Job satisfaction demands more than just a paycheck. (Entrepreneur's Notebook).

As companies struggle to meet financial goals, many turn to forced reductions as a way to cut expenses. With the emphasis on layoffs, many employers aren't giving much thought to what they can be doing to keep current employees happy. After all, shouldn't their employees just be happy to have a job in today's economy?

Chances are, your employees are happy to be employed and not taking their paycheck and benefits for granted. However, you need to think about what are you doing to maximize their experience today so that they will stay with you when the economy turns around and more jobs become available in the coming months or years.

Employees leave jobs for a variety of reasons, including many that are out of your control. But what about issues you can control? Statistically, top reasons employees leave jobs include a lack of opportunity for advancement and a lack of recognition. Are the tools available so your employees won't feel that sense of dissatisfaction?

While some employee turnover can be expected in every industry and in any state of the economy, there are simple steps that an employer can take to reduce turnover and retain their employees for longer periods.

Job Description

Employee retention begins with the creation of an accurate job description. If you have a position to fill, it's best to figure out what a new employee will be doing once hired. Not only will you simplify the recruiting process by honing in on the right type of candidate, but you will also have a better chance of making the right hire -- and reducing turnover.

The job description can be used during the interview to find out exactly what the candidate has done in their past experience, and can be used after the hire to map out the direction your new employee should take as they tackle their new responsibilities.

It's never too late to create or update job descriptions for existing employees. The process itself provides a good opportunity to sit down and talk to an employee about their responsibilities. In addition to giving you the basic job description information, an employee may take the opportunity to share with you some recent on-the-job accomplishments, and provide you with more insight as to how they could grow with your company. In turn, it is an opportunity for you to recognize their contributions and if possible, have a discussion of how this employee fits in to plans for your organization.

Performance Evaluations 

A performance evaluation can be tailored to meet your company's culture and industry. While an evaluation must be fair and accurate, the actual format of the evaluation is less important than the opportunity to meet and have a face-to-face conversation with your employee. Every employee wants and needs feedback to continue to perform at their peak performance. They deserve to get a formalized evaluation at least once each year.

Without an evaluation, even the highest performing employees will lose their motivation. If your top performers are not receiving recognition for exceeding goals and malting a positive impact on the company, what is their incentive to continue working at a high level?

At the other end of the spectrum, it is important to provide under-performing employees with feedback. Aside from protecting you from a potential lawsuit in the event of termination, a performance evaluation with specific examples will help these employees understand how and why they are not meeting expectations. With this information, they may be able to improve their performance enough to be retained by your company, rather than terminated down the road.

Employee Recognition Programs

Whether it's winning a sales contest or earning a reward for going above and beyond the call of duty, employees like to be recognized. Employee recognition programs can be tailored to meet the needs of your business and culture. Typically, the easier they are to administer, the more participation will occur.

For instance, a typical sales person will earn a bonus or commission based on their volume of sales. Is there a quantifiable action you can measure in marketing, information technologies or accounting? If so, set-up a contest with the winner in the department receiving a gift certificate or lunch from their favorite restaurant.

Setting up company-wide challenges with whole departments working together is another motivational tool. Treat the highest achieving department to an activity outside the office.

While prizes are a nice incentive, establishing a recognition program is more about recognizing achievement and creating department-wide focus. You will find employees energized and more motivated in the coming weeks.

Employee turnover can be costly. By implementing a few key initiatives in your company today, you can minimize your potential for employee turnover tomorrow. You and your customers will benefit from your satisfied and dedicated workforce.

Marci Alpert provides human resources services to small and emerging businesses on an outsourced or project basis. She can be reached at [e-mail].