At HR Coach, we value and appreciate staff retention. We also know that it's essential to provide employees with development opportunities and to keep them interested and motivated at work. Employee development and retention software is an excellent way to keep track of the development goals and career paths of employees and their current competencies. It also lets managers see a clear picture of the capabilities and knowledge levels of each individual team member.
What Is Employee Retention Software?
Employee retention software covers an extensive range of processes and software tools to help your business retain its employees. It focuses on why employees leave a company and uses that information to improve your onboarding process and encourage staff retention. Employee retention software can also help managers track employee competencies against specific requirements for their roles.
Employee retention software is designed to help businesses understand why their employees quit, including metrics such as motivation and timing. By collecting this information in one central location, HR teams can then use this to make changes and improvements that encourage employees to stay.
Even during the hiring process, managers can utilise employee retention software to find and hire the best talent, meaning a lower staff turnover further down the road. In addition, efficient HR processes with the help of HR software can help turn already qualified employees into loyal and motivated ones.
Types Of Employee Retention Programmes
There are multiple types of programmes that can help improve your employee life-cycle and boost morale. These include:
HRIS
An HR Information System (HRIS) is a software application that provides HR teams with all their employee data in one secure location. It usually includes modules for payroll, talent management and benefits administration. Most HRIS systems also come with customisable reporting.
HRIS systems are the most common platform for creating an employee retention programme as they can gather all your company information in one secure location. They also offer HR teams easy access to the complete history of every employee, including when they were hired, performance reviews, benefits, and more.
HRIS can also include customisable reporting tools that highlight areas for improvement in your company's current onboarding process. This type of programme can even help identify what point in time or event caused employees to leave your company. This targeting ability lets HR teams know what steps to take to boost employee retention.
Communication software
Communication software tools can help your staff communicate with each other more efficiently. For example, many companies implement team chat programmes that allow employees to chat with each other online securely.
These services are especially helpful if your business has several remote offices, as they give all staff members the ability to communicate with each other at any time, regardless of location.
Slack is one of the most popular of these tools, and is a great way to help your remote employees feel more connected. It also allows employees to collaborate on projects easily, regardless of location. Other popular communication tools include Skype and Google Hangouts, and platforms like Intercom can help improve communication between your customers and staff.
You should use communication software in conjunction with your HRIS to help create an accurate picture of each employee's skills, abilities, and knowledge levels. For example, it lets staff members post their questions or broadcast information such as updates on new policies publicly for all other staff to see.
This helps employees feel more connected and informed while giving managers valuable insight into what employees are struggling with at work.
Employee experience platforms
Employee experience platforms are designed to help companies make their current employees happier. They transform major business processes like onboarding, learning and development, and performance reviews, into positive experiences that employees enjoy.
These platforms encourage your employees to learn and grow, making your existing team happier. But they also help you attract top talent through great marketing and branding efforts. Additionally, they provide you with real-time analytics that show where your business is excelling and where you can make improvements.
You can use employee experience platforms to create a culture where employees want to stay at your company. Developing and implementing an employee retention programme can boost the mood and productivity of your existing team long-term, and attract new talent through great branding efforts.
Employee surveys
Employee surveys are another way to keep track of your employees' happiness, satisfaction and overall experience - they're useful whether you have 10 or 10,000 staff members. HR teams are often responsible for designing surveys, but companies can also use third-party services to collect employee feedback.
Employee surveys come in all shapes and sizes, from traditional written surveys, to quick polls sent out through your communication software. Regardless of the method you use for gathering feedback, employee surveys are an invaluable HR tool.
They give you a quick and easy way to figure out what's making your employees unhappy, and can help uncover strengths and opportunities for improvement within your business.
Employee surveys should include questions that focus on the reasons why employees quit their jobs, including those related to development and career advancement opportunities. There should also be open-ended questions that give employees space to explain what affects their moods in their current roles. This will help HR teams pinpoint the exact steps they need to take to improve employee retention. Anonymous surveys can be extremely insightful, allowing employees to freely express their thoughts without fear of reprisal.
Development/training
Development and training software helps your staff learn new skills that can be used on the job. In addition, it is a great way to increase employee retention rates, as it allows employees to become more valuable assets within your business.
This type of software often focuses on management development programmes specifically designed to increase managers' productivity and performance. Other types of software focus on professional development initiatives. These programmes are especially helpful if you have teams that perform similar jobs to one another, as they easily allow employees to share best practices and other useful information.
Employees who feel like their skills are growing within your business are more likely to stay longer than those who don't receive any form of training or development opportunities. These types of opportunities make employees feel fulfilled, which in turn makes them happier, and this happiness can be reflected within your business through higher rates of retention.
Why Use Employee Retention Tools?
Employee retention tools play a critical role in the happiness and satisfaction of your existing team. But they do more for your business than just make employees feel better. They also play a huge role in attracting top talent from outside your organisation, which will help you recruit the best new people to join your business.
These tools allow you to track and monitor important aspects of your employees' experience. For example, they help you understand what kinds of perks and benefits are most appealing to potential hires, allowing you to make adjustments as necessary.
These tools also allow you to track everything from employee satisfaction rates and service response times, to how many complaints your company receives through customer care channels like Twitter, Facebook and other social media outlets.
This is why HR teams should work closely with IT to develop the most effective tools. Together, you can use this technology to figure out what's working well within your organisation, and what areas need improvement before employees leave.
Advantages Of Employee Retention Software
Increase employee satisfaction
Employee retention software increases employee morale and reduces the number of staff turnover. Unfortunately, many businesses do not know how to prevent their employees from resigning, and this can cause serious problems for many companies. Employee retention software boosts your employee retention efforts by focusing on their satisfaction. It allows you to create a happy and positive work environment by giving opportunities for career growth.
It highlights areas of work that need improvement, and also gives employees a platform to express their issues and concerns. This software will allow you to increase your revenue by retaining your current employees, and it will enable you to minimise costs associated with hiring new employees.
Decrease employee turnover
One of the main uses of employee retention software is of course to decrease employee turnover. This turnover is expensive, and can cause many problems for companies trying to grow their businesses. If employees are constantly leaving your company, you will have to spend more time and resources finding replacement workers.
You can reduce attrition rates with effective employee retention software to highlight career growth opportunities within the organisation. This will allow employees to understand that you value them, motivating them to stay within the organisation. This in turn will allow you to save time and money since you won't have to constantly be searching for and training up new employees.
Making an active effort to reduce employee turnover rates can be a challenge for many businesses, especially if they are located in areas where the economy is struggling. However, employee retention software can help retain staff and ultimately save time and money.
Boost morale
When you're actively promoting employee retention, you are increasing your employees' morale. You can do this by highlighting career opportunities within the organisation, and through fun activities that allow employees to bond with one another. These actions will motivate your staff members and make them feel like they're a bigger part of the business.
Additionally, efforts to increase employee retention will improve productivity within your organisation. Happy employees are more productive than unhappy ones, so promoting employee retention can boost your business too.
Improve employee engagement
It's a basic fact that happy employees are more engaged in their work. Therefore, if you want to improve your company's productivity, increasing employee engagement is invaluable.
Employee engagement software is designed to help you achieve this goal by encouraging interaction between co-workers and managers. It will allow employees to voice their concerns in a safe environment, and managers can then use that information to improve the working experience for everyone.
Additionally, these software programmes allow employees to work from home, which boosts productivity and improves job satisfaction. They also have a social networking element that allows employees to network and get ideas from colleagues throughout the organisation, whether they are working remotely or not.
Improve Employee Retention With Career Monitor
If you want to improve your employee retention rates, Career Monitor is the ideal choice for you. This software will allow employees to identify their career path within the organisation and provide them with opportunities to achieve their goals. It also allows employers to track employees' development through its comprehensive reporting tools.
It's important that you provide your employees with opportunities for growth and Career Monitor will help you achieve that goal. It will give managers the insight they need to understand how their employees' careers are progressing and it also allows employers to highlight career development opportunities within the organisation.
Career Monitor software has been proven to boost productivity and it has been used by companies whose main goal is to reduce staff turnover rates. To find out more about our employee retention software, contact us today.
FAQs
What is an employee retention tool?
An employee retention tool is a piece of software that can be used to motivate employees, and you can also use it to reduce attrition rates.
Employee retention software can be used to identify where your employees are in their careers. It also lets employers who want to promote employee retention highlight career opportunities throughout the company. It comes in many forms, including software that you can use to manage your employees' development and social networking tools to foster a healthy work environment.
How do you retain employees?
Employee retention involves keeping your employees motivated and engaged. We suggest that you highlight career opportunities within the organisation, making them feel like they're a more significant part of the business, and that they can grow with it.
In addition, you should focus on motivation and engagement through fun activities that encourage employees to bond with one another. It's always important that you help your employees understand why they're a valuable part of the organisation, as this will make them feel like they have a place in the business.
Ultimately, improving employee retention is about keeping your employees happy. Therefore, we suggest that you use software to highlight career opportunities throughout the organisation, and use social networking tools to connect with your employees.
What are the 5 main drivers of employee retention?
The five key drivers of employee retention within the workplace are:
Workplace flexibility: Flexible working conditions help employees balance their work and personal lives, which in turn boosts morale. It's also common for employees working later in their careers to look for flexible working conditions. Examples of this include the ability to work from home and to set their own hours.
Career development: Every employee wants to feel like they're growing in their career, so it's important that you provide them with the tools that will allow them to achieve their goals. The ideal employee retention software should take this into account and you should use it to help employees identify their career path within the organisation.
Good manager-employee relationship: Your managers must have a strong relationship with their employees, as this will lead them to feel like they're part of the company. Encourage your managers to listen to what their employees say, and reward those who form strong bonds with their teammates. Employee retention software can help you measure this, giving you an insight into how your managers interact with their employees.
Employee benefits: Employee benefits are a great way of showing your employees that you appreciate them, so you must reward those working hard. When creating an employee retention plan, focus on benefits such as health insurance and retirement saving plans. You may also wish to offer flexible benefits, including time away from work and even sabbaticals.
Personalised employee experience: A personalised employee experience is an important part of employee engagement and it can go a long way towards keeping employees happy. Give your employees access to their personalised portal, which they can use to check their schedules and even pay invoices. Not only will this make them feel like a bigger part of the organisation, but it will also allow you to track how they're spending their time at work.