poor relationship with a direct line Manager. Ensure your managers know how adapt their management style and resolve internal team issues.

6.   Make sure your compensation and benefits package is competitive especially around health insurance and 401Ks.

7.   Consider adding a long-term incentive package for your upper level management. It is much harder to leave a position when there are long-term financial incentives to stay.

8.   Share information. Your employees will more easily adapt to policy or process changes when they understand the business reasons behind decisions made.

9.   Upgrade your onboarding program. The first week (or month) of any new job is challenging for new employee. Ensure you have a comprehensive program in place so that your new team member feels welcome and wants to stay.

10.   Put employees first. Take great care of your employees and they will pay-it-forward and take great care of your customers.

If you would like to discuss other ideas to improve your company's employee retention, please contact us.


Other Articles of Interest:

Employee Turnover & Retention

Employee Engagement - Why it Matters



Topics: dietary supplement, nutraceuticals, employee retention

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