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3 Tips For Managers To Boost Employee Retention In 2021

Group Insurance

Hiring new employees is a costly affair. You have to onboard someone new, train them, accommodate them in the work culture and then, in the subsequent months – provided everything went well – the new employees start performing at peak. 

It takes a lot of time for a new team member to match the performance of an employee who has been in the company for a long time. This translates into financial leakages for the organization. This is why it’s always a better idea to focus on and ensure higher employee retention. It’s cost-effective, it’s financially beneficial and, most importantly, the old employees shape a culture that enables growth and prosperity for the organization.

But, of course, retaining employees is easier said than done.

Here are three simple tips though that will help boost your employee retention:

1. Offer remote working option

 We’re in 2021. On the backdrop of a pandemic, a large section of the corporate world is working from home. Even when we get back to the ‘pre-COVID’ level, the remote working culture will remain in effect for many organizations. Keep up with this shift. Unless your employees “have to be” in the office premises, offer them the option to work remotely. Don’t force them to be present at the office. 

2. Invest in group health insurance

Offering insurance to employees is now mandatory. But the key here is to invest in a good business group health insurance that provides wide coverage to the employees, as well as, preferably, their direct family members. Connect with an insurance broker, get their help in comparing different group health insurance plans of different insurers, and pick one plan that optimally maps to your employees’ preference and provides them sufficient health coverage.

3. Get to know employees’ goals and aspirations

 Yes, they are working in your organization. They don’t run this business. They have their own goals and aspirations. So, if you want them to care about your company’s goals, you should care about their goals as well. Support them in their ambitions. Actively invest in their learning. Talk to them and understand in which career direction they want to steer towards. Help them move in that direction. 

These are three simple and highly effective tips to improve your employee retention. Execute them and your existing employees wouldn’t want to leave the company. 

So, take the first step today and provide your employees the reason to stay with the company.


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Location: New Delhi, Delhi, India

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