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Employee Retention Tips

Posted By Stephanie Schwartz, Nationwide Mutual Insurance, Wednesday, September 20, 2017
Updated: Thursday, July 27, 2017

Retaining Great Employees

Some companies offer competitive compensation and hope it’s enough to keep workers on board. The truth is, it’s only one way out of many. Nationwide®, ranked as a FORTUNE Best Company to Work For®, is proud of the large number of long-tenured employees at all levels of the business. Here are four ways we’ve found to be effective in keeping great people around.

Ongoing development

Most people would prefer a career as opposed to “just a job”. Wouldn’t you? Help your associates set goals for advancement, and consider investing in their professional development and training. You may find that their new-found skills can help your company grow in unexpected ways as well.

Work/life balance

Still stuck in the belief that 9-5 is the only way to go? A good work/life balance can help employees feel more in control of their working life, increasing productivity and lowering absenteeism. Flexible work hours, telecommuting or the occasional remote work day can do wonders for employee morale, and happy employees are employees that stay with you.

Special recognition

Who doesn’t love to be rewarded for a job well done? A simple “thank you” or a small bonus can go a long way toward making employees feel valued. Recognize your employees sincerely and often and they’ll likely reward you with loyalty.

Benefits that matter

Of course, benefits can be expensive, but they’re an important way to show you care about your employees’ health and financial well-being. Retirement plans are one type of benefit you can offer, but if you don’t have the resources to offer an employer-sponsored plan, you have options. You can share information, for example, about ways employees can save on their own. Think something new like Guaranteed Retirement Income from Nationwide®. It’s a type of annuity that lets your employees lock in retirement income for the rest of their lives with a minimum contribution of just $10 a month. There’s no cost to you and nothing to manage – Nationwide does all the work.  

Employees are assets that can be expensive to replace, and the cost of high employee turnover can be significant for small businesses. Take time now to review your employee retention practices and see if there’s room to improve. Your bottom line and your employees will thank you for it.


 

Guarantees are subject to the claims paying ability of Nationwide Life Insurance Company.

Fixed annuities are contracts purchased from a life insurance company. They are designed for long-term retirement goals. Withdrawals are subject to income tax and withdrawals before age 59 ½ may be subject to a 10% tax penalty. Annuities are issued by Nationwide Life Insurance Company, Columbus OH.

Nationwide, the Nationwide N and Eagle, Nationwide is on your side, Guaranteed Retirement Income from Nationwide, and other marks displayed in this message are service marks of Nationwide Mutual Insurance Company and/or its affiliates, unless otherwise disclosed. © 2017 Nationwide.

AAM-0459AO (06/17)

Tags:  Employee Benefits  Retirement 

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