Be a ‘Great Retainer’! Improve employee loyalty by tackling these 5 key areas

Be A ‘Great Retainer’! Improve Employee Loyalty By Tackling These 5 Key Areas

Every employee who feels happy, healthy, and valued at their place of work will likely want to stay there. Thankfully, businesses have plenty of tools at their disposal to cultivate such an environment.

In this blog post, we’ve provided a breakdown of the five key areas that employers need to address if they want to improve employee loyalty within their company.

Need help finding the best employee benefits for your business without breaking the budget? Contact our friendly team of brokers at [email protected] or click on the bottom right chatbox for FREE one-to-one support.

 

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Health and Wellbeing

Addressing the health and wellbeing of your staff is a vital step towards better employee engagement, reduced sickness absence, higher productivity levels, and (you guessed it) employee loyalty.

In the wake of the pandemic, and with the cost-of-living crisis firmly settling in, health is now a priority. Nine in 10 employees place health as their top life priority, a consideration which includes both personal and family health.

It’s one of the best ways of demonstrating you are an organisation that cares for staff and are willing to go beyond the pay packet to provide support.

Here are some ways to address employee loyalty through health and wellbeing:

 

Rewards and Lifestyle

Another way to improve employee loyalty is by providing extra rewards for their efforts and contributions, and by supporting their personal needs and lifestyle.

Eight in 10 employees said being able to work flexibly would significantly boost their work/life balance. Addressing the needs of employees not only at work but also in their personal lives, shows you are a company that cares about their lives. Who wouldn’t want to work for a business like that?

Ways to address employee loyalty through rewards and lifestyle include:

  • Retirement benefits e.g., big pension contributions/financial planning support
  • Remote working options
  • Flexible working hours
  • Extra holiday
  • Parental and care leave/support options
  • Travel expenses covered
  • Employee discounts/voucher schemes
  • Bonuses e.g., for hitting targets/providing positive workplace presence, etc
  • Cycle-to-work scheme
  • Gym discounts/fitness classes
  • Pet-friendly workspaces

 

Protection

Health is not the only aspect of employee wellbeing that boosts loyalty when protected. Covering employees, and their families, against loss of earnings caused by suffering from serious illnesses, injuries, and death also improves staff loyalty.

By putting such policies in place, staff will have peace of mind knowing the company they work for has their back.

Ways to improve employee loyalty through protection policies include:

 

Need one-to-one advice about employee benefits for your small business? Contact our team of friendly experts for a FREE consultation and FREE quotes.

 

Career Progression and Training

Another easy way to improve employee loyalty is by supporting their personal career progression and investing in their skills. In turn, employees are likely to work harder, increase their productivity levels, and perhaps gain promotions within the company.

Here are some ways to address employee loyalty via career progression and training opportunities:

  • Free educational courses e.g., at Hooray, we offer the opportunity to study for your CII qualification!
  • Personal development days
  • External training courses
  • Networking events
  • 1-2-1 coaching/meetings
  • Shadowing colleagues

 

Working environment

Finally, your work environment needs to be a supportive, welcoming atmosphere which allows people to be at their best. Even the smallest of changes can go a long way in creating a more positive workplace atmosphere – and they really don’t have to cost the world to achieve.

Here are some ways to address employee loyalty through small workplace changes:

  • Employee recognition platforms for staff to interact with one another
  • Positive leadership & clear communication from the top
  • Creating a ‘thank you’ culture e.g., through weekly group meetings
  • Sharing customer reviews
  • Staff feedback via employee forums, regular 1-2-1’s
  • Company parties
  • Birthday celebrations
  • Early Friday finishes
  • Extra paid holiday
  • Birthday as paid holiday
  • Team lunches
  • Company away days

 

Need help improving staff loyalty?

Seventy-eight per cent of employees said they were consulted about their employee benefits, according to our survey last year. This is exactly what any good business should do!

As an employee benefits broker for SMEs and start-ups, we advise companies on how best to support staff through workplace perks.  We understand that what works best for your business will depend on the demographics of your team, your business goals, and the budgetary constraints you’re working within.

The Hooray Health & Protection team is here to find out more about your business and ensure your employee benefits fit perfectly with your staff and company needs – to drive staff retention AND attract the brightest talent to your business.

Call us on 01274 222805 or click on the bottom right chatbox for straightforward advice and the best FREE quotes.

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