Employee turnover can be a thorn in the side of a developing company. No business wants to let a well-trained worker leave. It's not just about the wasted investment in their potential, but also the impact it has on other employees of the organization.
Employees who have their needs met and are being catered to tend to appreciate the place that they work at. Giving them ways to develop as better workers and versions of themselves offers them a new dimension to employment -- one they can't get anywhere else.
Twelve contributors to Forbes Human Resources Council take a look at the measures a company can develop to offer added value to their prized employees.
1. Invest In Their Professional Development
It's critical for organizations to provide employees with opportunities for continuous learning, skill-building, and competency development. The half-life of skills is shrinking in the digital economy and the stakes are high, so employees put a premium on remaining competitive. If an employer will not invest in their professional development, they will leave to join a company that will. - Heide Abelli, Skillsoft
2. Give Them Purpose Through Meaningful Work
Attempts to retain employees through endless perks are appealing at first, but ultimately fall short. People want their work to mean something, to be part of something they believe in and that's bigger than themselves. Businesses that know who they are and why they do what they do shine bright, even if not offering as many perks, because employees get real value: purpose. - Courtney Pace, FedEx Employees Credit Assoc.
3. Make Sure Your Leaders Have A High EQ
As the old saying goes, employees don't leave their company -- they leave their manager. Ensuring that your leaders have a high EQ, and allowing them to manage with the right balance of employee and organizational needs, will organically create highly engaged brand advocates for your business. - Shelli Nelson, Madison Industries
4. Customize Your Benefits
We live in a world full of customization -- playlists, sneakers, how you like your coffee -- so my advice is to try and provide a very broad spectrum of choice. We provide each employee with an allowance to spend on their well-being each year -- some choose gym memberships, while others prefer to have their household chores covered. Empower your people to make the right choices for them. - Paul Phillips, Avanade
5. Make Employees Feel Valued
Select a few employees from various departments and positions to recognize each month. Post their picture with a short paragraph to highlight their personal accomplishments, hobbies, volunteer activities, outside interests, years of service or special contribution they have made to the company. Send out via email, or post on social media or the company website to make them feel valued and included. - Debi Bliazis, Champions School of Real Estate
6. Make Them Feel Heard
When employees have a voice, they feel their opinion matters and they have a say in their employee and customer experience. That is empowering. It must be structured and intentional. Smart strategies include two-way feedback channels that are communicated regularly to gather information on strategy, training, career, wellness, work flexibility and the specific needs of employees at all levels. - Cat Graham, Cheer Partners
7. Create Positive Employee Experiences
Adding additional value to employees isn't always about more perks or benefits. It's about enhancing the experience employees have when they interact with the benefits and perks already in place. For example, if you have an employee assistance program (EAP), are people using it? Have you marketed the benefits of what your EAP provides and how well-being is more than just wellness, but includes emotional and financial wellness? - Melissa Anzman, bettHR
8. Create Channels For Two-Way Dialogue
Encourage two-way dialogue through informal channels, such as skip-level meetings or an internal social networking tool. Employees are willing to share feedback this way, especially when leaders act on their input. And, leaders should use these forums to ask for feedback. When employees feel heard, trust grows -- creating the foundation of a great culture. - Kelly Ann Doherty, Mr. Cooper Group
9. Give Them The Option To Leave
If you want your best employees to stay, give them the option to leave. By allowing employees to spend time away from their job, such as sabbaticals and job exchanges with noncompeting companies, for example, without sacrificing the option to return, employers can strengthen their employees' intentions to stay. - Claudy Jules, Google
10. Focus On Whole Person Wellness
Wellness platforms, like Vitality, allow organizations to encourage all aspects of wellness, personalized for each employee, which allows them to bring their best selves to work each and every day. They choose from multiple physical and mental activities, healthy eating habits and wellness checks, and are rewarded with gift cards and giving opportunities. - Sherrie Suski, Tricon American Homes
11. Incorporate Policies To Keep Them Healthy And Happy
Employees spend the majority of their waking hours at work, so it makes sense for employers to incorporate policies to help keep them healthy and happy. Benefits like personal time off for birthdays, volunteering and work anniversaries can go a long way. Giving employees the flexibility to work an hour or two earlier or later, depending on what they need, also fosters trust and greater satisfaction overall. - Laura Spawn, Virtual Vocations, Inc.
12. Provide Health Benefits Employees Can Actually Use
Employees care most about health benefits. Yet, most health insurance is absurdly expensive and confusing. It’s time to select or design health plans that show there are treatment options and display clear costs in advance to empower employees to make informed decisions regarding their health and pocketbooks. - Jenna Obrycki Upgren, Bind On-Demand Health Insurance
