How to Attract and Retain the Best Employees in the Market?
In reality, the perfect company doesn’t exist even though even though everyone dreams of working in one. If you are looking at even the top rated businesses around the world, you can still hear employees griping about something, and that’s normal. So what makes top rated companies on top of the competition? What makes their operations so good that their employee turnover is very low?
While it is easy to say that the answer to this question is no rocket science and that it has long been figured out, one cannot put in a single box all the things that employees would want to make them stay. There are, however, some common factors that business magazines and online business-related sites have gathered.
Flexibility is one of these factors. Most people who are seeking for employment will always look for flexibility when it comes to their working schedules. It is always advantageous if the business offers flexibility in the working hours. 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.
Businesses that give importance to the welfare and health of their employees are always good employers. This would mean that company executives find the means to give their workers access to better health care services. The more generous the health insurance coverage is, the better to make employees stay longer in the business. Inclusivity even for those part-time workers and giving them the same health care benefit is always a plus.
When retirement age comes, nobody wants to keep on working because they don’t have the resources to support their lifestyle. It would be a relief to know that when this time comes, an employee has the right type of pension that can support the lifestyle they will choose. Safe Harbor 401 K plan is one of the most popular plans available. This is especially a very popular retirement plan for most small businesses today. By giving employees access to this pension plan, company executives are not only preparing them for their retirement age, they are also giving them the opportunity to let their money work for them.
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. It is, therefore, a strategic move for business to work on making their employees happy and satisfied to make them stay with the company. 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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