It’s no secret that employee retention is an important component of long-term success in any business. However, many employers struggle to recruit top talent and then retain it once they have it. While you can’t create the perfect work environment every time, there are plenty of steps you can take to make sure you’re at least as appealing as your competitors to the best candidates out there.
Here are five tips for recruiting and retaining top talent:
1) Creating Company Culture
Building company culture starts at the top. If you're leading a team, make sure that you create an environment where employees feel like they are part of something bigger than themselves. Focus on getting to know your team members, developing them, and making them feel valued so that they can do their best work. You'll also want to give them opportunities to contribute in other ways outside of their job description so that they have a feeling of fulfillment in what they do as well as recognition from their peers.
Work culture spreads. Its infectious. It's not just about how we talk with our team or how we treat each other when we see each other in person. It's also about how we talk about each other and interact with one another online through social media platforms like Facebook or Twitter. The more positive messages there are out there, the more likely people will stay engaged and committed to working for your company. And that will attract other like-minded talent to join your team.
2) Hiring Employees
Once you have a good culture, then you can start scaling up your hiring. When you break it down, there are a series of clear steps that you need to take to fill roles.
- Define the role you’re looking to fill and the skills required to excel in it. This depends entirely on you and what you feel your business needs.
- Use your professional network to reach out to potential candidates. Everyone knows someone. Through one or two connections, you likely know good people that would be a great fit for the role.
- Utilize social media platforms, like LinkedIn, to post job openings and find qualified individuals. Social media is more than cat pictures and memes; use it well and you can reach anyone in the world.
- Host informational interviews with individuals who express interest in working for your company.
3) Training Employees
Good training is key to keeping good people. Train your employees in what they need to know, as well as how you want them to interact with customers and co-workers. A program designed around your company’s values and vision will be more effective than a one-size-fits-all training program.
Provide on-the-job coaching and performance reviews throughout the year. If an employee seems disengaged, see if there are ways to make their job more meaningful. Consider giving bonuses and awards to top performers—these rewards can help retain high performers and encourage others to reach higher goals. Also consider recognizing excellent job performance by any member of your team. Rewards and recognition help employees strive for excellence in their work and boost morale and confidence.
It is also important that managers take time off from work themselves so that they can stay focused and engaged with their team members during stressful times. Find out why your employees are leaving by asking them face-to-face or by reviewing their exit interviews.
4) Delegating Responsibility
Trust your workers. Empower them to learn and if they fail, let them try again. It's imperative to give employees ownership over their work. One way is by using job enlargement, which means assigning an employee a series of tasks related to his current job function that are greater in scope than those performed on a regular basis. The result? A more satisfied employee who sees her work as more meaningful and a less frustrated employer with fewer time-consuming questions from employees who do not have the appropriate level of knowledge to answer these questions.
Remember that all people have strengths and weaknesses, so when delegating tasks, make sure you know the employee’s strengths and weaknesses. And don't forget about their personal life; most of us need balance in our lives.
49% of employees will leave their job in the next 12 months over a lack of benefits.
Studies show that a good benefits program can help you attract and retain employees. Retention rates are higher with such benefits as maternity leave, health insurance, dental coverage, tuition reimbursement, and retirement savings plans.
Meridio offers affordable minimum essential coverage (MEC) healthcare plans in addition to a full suite of optional benefits that allows your company to provide a robust package to your workforce. Voluntary employer contributions are also available.
Provide your team with a clear understanding of how your company's benefits plans work, and make sure they have the support needed to find the plan option that best suits their needs and budget. After all, happy and healthy employees are more productive at work and miss fewer days!
Discover a more affordable approach to workforce benefits. Schedule your 15-minute discovery call today.