What are some good ways to improve employee retention rates?


Quick Answer

Attractive pay, benefits and ongoing training are three ways to improve employee retention. Offering bonuses and incentives also helps keep employees enthused about remaining at the same company.

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Full Answer

Employees are more likely to remain in positions when pay rates are commensurate with their experience, abilities and seniority levels. Opportunity for advancement is also an important component in retaining quality employees. Health insurance is a highly valued benefit that has a positive effect on employee retention, and paid sick leave is always a welcome benefit. Other employee-retention strategies include performance-based incentive and bonus programs, life insurance policies and opportunities for ongoing training for free or at a reduced cost. Full or partial tuition reimbursement programs provide excellent ways for employers to increase staff skill levels and retain ambitious employees.

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