Improve their work environment.
Improve pantry or bring a vendor in cafeteria. So that employee can take some good quality tea and coffee etc to reduce stress while working hours. It will be improve performance and productivity of employees.
Implement flexible working ours and 5 day working .
Feel like working in government/export company.
Access of phone must be allow on the floor because emergency can happen at any time.
Appraisal cycle must be improved. Appraisal must be provided each and every years except in case of pandemic situation etc.
Once above things will improve you can hire employees from IIT and NIT to improve thier products quality and implement good ideas and technology as per market.