Increasing retention begins with choosing the right keywords or phrases on your marketing materials. Your marketing materials must tell your story clearly so that you attract the right people to visit your website. You need to provide information that your target audience is looking for. To increase retention, you can deliver relevant and engaging content to your online customers. This approach will increase customer loyalty and, ultimately, your company’s bottom line.
To increase retention, you have to provide value through your customer retention program. The value your company provides your customer must be in alignment with their needs and goals. One way to do this is through the customer retention process, which helps provide a sense of “clarity” about what your products and services can do for your customer. The customer retention program focuses on two major strategies:
According to research by McKinsey, employers who have an effective financial wellness policy increase retention rates by 50 percent. The reason that employers have such a positive impact on employee engagement is because they increase the perceived value of the job by defining it in clear and measurable ways. In other words, employers design a job that is not only fun, interesting and challenging but also one that provides a sense of worth.
Another strategy that increases retention is through the utilization of social media and other online tools. Specifically, research shows that companies who post pictures on Facebook and Twitter are more likely to retain their current employees. Employees who regularly use social media are happier with their jobs and report higher levels of job satisfaction than their colleagues who do not use these websites, according to research by Oxford Online. Similarly, a survey conducted by AOL revealed that companies who offer Twitter access to employees are also more likely to retain their top employees. A third research study published in the Journal of Leadership and Business showed that companies who allow Twitter users to follow their company information are much more likely to retain their best employees.
Another way that employers can use the web to increase retention is by increasing participation in workforce forums and discussion boards. In a recent study co-sponsored by AT&T, Google, and Yahoo, over 300 executives from diverse companies were asked about what aspects of their businesses they would like to see improved. The majority of the participants indicated that they would like to see an increase in workplace satisfaction as well as an increase in employee engagement. The same survey also indicated that most of the executives were unaware that they already possess some of the tools to increase workplace productivity. In other words, most employers already have information and processes in place that can make them more productive. As a result, there is little that employers need to do to improve their businesses.
Finally, companies can greatly improve their employee retention rates by creating an environment where employees can thrive. Research has shown that an atmosphere of continuous stress, high anxiety, and low support can lead to a decrease in employee engagement, poor work-life balance, and poor turnover. This means that an employer cannot count on employees staying with their organization if the work-life balance is not optimal. Fortunately, there are many steps that employers can take to create a work-life balance. Taking these steps, coupled with the previously mentioned online strategies, will ensure that employees stay with their employer for the long haul.
With social media, an employer can also increase retention simply by engaging their workers in meaningful ways on a regular basis. Through various online and real world activities, an employer can engage their workforce by helping to increase their personal productivity. Consider the example of an employee’s ability to easily engage others through social media. Social media allows an individual to connect with others and learn from others in a fun, fast, and easy way. An employee can easily share information about job openings or new products that he or she can’t find out by traditional channels. Through these and other types of activities, an employer can improve the way that employees feel connected to the company.
Finally, one of the most overlooked ways to help retain employees is through workforce development. The global pandemic of aging has created numerous challenges for both employers and employees. In order to address these challenges, organizations need to develop policies that engage the entire workforce in ways that are beneficial to the business. Engaging in activities that increase productivity and help retain employees can be one of these policies.