5 Strategies for Businesses to Increase Employee Retention

In the ever changing Pakistani corporate industry, employees now demand top notch jobs and benefits, while employers look to hire the best of the best. If you aren’t making your top workers happy, another company may grab their attention and recruit them as soon as possible. To make sure the chances of that are minimized, here are five tips that will help you make sure your employees are around for years to come.

1. Create the Right Culture

Your first and foremost task should be finding employees who will fit right into the culture you are trying to create within the organization. They should feel a strong bond with your company and your culture should be attractive enough to hire the right ones. Whether the workplace has a formal outlook or a very casual one, the employees should feel at home.

Businesses can be hurt just as much as employees by the costs associated with employee turnover

2. Avoid Micromanaging

If you’re hiring talented individuals, there’s no need to manage all the tasks yourself. Allowing your employees to participate in projects that they have not before will help them grow as employees and as individuals. Whether they end up succeeding or failing, they’ll learn either way.

3. Introduce Unique Perks

Another way organizations can retain their employees is by introducing perks with the said job. This will not only boost up the morale of the employees, but the workplace will also have a healthy environment where employees work stress free, knowing they have a set amount of perks to enjoy. Entertainment should be made mandatory and activities should commence on a monthly basis.

Some of the findings of an Employee Retention Survey conducted in 2015, from the US

4. Offer Them Benefits

Oftentimes, what organizations lack is proper job benefits allotted to the employees. The benefits vary from designation to designation, but should always be a part of the job. Credit Cards, Personal Loans, Auto & Home Finance options should all be readily available for the employees, since these are some of the benefits that can make a huge difference for them.

5. Pay Them On Time

The biggest issue employer’s face to this day is the salary processes. One way to resolve these issues is to go for a customized banking solution. Faysal Bank’s PayCheqPlus is a convenient option in this regard. For starters, it offers employer’s access to Cash Link, FBL’s online banking portal to make real-time disbursement to employees from their premises at their convenience. PayCheqPlus also provides Option to open payroll accounts of their employees by simply uploadingbulk payroll file without any hassle of branch visit.In addition to host of free services on employees accounts, they can avail a Consumer Finance Products such as Credit Cards, Personal Loans, Auto & Home Finance, and more.

For more information on FaysalPayCheqPlus, log on to https://www.faysalbank.com/personal/deposit-products/faysal-paycheq-plus/

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