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A Quick Overlook of Resources – Your Cheatsheet

How Top Companies Retain their Best Employees

There really is no such thing as a perfect company. If you are looking at even the top rated businesses around the world, you can still hear employees griping about something, and that’s normal. For those businesses that are deemed as top companies, what is it that they’re doing that makes them on top of the pack? How did they work on ensuring their employee retention is higher compared to other businesses?

While it is easy to say that the answer to this question is no rocket science and that it has long been figured out, one cannot put in a single box all the things that employees would want to make them stay. There are, however, some common factors that business magazines and online business-related sites have gathered.

One of the most common factors is flexibility. Whenever it is that one is seeking for employment, one of the things that are being asked for is how flexible the work schedule is. It is always an advantage if you work in a business that has flexible working hours. In this fast-paced generation, nobody would like to stick to working in a job that strictly adheres to an eight to four schedule. If you are a company executive, it would be to your company’s advantage if you find some time to set-up a more flexible working schedule.

Businesses that give importance to the welfare and health of their employees are always good employers. This would mean that company executives find the means to give their workers access to better health care services. Employees are likely to stay longer with their employer when they are given good health insurance coverages for their selves and their dependents. Top employers offer the same set of benefits to all their employees, even to those part-time workers in the company.

Nobody wants to retire someday and still feel the need to work even at a very old age because of financial needs. When retirement age comes, it is comforting to know that you have pension to support your lifestyle. Of all the pension plans available, the Safe Harbor 401 K is deemed as one of the most popular to date. Majority of small ventures nowadays makes use of this popular retirement plan for all their workers. Allow employees to make their money work for them and make them invest for their future.

Statistically speaking, hiring an employee is more costly than working on retaining them. It is said that hiring costs seven times more than keeping a good employee. It would be cost-effective for the business to work on retaining employees and making them feel satisfied with their work. The factors listed above are considered as the most common perks that employees would be looking forward to make them stay.