The current shortage of skilled talent has made employee retention strategy even more important than usual for businesses of all sizes. Retaining the good employees you already have is well worth the effort, especially when you consider the time and expense of trying to replace them.
With that in mind, it may be time to revisit your employee retention strategy to make sure you’re doing everything you can to hang onto your existing employees and keep them motivated and committed to your organization.
Evaluate Your Hiring Practices
If you’re struggling to retain top talent, it could be because you’re not hiring the right people in the first place. Exit interviews are one way to find out why employees are leaving, which can help you assess whether they were a good fit for your mission and their position in the business.
If it turns out they simply weren’t the right person for the job, take a hard look at your hiring practices, from job descriptions to interviews, to determine why there is a disconnect between the type of person you want to hire and who you’re ending up with.
Ask for Feedback
You might think you’re offering everything employees could want, including a competitive salary, a fun place to work, and desirable benefits. But the reality, as felt by employees, could be entirely different.
The only way to find out what employees are feeling and what they want to change, if anything, is to ask them. In doing so, and doing so repeatedly, you’ll also show that you care about their opinions, which is itself key to employee engagement and retention.
Evaluate Salary and Benefits
Salaries and benefits—and the ways they are determined, increased, and communicated—are critical to employee retention.
Keep an eye on compensation trends in your area and industry to be sure that you’re paying a competitive wage or salary. Also be sure to look into additional benefits that you can offer like mental health stipends, paid volunteer time, and flexible work schedules that can help employees feel cared for and less likely to look elsewhere.
Get the Support You Need to Build a Better Employee Retention Strategy
Insero Talent Solutions is a recruiting and executive search firm with a team of experienced recruiting consultants who get results fast. Our recruiting services team can help you with building your employee retention strategy as well as find, attract, and hire better candidates so you can grow your organization efficiently.
Share
About the Author: Benjamin Vassallo
