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Employee Retention Resolutions For 2021

March 15, 2021 by New City Insurance

co workers happy where they work and their employee retentionThe start of the new year provides organizations ample opportunity to improve their business. Start the year off right by resolving to boost employee retention. In 2019, the national average turnover rate was 36.4 percent, according to the Bureau of Labor Statistics. There are many reasons for high employee turnover, such as being overworked, lack of growth, a minimal opportunity for decision-making, lack of freedom and toxic company culture. Increasing employee retention can save businesses money and help develop a team of reliable talent.
Here are some ways to improve employee retention in 2021:

1. Prioritize Onboarding

New hires should be set up for success from the start of their employment. Focus on providing new employees with ample training so that they are comfortable and confident in their roles. Aim to make employment an engaging and positive experience to prevent employees from feeling overwhelmed and quitting in the first few weeks.

2. Offer a Mentorship Program

group of co-workers who like their companies employee retentionThe benefits of a mentorship program can be long-lasting. Consider pairing a new employee with a long-time staff member who will provide guidance and act as a sounding board for any concerns or questions the new employee may have during the first month. This can help new employees learn the ropes quicker.

3. Optimize Employee Benefits

One of the first things that a job candidate will look at when applying for jobs is the benefits being offered. Existing employees also depend on benefits to maintain good health and wellness. Build a comprehensive employee benefits package that includes a range of key benefits, such as health insurance, retirement plans, life insurance and disability insurance. Also offer other great benefits, such as paid time off and sick days.

4. Communicate Effectively

It is important to keep the lines of communication open between employees and management. When an employee has a problem that requires input from a higher-up, they want to know that they can talk to management without fear of getting ignored. Management should connect with each staff member regularly.

5. Provide Flexibility

business partners talking about their employee retentionToday, families are busier than ever and home life often gets in normal work schedules. Provide employees some flexibility with their schedules to take care of things at home and be more productive in the office. There is no need to maintain the standard 9-to-5 five days a week. Create a policy that works for the entire team.

6. Recognize Hard Work

Every employee wants to feel appreciated for a job well done. Make it a habit to directly thank employees and occasionally provide rewards, whether it is a gift card or an extra day off from work. Many companies also set up formal reward systems with incentives that encourage higher productivity.

Start Planning with Help from New City Insurance

Need help building an attractive benefits package that includes retirement plans, wellness plans and other perks? Reach out to the insurance professionals at New City Insurance today to get started.

Filed Under: HR

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Google Rating
4.9
New City Insurance
New City Insurance
4.9
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
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