As businesses realize that human resources are perhaps the most valuable of them all, more and more of them prioritize employee retention today. Whatever the state of the business landscape is, keeping your employees happy and retaining them matters. People who stay with your organization know it well and are capable of delivering greater value rather than those who have been around for a short while. Similarly, this mindset saves time, money, and effort for recruiting and training new talent. The importance of employee retention is even more during a crisis, like the one almost every business is facing right now. If you are thinking of ways to boost retention during the COVID-19 situation, technology can take you in the right direction. Here are some tech innovations that can help.
Communication tools- Maintain business as usual
Even though things are anything but usual right now, you need to keep things going to maintain the trust and comfort level of your people. Seamless communication is the key to operating as normally as possible. And it ensures business continuity as well. Keep up the regular meetings with your team members with smart communication tools in place. Even if these are virtual interactions, being in regular touch instills confidence in the team. The biggest concern for employees right now is job security. Amid the economic uncertainty and rampant pay cuts and job losses, they are bound to feel the pressure. Reassure them that there is nothing to be worried about and be willing to hear them out. It is best to schedule individual interactions so that they can discuss their worries. Right now, being there for your staff is vital and it impacts long-term retention as well.
E-learning apps-Go the extra mile with development
One good reason for people to stay with your organization is your willingness to invest in them. While training people is a strong retention factor, it also brings benefits to your business. Employees with stronger skills and knowledge are bound to be more productive and efficient. Right now, you can go the extra mile with ongoing training that focuses on their long-term personal and professional development. So you can have special e-learning applications and programs that focus on skill development. While these could be regular skills, imparting training on remote work makes sense because it can help people to perform better in the crisis.
HR automation solution-Streamline and simplify HR processes
As businesses have moved to a remote model, things are getting tough on the HR front. There is a lot to manage and any inefficiency doesn’t go well with the employees who expect the best from the HR team. Look for an employee onboarding solution because the first impression on a new hire can maximize employee lifetime value and have a significant impact on the retention rates. Further, it makes sense to automate workflows and an advanced HR software platform can help you empower your business. It can assist the managers with aspects like scheduling, payroll, leave management, performance appraisal and more. Overall, the employee experience can be improved, which means that they are likely to stay with your organization.
Project management software-Set clear expectations
Another effective technology solution that can boost employee retention right now and otherwise as well as a project management tool. It enables team members to plan tasks, track performance and collaborate with each other throughout the project lifecycles. Obviously, this translates into greater effectiveness and efficiency as they are better aligned with the business objectives. Also, they have clarity in terms of direction and expectations, which makes them more confident and comfortable even during a crisis. As a result, they are able to do their best and feel happy about being a part of the organization. Surely, this reflects in the form of a high retention rate for your business.
Survey tools-Get reliable and genuine feedback
Knowing what your employees feel about the company and making conscious efforts to address their challenges is a good way to retain them. This becomes all the more important during a crisis when employees face more challenges than you may know about. The best way to gather reliable and genuine feedback is by investing in a survey tool. Having one in place shows your intention to make things better for the employees, which boosts their morale and gives them a good reason to stay. Apart from survey tools, you can go one step further with employee engagement apps that make them feel connected and closer to the organization.
While these technologies can be boon for employee retention during a tough phase, they can serve as smart investments in the long run. In fact, they can empower your business to retain the best talent forever!