Strategies to Increase Retention
An effective employee-morale management strategy is a comprehensive plan that organizations develop and implement to foster increased morale, reduce employee churn, increase retention, and improve employee engagement. It must be a well-designed, balanced strategy that coordinates all elements of the organization to accomplish these goals. The strategy should include a long-term vision, a short-term plan, and an assessment of the condition of the organization’s current morale, engagement, productivity, knowledge base, and other factors. These factors may change from time to time in an organization due to internal and external factors. However, it is important to maintain and align the key performance indicators (KPIs) of the organization’s management and performance management framework, as well as employee quality benchmarks, to benchmarking purposes.
There are a variety of ways to provide value to employees through a comprehensive strategy that includes the four general strategies of increasing staff productivity, improving quality of work, increasing employee retention rates, and increasing employee motivation. The first strategy is to provide the employees with opportunities to increase their skill sets. They should be able to learn and perform on a regular basis. Opportunities for learning should be given when and where the employees can apply their acquired skills. When learning is promoted, employees will feel accomplished and proud of their accomplishments.
The second strategy is to provide value to customers. To retain customers, organizations must continuously show them that they are willing to provide quality products and services and that they are committed to doing so. If they are continuously exposed to the “I” word, customers will tend to develop the “I’m sold” persona, which can increase retention. Organizations should take steps to build a customer base or offer special deals and discounts to retain existing customers.
The third strategy to increase retention is to develop customer loyalty. People who remain loyal will be more likely to purchase from an organization than one who is considered less loyal. Therefore, they will be more likely to buy from your company than someone who considers themselves to be very loyal to another company. Loyalty to a customer extends to using the same organization’s products and services when they need them. Organizations should ensure that customer retention begins at the user level by promoting customer onboarding.
The fourth strategy to increase retention is to make sure that the best resources are in place to train new and existing employees. Employees who have access to training and development opportunities are far more likely to retain users because these employees know what they are doing and how to do it. Therefore, the best way to increase retention begins with onboarding.
Customers expect organizations to provide customer satisfaction and the best ways to increase retention are to meet these expectations. Satisfied customers can easily talk to other dissatisfied customers if they are already sold or to an affiliate who is promoting your product. Therefore, organizations should promote customer satisfaction so that they are not losing potential buyers. Additionally, customer satisfaction promotes retention because satisfied employees become more engaged and loyal to the company.
The fifth strategy to increase retention is to implement effective customer relationship management solutions. Effective customer relationship management is designed to help your organization enhance its customer base through the creation of a successful customer base. Customer relationship management solutions include all of the elements needed to improve customer service, such as marketing campaigns, customer satisfaction surveys, and customer information collection. This ensures that your organization gets to the top of the market for its target customers.
Finally, the sixth strategy to increase retention is to implement social media strategies. Most businesses use social media to connect with their target audience. For example, the top social media sites for businesses are Facebook, Twitter, Pinterest, Google+ and LinkedIn. Facebook, Twitter and LinkedIn allow users to post comments, create a profile and connect with others in their industry. Pinterest, Google+ allow users to share pictures, notes, recipes with their friends.