Effective Employee Retention Strategies: Getting Employees to Stay 20+ Years

Employee retention is one of the biggest challenges that employers face. It can be costly and time-consuming to find and train new employees, so do what you can to keep the ones you have?

At Baird Brothers Fine Hardwoods, we have found several effective employee retention strategies over the years that you can implement to find new employees — and keep current employees happy!

What Is Employee Retention?

Employee retention is more than just the number of employees at your company – it’s the reason why you have that number of employees. Good employee retention means that your employees are happy and aren’t looking for a new job in their free time. If people are coming and going from your company, it might be time to start measuring and evaluating employee satisfaction.

How to Measure Employee Satisfaction

It can feel impossible to put a tangible number to something like “employee satisfaction.” But it’s simple: do employees want to stick around, or is your onboarding process a revolving door of new hires that don’t last?

The most obvious way to measure employee satisfaction is through employee turnover rate. If you have a high turnover rate, meaning employees leave frequently (and more often than you hire), then it is clear that there is something wrong with the employee experience.

More on Employee Longevity

Second-generation owner and head of human resources at Baird Brothers Fine Hardwoods, Lori Baird, recently stopped by Studio 3B to talk about employee satisfaction.

With recent growth (and the retirement of some very long-time employees), Baird Brothers is in the middle of an active hiring phase throughout multiple departments!

At Baird Brothers, we’re extremely proud of our employee retention rate. (Many employees stay at Baird Brothers for decades!) And a great deal of our recruiting is done through word of mouth from current employees!

Watch as Lori discusses the strategies that Baird Brothers employs to keep their team members happy.

Watch Here:

Employee Retention Strategies

The best employee retention strategies ensure that current employees are happy with their job and the organization as a whole. Learn more about some of the ways you can increase retention and employee satisfaction with elements that have worked at Baird Brothers.

Effective HR

Employee retention begins and ends with human resources — literally. HR is responsible for the onboarding process, the offboarding process and everything in between.

HR’s role is to be a listening ear for employees, to be their champion and their support system for questions or concerns that arise. Human resources should always focus on the employee, making sure they feel acknowledged.

Finding top talent can be challenging, but it’s even harder to keep once you have it. An effective HR team lets employees know they have someone looking out for them and their best interests — beyond the hiring process.

Benefits

One of the most obvious parts of employee satisfaction includes the benefits package. The value of these perks is different for everyone. Some may have healthcare and parental leave as their non-negotiable benefits, while others look for competitive salaries, reimbursement rates and flexible schedules. Whatever the concern may be, employee benefits not only keep employees happy but entice new employees to apply.

The perks of working full-time at Baird Brothers include 401k match, learning opportunities for new skills, career advancement opportunities, a family-oriented workplace culture, paid vacation time and healthcare.

Professional Development Opportunities

A lot of workers like to know that professional development opportunities are a possibility in their future with the company. Having opportunities for career advancement helps employees stick around and work hard to move up in the ladder (or adjust their career paths).

These development opportunities can be through mentorships, learning opportunities or the ability to develop new skills. The bottom line is that employees who are introduced to multiple aspects of the company may want to stick around and try new departments to prevent burnout or boredom.

Treating Team Members Like Family

Teamwork is crucial to the success of a company. When employees feel like part of a team, they feel closely connected to each other and the organization as a whole. Treating employees like part of the family allows them to feel even more connected to you and your business.

Family has been embedded in Baird Brothers’ company culture since its founding in 1960 by three brothers. This family focus has been the foundation of the company culture since the beginning. At Baird Brothers, employees aren’t seen as a number; they’re seen as a part of the family. This basis helps employees feel appreciated — with hard work as a result.

Importance of Workplace Culture

The work environment is directly responsible for retaining current employees. An employee can love their work (or even their pay) but leave if there is a poor work environment. Workplace culture can make or break a company. A toxic work environment can result in a great resignation of employees who’ve had enough.

Make sure your employees know they are appreciated and respected, and they’ll stay for years!

Healthy Work-Life Balance

Employee well-being is the most important part of retaining employees. A healthy work-life balance lets employees focus on their job while not letting it take over their lives completely.

Without an emphasis on employee wellness, burnout is imminent. Let your employees take time to focus on their mental health, and you’ll have happier, more productive employees during work hours.

Employee Recognition

Employee appreciation is one of the best ways to get team members to stay. When employees are appreciated and recognized for their hard work, it encourages them to continue to put in the effort — and inspires others to do the same.

Employee recognition programs and events are easy ways to make sure employees know they’re appreciated for everything they do.

Employee Feedback

Implementing effective employee retention strategies relies on what the employee thinks.

It’s important to regularly collect employee feedback on job satisfaction, which could include a multitude of items. Do employees enjoy their work? Are they happy with their pay? Does the company culture allow for a healthy work-life balance? Is employee morale high?

Employee surveys are a great way to get valuable feedback — But feedback only works by implementing strategies to correct concerns. Show employees that you’re listening. Feedback should be the main driver of new initiatives to entice and keep employees.

Exit Interviews

While it’s important to get feedback from current employees, it’s just as important to talk to departing employees, too. Exit interviews should focus on why that employee decided to leave. Exit interviews are not intended to get them to stay, but instead to see what you can do as a company to keep employees in the shop and off the job market.

Apply to Work at Baird Brothers!

Employee satisfaction and retention are crucial for any business. A high turnover rate can be a sign of poor employee satisfaction and should be addressed as soon as possible. Effective employee retention strategies address these issues to keep employees happy.

If, however, you’re on the hunt for a new job, we’re always looking to bring on the best of the best! Apply to work at Baird Brothers and see the difference for yourself. Submit an application, email hr@bairdbrothers.com or call 330-286-1814 to be considered for a variety of positions. We look forward to working with YOU!