Human Resources: How to Retain Employees in the Face of Competitors
Updated: Sep 14, 2019
Many companies across the world lose their employees. A big company like Samsung even loses its employees to Apple. Some employees might quit because they didn’t like working for that company. Others might leave since they were not paid enough. But the third category is the employees that part because they weren’t motivated enough to work. Despite being highly successful, some companies don’t keep their employees engaged or interested in their job. For the third kind, money isn’t a big factor. They don’t mind giving up their job. All they aspire for is a hostile working environment. If this is the case for big-time companies, what might be the case for small companies? How can a company make sure that their employees don’t leave them?
Firstly, companies need to give employees some power. When given power, these workers will feel very motivated, and make decisions that benefit them. This correlates with employee satisfaction, and that is a huge deal. Managers need to make sure that their employees are satisfied with their work. Happiness leads to higher productivity. When employees are more productive, that inevitably benefits the company. Also, when they are satisfied, they won’t even think about leaving the company. At the end of the day, a business’s future depends on how successfully it retains and keeps employees satisfied. Giving employees responsibilities, and the opportunity will build the company a higher image. If companies give employees given a chance to take some action, the employees will more be inclined to stay in the company.
Next, companies need to know their employees’ concerns. Employees leave companies since they feel that their boss isn’t that nice to them, or doesn’t understand their concerns. The best manager is the one that genuinely talks to their employees. Unless a manager is compassionate and understanding, there is no way that the employee will be happy with their job. Another reason that employees may leave their companies is since they have disputes with one another. A manager needs to make sure that not only do they need to understand their employees but also that the employees understand one another. This sense of understanding must be felt between the employees for them to work collaboratively and effectively. In the end, it is vital for managers to effectively to communicate with their employees to result in the benefit of the company.
Indubitably, if companies don’t want their employees to leave them, then they should have managers collaborate with employees, and give the workers more power. These two strategies will help the company retain employees, and make them happier. As stated previously, more satisfaction leads to higher productivity. In the end, it is incredibly important that companies understand the significance of doing these acts. It doesn’t matter the size of the company, but any business should definitely follow these two strategies if they wish not to lose their employees to competitors.
By: Chari Govindarajan