Five ways to better retain employees

Last week we passed on advice for hiring holiday employees; this week we have tips on how to hang on to the best employees new and old.

Consultants David K. Williams and Mary Michelle Scott report 40 percent of workers are planning to look for a new job within the next six months, and 69 percent say they’re already passively looking. “As employers, those figures are frightening. We’re careful to hire only the best workers, and once we have them, we want to keep them.

Their advice includes “5 R’s” of employee relationships:

1. Responsibility. Show your employees you trust them by giving them responsibilities that allow them to grow.

2. Respect. Employees want to know they are respected and appreciated.

3. Revenue-sharing. Tie a part of your employees’ wages to the company’s performance.

4. Reward. The rewards you give your employees should speak to their emotional needs and should go beyond their monetary compensation.

5. Relaxation Time. Be generous with time off. Despite the hard economy, provide sufficient time for sick days, family vacations, new babies, etc.

“It is important to remember that a long-term commitment requires effort in both directions.”

The full article is here.