6 Strategies for Improving Employee Retention

Sticky note gride of people with the Employee Retention in the middle.

Employee retention is a critical challenge for home furnishings retailers. You rely on the skills and knowledge of your employees to provide quality customer service, maintain strong relationships with suppliers, and stay on top of industry trends. However, high turnover rates can disrupt operations, lead to declining customer satisfaction, and ultimately hurt the bottom line. Therefore, it’s vital for you to implement strategies that keep talented employees engaged, appreciated, and satisfied.

Emphasize Company Culture

Company culture is the heart and soul of your business, and it’s essential to make sure that employees believe in and identify with your company’s culture. Consider what values are necessary for your business, ensure they are synchronized with your business practices, and develop an environment where employees can thrive.

For example, if your business values teamwork, create opportunities for employees to work collaboratively on projects. If you value creativity, encourage employees to share ideas and take risks. Sharing ideas will help to foster a positive work environment, makes employees feel more connected to their work, and reduces the likelihood of turnover.

Foster Employee Engagement

Engaging employees can create a sense of ownership in their positions, better alignment with company culture, and lead to a more engaged, happy, and committed team. To foster employee engagement, you can conduct regular meetings or roundtables where employees can voice their opinions, provide feedback on company practices, and make recommendations. You can also encourage employees to contribute to the social media presence of your company by allowing them to share stories and experiences about their work with customers.

Recognize and Appreciate Employees

One of the most fundamental elements of employee retention is employee recognition and appreciation. Acknowledging employees for their hard work and recognizing their achievements by offering bonuses, promotions, or paid time off is essential. Small tokens like handwritten thank you notes, small gifts, or a company-wide announcement help to show employees how much their hard work is valued.

Offer Benefits

Benefits are another way of showing your employees that you care about them. Offer benefits such as healthcare paid vacation days, and flexible work arrangements, which will attract and retain top performers in your industry, especially millennial workers.

Work-Life Balance

Home furnishings retailers should provide employees with a healthy work-life balance. Recognizing employees’ lives outside of work is essential, and the company should offer workplace flexibility. Work-life balance can include telecommuting and flexible working hours to accommodate family and personal needs.

Employee Development

Helping employees grow in their roles helps them to feel valued, and it’s also vital for their career advancement. Home furnishings retailers should create an employee development program to encourage and support employee advancement to higher positions within the company. Development increases employee engagement and loyalty and opens up opportunities for staff development across the organization.

Conclusion

You can handle employee retention by building a positive company culture, ensuring employee engagement, recognition, health and wellness benefits, effective work-life balance, and professional development opportunities. By implementing these strategies, your home furnishings business can retain top performers, reduce turnover, and lead your company to long-term success. 

 

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The Home Furnishings Association is proud to serve the industry with the latest education, and information that impacts your business. Learn more about membership.

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