3 Tips for Retaining your Employees in a Competitive Market

3 Tips for Retaining your Employees in a Competitive Market

The pandemic has jarred the workplace leading to overwhelming employee dissatisfaction. The season of quarantine gave space for employees to realize their decreasing toleration of low wages and of work schedules that are not in sync with their lifestyles. As a result, what was once an employer-driven market has turned into an employee-driven one, sending companies scrambling to not only compete for top talent but also avoid massive bouts of employee turnover. Tips for retaining top employees are more important to employers than ever before.

Subsequently, job loss related to the pandemic has morphed into something bigger. Economists are calling it The Great Resignation: Companies are not only concerned with filling positions, but they are also going to extreme measures retain existing employees.

What can your company do to stay ahead of a mass exodus? Here are three critical tips for keeping your staff engaged and committed.

1. Retain Top Employees By Offering Competitive Salaries

The reality is money talks.  Competitive salaries not only reduce attrition by turnover, but competitive salaries can also benefit your business’s bottom line. Pay raises can be expensive but high turnover is immeasurably more costly in the long run. Thus, as an employer, you get to decide if you want to spend your payroll on raises and bonuses for current employees or on hiring and training new employees.

2. Expanding Benefits

Nonetheless, salary isn’t the only way to reward employees. In contrast, additional perks like health/wellness benefits and more paid time off, provide employees a greater sense of freedom when it comes to why and when they work. Programs for professional development and childcare are also other ways for your business to augment your staff’s quality of living.

3. Champion Work-Life Balance

Hybrid and remote work schedules are here to stay. Much of the workforce established a more satisfying work-life balance during the pandemic because of remote work situations––and now employees are demanding to keep those schedules. As a result, flexibility is key and the beautiful reality is, flex schedules actually increase productivity.

A willingness to invest in your employees is a critical step in getting your employees to invest in your company. Chances are, with decreased turnover, your company will experience increased employee satisfaction which can feed a positive work culture and increase your company’s overall productivity.

Star Staffing is a full-service, local staffing agency. We focus on making the best match between employee and employer. We can also give you more tips on how to retain your best employees. With offices throughout Northern California, Star Staffing is just a click away.

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ABOUT STAR STAFFING

With over 20 years in the staffing industry, Star Staffing has thrived as a top temporary staffing agency recognized multiple years by Forbes for our excellent service. Star Staffing supports multiple industries including food and wineevents and hospitalitywarehouse and distribution, and more. As the economy heals, we look forward to maintaining our promise: We are here when you need us.

Star Staffing is a full-service workforce solutions firm. We focus on making the best match between employee and employer. With offices throughout Northern California including SacramentoFairfieldNapaPetaluma, and Santa Rosa, Star Staffing is just a phone call or click away.

 

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