Employee retention is critical for light industrial companies. High turnover is detrimental to productivity. Plus, it leads to higher recruitment costs, and it can harm a company’s reputation.
Fortunately, there are steps light industrial companies can take to improve employee retention. If your organization is struggling with turnover, here are some strategies that work well.
Cultivate a Positive Work Culture
When it comes to combatting turnover, few approaches are as effective as creating a positive work culture. Ensuring that employees feel valued and appreciated increases loyalty. In turn, your best and brightest are less likely to seek out opportunities elsewhere.
Ideally, light industrial companies need to ensure that managers embrace transparent communication and focus on recognizing their team’s efforts. Rewarding strong performances is also a critical part of the equation, as well as offering support when employees are struggling.
Encouraging team members to recognize the efforts of their colleagues is also effective. By doing so, you create a culture of appreciation, ensuring everyone is expressing their gratitude to one another when appropriate.
Offer Competitive Compensation
While a positive work culture is vital, don’t overlook the importance of offering competitive compensation. Professionals want fair salaries and comprehensive benefits, and if their current employer doesn’t measure up to what’s available through a competitor, employees may leave simply to secure strong compensation.
Take the time to conduct regular salary surveys and research competitor offerings. Then, use that data to update pay rates and benefits packages to ensure what your company provides meets or exceeds the industry norm.
Provide Pathways for Advancement
Light industrial employees classically have career aspirations beyond their current role. If they aren’t able to remain upward and mobile with their current employer, then the majority will seek out opportunities elsewhere to ensure they can advance. Since that’s the case, having clear pathways for advancement is a simple way to boost retention, as it makes leaving for another company unnecessary.
Ensure your company has training programs that help employees qualify for the next role up the ladder. Additionally, show how participating in training makes them eligible for promotions, ensuring the workers make the connection. Finally, prioritize promoting from within instead of seeking outside talent, as that demonstrates your company’s commitment to helping its workforce grow and advance.
Promote Work-Life Balance
Work-life balance is essential to ensure the well-being of your employees, and it plays a significant role in retention. Many workers won’t tolerate excessive mandatory overtime, trouble getting leave approvals, or similar issues for long – mainly because those challenges aren’t part of the equation if they work for your competitor.
Find ways to make work-life balance easier to maintain. Make requesting leave straightforward and look for ways to say “yes” whenever possible. If mandatory overtime becomes problematic, partner with a staffing firm to quickly scale up your workforce to alleviate the burden.
Ultimately, by focusing on the areas above, you can improve light industrial employee retention quickly. If you’d like to learn more or need exceptional candidates to fill your vacant positions, Premier Staffing Inc. wants to hear from you. Contact us today.