9 Employee Retention Strategies That Actually Work

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Employee retention is more important than ever, yet many companies continue to fall short. The statistics are sobering – 38% of employees leave their jobs within the first year and replacing them costs around 33% of their annual salary.

Flexible benefits packages are becoming increasingly important in attracting and retaining top talent. These packages allow employees to customize their benefits packages to fit their unique needs and lifestyles rather than a one-size-fits-all approach.

When employees can select benefits that align with their individual needs, it enhances their overall job satisfaction and reduces attrition. This becomes even more important when managing global teams with diverse needs. If that sounds like you, consider outsourcing payroll and benefits management to a (professional employer organization) PEO service providers to simplify the process across borders.

Inclusive decision-making is a powerful employee retention strategy that goes beyond traditional top-down approaches. It involves actively seeking input and feedback from employees at all levels of the organization when making key decisions.

When employees feel their opinions are valued and their voices are heard, they are more likely to be invested in the success of the organization. Establish feedback channels, regular surveys, and cross-functional decision-making teams to make employees feel invested in organizational success.

Read more: https://husys.com/blogs/9-employee-retention-strategies-that-work/

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