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By playing some simple games like fetch with your dog, you can kill 2 birds with one stone. First is that the actual playing of the game will surely tire them out so much that they won’t have the energy to jump the fence. Second is that you are associating the fun of the game with the yard. If they have fond memories of the yard they will be less likely to try and get out.
When a dog jumps on a human of its own free will, it is not "greeting" the human, it is asserting its dominance over the human; it is the dog communicating that it is alpha and/or wishes to own/control the human. A subordinate would never dream of running over and jumping on the alpha dog of the pack. Space is respect and lower members of the pack respect the higher members. If your dog jumps on humans, it does not respect them. Note: when a young puppy jumps on humans it is sometimes its attempt to reach one's face. Puppies need to be taught not to jump up on humans as this behavior will manifest into other meanings as the puppy grows up into an adult dog.
In order to perfect the proper greeting routine, your dog needs much more practice than that. You can speed up the training process by leaving through the back door and returning through the front door over and over again. When your friends come over, have them do the same. Each time, ask your dog to sit-stay before opening the door. At first his excitement will make it difficult for him to concentrate but after you've repeated this process 10 times, he will calm down and be able to concentrate. Before asking your dog to sit-stay in this distracting and exciting situation, be sure he has a reliable sit-stay in normal, non-stressful situations. And of course you can always just hold the dog in a sit if need be.
Paying attention to a dog only when all four paws are on the floor can work well, if jumping isn’t well entrenched and if everybody who deals with the dog follows the rules. Unfortunately, much of humanity will get busy undermining you. “I don’t mind your puppy jumping up,” they say, while you tear your hair out. Or they get all disciplinarian, maybe kneeing the dog in the chest. That is not only mean but counterproductive, because dogs often respond by trying to appease. Since humans are usually taller than dogs, reaching our muzzles to lick them involves jumping up.