Wednesday, March 20, 2019

Subtle Employee Retention Tactics

Companies uses a multitude of subtle tactics designed to retain employees. These are by no means secrets but they may not be obvious to some. I’ve identified a few for you below:
  • Insurances. Dental/Vision/Medical … insurances, which you pay part of in most cases, are an obvious hook for employee retention.
  • RRSP/401K. The RRSP/401K offering from companies varies but it’s another way for companies to entice new-comer and retain older ones.
  • Seniority. Senior resources may have a more advantageous parking spot, take priority when it comes to taking vacations or get first dibs on incoming projects.
  • Raises. Small raises, every year, is another way to keep employees around for longer.
  • Additional Vacation Days. Some companies will give additional vacation days based on the years you’ve worked for them.
  • Severance package. A severance package is basically money the company gives you when you leave. Some companies, for example, will give a month’s pay per year you’ve worked for them. So if you decide to quit (or you got a layoff), after 10 years, you get 10 months pay from the company.
  • Work from Home. Working from home can also be a way to retain employees. This can be even more appealing with employees that have kids.
  • Social Activities/Employee Moral. Paid company event such as Bowling, Paintball or night at the bar, which are aimed at keeping the moral of the employees high, are also ways to keep the employees around for longer.
  • Bonus. Bonuses, in all of it’s form, are also ways to keep the employees around. This also help motivate the employee to accomplish more. It can be in the form of “Employee of the Month”, extra vacation, money, miscs gifts ...etc

What other subtle tactics have you noticed in the workplace? Obviously, it is sometime not enough to keep employees but it’s not difficult to know why they were put in place.

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