How to Effectively Retain Staff in 2020

How to Effectively Retain Staff in 2020
How to Effectively Retain Staff in 2020

Depending on the kind of business that you run, it can sometimes be hard to keep staff on board for the long haul. In the tech industry, it can be even harder as there are always new opportunities and companies that are seeking staff to come along for the ride. Of course, there are ways to improve your staff retention rates, if you are willing to put some time and money into it.

Let’s take a look at the steps you can take to retain your staff in 2020.

Offer Company Cars

Company cars have been a common employee perk for decades, and although they aren’t as popular today as they used to be they’re still worth considering. Of course, it does depend on the nature of the company and the employee’s role, because many tech jobs do not require employees to travel around for work.

However, if it’s appropriate it might be worth adding a company car to your benefits package. If you are planning on investing in company cars it’s a good idea to look into fleet insurance, which is usually cheaper than insuring each vehicle individually. You can compare policies from a wide range of different providers here at Quotezone.co.uk, making it more likely that you’ll find a suitable policy at a fair price.

Consider Progression 

Another great way to effectively retain your staff is to make sure that you are offering them opportunities to progress.

Your staff won’t want to stay in the same role forever and they will likely want more money as they get more experienced. Look out for those who might want to progress and have the conversation with them. If you can indicate that you will consider it then they might just stay to find out.

Listen to Your Staff

Have you ever thought about the fact that you could be losing your staff because they are not happy with the role? Many employers believe that staff leave because they have been offered more money elsewhere, but it can also be down to a negative experience in the workplace.

Try to listen to your staff more and have discussions with them about how they are finding the role. If there is something that you can fix, do that and you might find that you can keep them around for a little longer.

Offer Rewards

Our final tip for those who want to effectively retain staff in 2020 is to offer rewards where you can. If you don’t recognise the hard work of your staff then they might end up going somewhere that will.

Rewards can come in many forms such as bonuses, nights out and prizes. Try to come up with something that will stand out to your staff and they might just decide to stay with you and not find a new job.

Conclusion

As you can see, there are plenty of ways that you can effectively retain your staff in 2020. Whether you decide to offer a company car or you simply spend more time listening to your staff, you should be able to see an improvement in staff retention rates.

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