Retention is a key factor in the process of hiring and managing people. Recruitment can be expensive, and turnover can lead to expensive disruptions in business, so companies have a vested interest in making sure they work hard to keep those they hire on board for the long haul. How can you raise your retention rates?
- Find the right candidates: Retention starts at the beginning of the hiring process. Identifying candidates who want to make a difference and grow with your company helps put the right people in the right positions to begin with. Hiring too fast or without enough information – such as references – can lead businesses to lose new hires early on.
- Offer the right perks: You don’t have to have a game room or unlimited snacks to make people want to stay in your employ. Most people working today identify more traditional benefits as the most important: health insurance and vacation time, with options like flextime, bonuses and stock options also regularly listed as priorities. Giving people the tools and resources to take care of themselves and their future can help them better invest themselves in your business.
- Keep employees engaged: Employee engagement doesn’t mean employee happiness – it means employees believe that their work has value and that their company cares about them. Providing teams with training, educational opportunities, and other options can make employees feel prioritized and therefore more engaged.
- Have clear communication: Communication is the key to success. Clear, honest, transparent communication should be the norm between everyone in the company, whether it’s a conversation involving only the executive team or a manager talking to his team. Companies need to provide clear communication about goals, budgets and more to help ensure the whole company is moving forward from the same page, using the same information.
- Solicit feedback: It’s okay to ask employees how they feel and what they think. In fact, you should. Employees who know their opinions are valued and listened to do more to drive business. Asking your employees for their feedback not only gives you insight into how the employees feel about their jobs and what changes need to be made, it also leads to managers feeling more trusted by their teams and more able to make decisions.
Improving your company culture and working on some business processes can keep employees excited about and committed to working on your brand. Rolling up these ideas into your overall hiring strategy may be helpful.
It might also be helpful to give us a call. Our expertise allows us to identify the best hires and make recommendations about who will be the most likely to not waste your time or a great opportunity. Get in touch today.