Improving Employee Retention through an Employee Alignment Model
There is no key reason why an employee may leave a company. Even though you may be trying to increase employee retention through an employee alignment model, it can be slightly unclear which actions to take. When looking for a solution, your efficiency is based on a general understanding of the wants and needs of your employees. Failure to fulfill these needs can cause a company’s overall health to go sour. But why is it important to create an environment of rewarding employees? In a recent study, it was found that in some industries, turnover rates range from 30-40%. While some companies plan for high turnover rates, it’s not an effective way to grow a strong business. The value a well-established employee can bring to the table is far greater than that of an employee that “cycles” from company to company.
Why is an Employee Alignment Model Important?
There are many reasons why one should take serious note of an employee alignment model. To effectively establish a solution for employee retention, you must understand the problem before you dive right in. Understand where your retention problems stem from. In most cases a lack of communication is where it all starts. Just like a relationship with a loved one, an employer and employee should share a similar connection. Creating a strong relationship is the key to making your employees love work. Great work is only done with passion. But an absence of passion can cause turnover rates can skyrocket. When turnover rates are high, a company cycles through employees. Think of it this way, would you rather have someone who knows exactly what they’re doing, or someone who is always in training. Keeping certain employees for the long-run will only help drive your company in the right direction. Individuals that stay with companies for the long term understand a company’s needs to flourish. Cycling from employee to employee means that you are always training individuals to understand a company’s needs. The key to creating powerful relationships with your employees is to provide recognition for the work that they have done. A lack of recognition is a strong driving force in an individual’s decision to leave a company.
Solution: Create an Employee Alignment Model through Incentives
In most scenarios, people love being recognized for their work. Making sure that your employees are constantly rewarded is the key to establishing a strong bond. By creating an employee alignment model, you will be able to distinguishing an employee’s contribution. This is by far the most efficient way to increase employee retention. While salary can play a huge role, employees who are not rewarded for their hard work can often leave a job regardless of monetary value. Incentivizing work is vital to making sure your employees are happy.
Without an incentive to work, employees often leave due to a lack of overall happiness. Keeping your employees engaged in a passionate environment and aligned with the company values is crucial to your employee alignment model. Find out how Involve is helping companies create an employee alignment model by incentivizing productivity to make employees love where they work by visiting our customer success page.