Darius Fisher, the founder and president of online reputation management firm Status Labs has offered some tips for business owners to retain employees. Employee turnover can cost businesses significant amounts of money and lead to loss of production. Fisher cities a source at ERE Media which states that it can cost up to 50% of the annual salary to replace an employee at an entry level position and up to 150% of salary for an employee at a mid level position within a company.
It therefore, pays for companies to minimize employee turnover. One of Darius Fisher’s firm beliefs is that job satisfaction and employee turnover is intricately linked together. One of the best ways to keep employees happy at work is to create incentives for reaching goals. Fisher routinely rewards employees for meeting goals at his company with things such as a paid vacation abroad, technology gadgets or concert passes. Giving treats to your employees will make them more satisfied and motivated at work states Fisher.
Another way to reduce employee turnover is to offer praise for employee accomplishments. Darius Fisher is big on this. He described how if an employee closed a major deal with a client, or achieved a major public relations breakthrough then he would congratulate the employee and let the entire company know of his or her achievement. Employees enjoy getting praise, and Fisher isn’t shy about giving it out at Status Labs.
Keeping employees informed of what it happening around the company is another effective strategy to retain employees. If your employees don’t know whats going on in the company and feel like they are not being told of the happenings, they will be more likely to leave. Make it a habit to keep employees up to date on company events, news and new hires describes Darius Fisher.
Mr. Fisher has recently been recognized as one of the top 50 leading innovators in the public relations and digital marketing field. He is a member of the Young Entrepreneur Council and regularly contributes to its community voice outreach program. Darius Fisher co-founded Status Labs in 2012.
Status Labs has quickly become a globally renowned company thanks to Darius Fisher’s innovative techniques towards public relations and digital marketing. He has combined his experience in politics and copy writing and fused them with technological innovations to create one of the world’s leading digital management firms. Fisher works with clients across the globe in fields as diverse as sports, politics, entertainment and finance.