Retention strategies that won't break the bank

How does an employer keep their best workers without offering them huge raises or spending a fortune increasing the benefits program? This piece from IT WOrld has a few useful suggestions.

The number one suggestion the writer, Joanne Sujansky, suggests is to make sure you do not misrepresent your company's culture from the first day. Too many employers make promises about the working environment in the job interview and this leads to disillusioned employees.

Keeping your employees active, challenged and engage prevents them from becoming bored. An employee without enough to do will start looking elsewhere for something more stimulating.

Another idea is to "be a good corporate citizen." As Sujanksy writes, "today's employers are finding that they have to care about more than just profits if they want to keep their employees happy. The environment, health, and safety have never been more in the spotlight, and as a result, employees want to work for companies who take these factors into consideration.

In fact, a study by the Center for Corporate Citizenship at Boston College found that 30 percent of employers say that good corporate citizenship helps them recruit and retain employees."

Among the other suggestions, the one that seems to stand out is to remember to praise and appreciate employees. Taking the time to say thank you or show some form of appreciation will go a long way toward making the good employees permanent ones.

Losing good employees and having to search and rehire new ones costs a company money. Taking steps to prevent the quality workers from leaving can result in savings for you and the corporation you have built.