Many businesses, industries and sectors across the world struggle with employee retention, and it has become necessary to re-evaluate the relationship between employers and their staff members to try and reverse the trend. No matter how the broader community views its importance, motivational incentives to work hard and improve are crucial in any position. A direct correlation can be found between employee satisfaction and retention and those effects, which include:

• Engaging training methods that provide career challenges and aid advancement
• Opportunities to advance
• Competitive wages
• Benefits
• Supportive work environments

Other factors affecting employee satisfaction and retention

• Company values and ethical practices

As environmental concerns grow more prevalent in the daily lives of so many individuals, all successful, ambitious companies should evaluate their products and services and assess whether their impact on the environment can be lessened or eliminated. Existing and potential workers are not immune to opinions and outside influences, and some will feel pressured to follow their principles if a company is in direct opposition to them and shows no sign of recognizing the issue.

• Insurance policies

As part of the benefits package offered to any employee, insurance policies, particularly health and dental, can foster significant employee loyalty and retention. Travel insurance is also essential if employees are required to travel for their work. Providing travel insurance for employees engaged in non-work activities and trips may even be feasible. It may seem outlandish to suggest that a company offers travel insurance for its employees on their annual holiday, but consider the levels of appreciation and loyalty that can be garnered through considerate touches like that.

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