A company’s ability to keep their employees gives them the competitive edge, especially in a tight hiring market where businesses compete to recruit the best of the best and may try recruiting current employees. While businesses recognize the importance of employee perks and benefits, many feel the financial strains of such initiatives in the face of the global pandemic, it is important to re-implement these initiatives. 

Companies in Myanmar, both local companies and international organizations should take pre-emptive measures to ensure your talented and valuable employees remain once the market picks up again.

How can employers continue to nurture employee retention during and post-pandemic as employees begin to explore other options?

1. Mentorship programs

Employees often leave when they feel they have no progression within the company, or if they are feeling unchallenged or when they feel they are not being valued. 

A mentorship program where an employee is paired with a more senior employee will enable them to learn new skills or improve their current skills, and will help create an environment of learning and teamwork, and keeps the employee engaged. This will also ensure that employees don’t feel disconnected from the team and the organization when working from home.

2. Continuous feedback on performance

Employees often feel they are not heard by their team leads or supervisors. It is important for leaders to have weekly check-ins and set clear goals and KPIs for their team members, and provide timely feedback on their performance. This will help employees feel engaged and valued.

3. Recognition and rewards systems

Relating to providing feedback on performance, employers and leaders should reward employees who meet their goals. This will keep employees motivated and they will feel accomplished, and will also feel their hard work and efforts are actually being recognized and appreciated. 

4. Communication

While it sounds like a simple task, employers and leaders often overlook the importance of frequent communication with employees. Good workplace communication ensures employees feel engaged, connected, and still part of the team. This has been the biggest challenge when organizations have switched to working from home. The feelings of disconnect and being unvalued can cause anxiety and stress to employees, causing them to feel dissatisfied with their place within the company, and therefore, causing them to explore other opportunities. 

The 4 employee retention strategies outlined above are just some simple ways to help increase your employee satisfaction. It is important to frequently re-evaluate and measure the effectiveness of these efforts. Employers should also keep updated with marketing trends on salaries and benefits to remain competitive.