Your employees are your most valuable resource. Recruiting and hiring is a necessary part of building a high-functioning team, but retaining your top talent is also critical. By focusing on retention, you can increase the positivity and motivation of your employees, reduce unnecessary turnover costs, and make sure your positions are filled by experienced and trained workers. Here are three tips to promote employee retention in 2019.
Most new employees go through some form of onboarding process, whether strategic or not. Onboarding is their first experience of the day-to-day life of an employee in your organization. It is also one of the most important opportunities you have to make a good impression on the new hires and transform them into loyal employees with the potential to make a positive impact on the business. While the onboarding process is often used to finalize any dangling procedural requirements, its primary purpose is to be motivational. From a new hire’s perspective, it should be rich in relevant and useful information. From the organizational perspective, it should also be reliable, replicable and most importantly, flexible to meet the needs of the individuals experiencing the transition.
Keep Them Engaged
Retention requires investing in your current workforce and making sure they are interested in their work, feel their efforts are valued, and have the resources they need to be successful on the job. Engagement leads to commitment and loyalty. Employees who are invested in their work and in the company are more likely to perform well and stay with the company for extended periods of time. In order to keep your rock-star employees engaged, you should connect with them regularly about their work experience, their goals, and their engagement level.
Managers should have their fingers on the pulse of their team members’ overall engagement level as well as their performance. Creating an open conversation about goal setting and career development will bring the long-term interests of an employee into the forefront of the conversation. If they are starting to lose interest in one particular role, but you feel they would be of value elsewhere within the company, help them find a project or opportunity that really speaks to their interests and their skills.
In today’s job market, employers are the ones competing for top talent. They are on deck to offer competitive compensation packages and the types of benefits that make top performers feel appreciated. Retention strategies can include regular cost-of-living raises, well-rounded retirement plans, and a strong corporate culture of rewarding long-term employees. Today’s modern worker wants to know their employer sees the value in a positive work-life balance and puts an emphasis on their health and wellness. Employees show loyalty to the companies who appreciate their efforts and work hard to keep them.
Keep in mind that each employee has a different way in which they feel appreciated, and it is the task of their managers to pin down how their employees should be rewarded for their successes. Achievement and recognition programs along with little things like gift cards, holiday parties, an extra day off or even tickets to a show all help to make employees feel appreciated. The goal is to make your top performers feel they are part of a strong community rather than just showing up to pay their bills.
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For more advice on how to retain your best talent, turn to our team of experienced recruiting experts for insight on the latest trends. Contact us to learn more about what you can do to create a thriving work environment.