Improving Employee Retention: Companies Getting it Right

World in a Hand

With leaders like Google paving the way for progress we’re enjoying watch companies become more inventive in order to make the most of their employees and recruitment efforts. We’re in a candidate driven market and as such, competition is tight for top talent. Let’s take a look at how companies are showing employees their best side.

AXA’s Great Global Adventure

Although lucrative, the insurance industry isn’t one that springs to mind as the most exciting! The stereotype shouldn’t stop companies forging new ways to make their industry more enticing for talent though. And AXA certainly isn’t taking any prisoners in this regard!

The Great Global Adventure is an all-expenses paid world travel experience that includes two top internships with international AXA teams and a volunteering opportunity. The lucky victor spends six weeks travelling the world, experiencing once in a lifetime opportunities before starting their full time career with AXA.

We don’t even know where to begin with our praise for this initiative! The winner records their journey via social media, creating up to date and meaningful brand awareness. By being afforded the opportunity to travel the world, the winner feels truly valued and part of a bigger brand culture before they’ve even started work. And we bet applications to work for AXA aren’t short either. Even though there’s only one prize, the company’s ethos is sure to filter through to other initiatives that make AXA a desirable place to work and one with, we suspect, great employee retention.

Toys and Sentiment

Entrepreneur reported on companies that do something on a smaller scale but by no means less valuable to show their gratitude to employees. Red Velvet Events hand out a troll during their weekly staff meeting to an employee who has completed great work. That person then adds an accessory to the troll, which next week gets passed on to someone else. It’s quirky, but you can’t deny it shows buckets of personality.

Another company rewards risk taking, even those that don’t pay off. Tata has a “Dare to Try” award which it gives to employees to recognise their effort and entrepreneurial spirit.

Offers website Groupon gives a customizable green Adidas jacket for every work anniversary of its employees and Influence & Co awards employee achievements with a large Boxing style belt of achievement.

There’s no excuse not to be inventive and even small measures make a measurable difference!

FitBit Fun

Lastly, Mashable reported on some great initiatives using the popular wearable Fitbit with its program Fitbit Wellness. Workout Wednesdays, quarterly step challenges and biometric screenings all constitute reward schemes to keep employees engaged, incentivised, and retained by their organisations.

So whether you wish to spend more or spend less, employee retention is an exciting area of recruitment that’s growing fast and ready for more innovative ideas.