Retaining top talent is critical for the success of any organization. High turnover rates can be costly, both in terms of time and resources spent on recruitment and training.
To combat turnover, companies are increasingly focusing on creating an environment that encourages employee satisfaction and loyalty.
Read on to uncover some effective strategies to improve employee retention and create a workplace where employees feel valued.
Article Contents
1. Childcare Facilities
One of the most significant challenges faced by working parents is balancing their professional responsibilities with their family obligations.
Employers must meet their workers’ needs and offer benefits that will not only retain current employees, but also attract new talent.
Childcare gives parents the peace of mind that their children are well taken care of. At the same time, it allows them to fully focus on their role within the company.
A child-friendly office with playground equipment outside and dedicated childcare staff can alleviate the stress associated with finding reliable childcare arrangements.
COVID-19 showed how important childcare really is. When suddenly children were at home due to the closing of schools, parents found themselves without a safety net of childcare.
A survey showed 26% of women who became unemployed during the pandemic stated that it was due to lack of childcare.
Companies that have already stepped up childcare benefits include Bank of America, Microsoft, and Johnson & Johnson. Providing onsite childcare facilities can be a game-changer for many employees.
And for employers, it demonstrates that they understand and support employees’ needs, fostering a sense of loyalty. It truly benefits both parties.
2. Fun Office Space
Gone are the days when offices were dull and uninspiring spaces. Many companies are now investing in creating fun and vibrant work environments that encourage creativity and collaboration.
A well-designed workplace can improve people’s mood, but it takes more than adding a few pictures and plants.
Employees want something that the human body thrives on: natural light. Workers spend the majority of daylight hours in the office.
They would like to bask in sunlight and have views of the world outside. Exposure to natural light improves mood and can ease symptoms of stress.
People who sit near windows during the day tend to be more active and get more sleep than those who don’t.
Amazon took the desire for sunlight and turned it into something truly unique. They created the Spheres, large glass domes with over 40,000 plants from over 30 countries.
Turning the everyday into the exciting is a new trend in office spaces. In Indonesia, the ad agency of Ogilvy & Mather added a slide to their staircase for added workplace fun.
Other offices with slides include Google in Zurich and San Francisco, LEGO in Denmark, and Red Bull in London.
In keeping with the playground theme, Groupon in Chicago has indoor swings to help employees relax and enjoy their workday.
Another fun perk that helps employees feel at home while at work are pet-friendly work spaces. Pets reduce stress, decreasing cortisol levels and lowering blood pressure.
Since stress interferes with concentration, having pets in the workplace can improve productivity. If you choose to allow dogs, consider in-office perks like dog beds, safety gates, and treats.
Some companies even offer paid time off for adopting a new pet or for when a furry friend passes away.
3. Exercise and Health Benefits
When employees get sick or have health problems, it affects the company’s bottom line. Personal and family health issues cost American businesses $225.8 billion yearly.
Luckily, there are ways to improve employee well-being and lower absenteeism. Start with employee provided snacks and meals. Provide balanced foods as a reward or incentive.
Rather than having a pizza party, consider healthy alternatives like a salad bar.
Creating an exercise room in the workplace is another good way to foster improved fitness. Even simple gym equipment — like dumbbells, yoga mats, and exercise balls — can encourage employees to take the time to workout.
Be sure to offer breaks during the day beyond a lunch break for activity. Don’t forget to install a shower so employees can freshen up after their workout too.
Keep in mind, mental wellness is just as important as physical health. The World Health Organization reports that depression is a major cause of disability.
Mental health programs can include education for employees and their families and mental health reviews.
Training management and employees to spot potential issues can help reduce problems. Suicide prevention programs are also a wise addition as mental health support.
Sleep is another vital part of living a healthy life. It’s important to get enough sleep in order to concentrate and be productive. You may want to offer “nap rooms” to recharge.
Google went a different route for sleep health and installed sleep pods. These high-tech beds have a Pac-Man-like shell that covers the head and chest, enabling employees to block out light.
They also have built-in speakers for those who prefer to fall asleep to relaxing music. Helping your employees relax can help boost productivity over time.
Improved Employee Retention
Improving employee retention requires a multifaceted approach that addresses the diverse needs of employees.
By prioritizing retention, companies can create a fun work environment that fosters loyalty, engagement, and satisfaction.
Investing in employee well-being and creating a culture of support can result in significant benefits for both employees and employers alike.
By valuing and prioritizing the needs of employees, companies can cultivate a motivated workforce that drives organizational success.
