Employee retention is a huge issue for so many employers. The “Great Resignation” bred quite a bit of hostility between companies and employees. Companies that were more than willing to fire massive numbers of people still required two weeks’ notice before quitting. The professionals in nearly all industries have taken power back as they understand there is a multitude of work available. Retaining employees is about treating them as more than KPIs or productivity numbers that need to be hit. In fact, employee retention is so important that companies like Talent Keepers help in a variety of ways. During the interview or exit process, surveys of former, leaving, or new employees can provide valuable data.
The ultimate win-win situation is driving up employee retention numbers and hiring better-quality applicants. Show employee appreciation helps retain employees while bringing in better employees. Most professionals are not going to actively look for a job while happily employed. Switching companies for a small pay increase can be a risk as professionals already know how they are treated in their current positions. The following are tips to help increase employee retention while simultaneously driving up the average quality of new hires.
A remote job is the dream of several professionals. Not all individuals will love their job but can love the work-life balance their job affords them. The pandemic allowed remote work to surge by years due to companies still needing to earn revenue. Jobs that were “impossible” to do remotely all of a sudden became more efficient. The traditional office environment slowly died while some did adopt a hybrid environment. Hybrid environments are not true remote work as you cannot live anywhere you’d like as you have to make your way to the office.
Management might have resisted until the increase in productivity was viewed. Some managers might feel threatened as their teams still performed without being micromanaged. The truth is that there are so many unnecessary meetings in an office setting. A majority of meetings could be covered by a detailed email, and the email can be referred to for those who are forgetful and would miss the meeting.
The perks for employees are going to have to change forms with a fully remote workforce. Virtual happy hours can be a blast and a good way to build rapport. Sending a gift certificate or a favorite adult beverage to each remote employee is more than possible. Company trivia or random facts on the staff can allow everyone to get to know one another.
Current employees can be a valuable resource when it comes to finding talented new employees. Most employees will not risk their reputation with their employer without confidence the recommendation will be adequate. Others do not want to work with people that will make the jobs of everyone around them more difficult. Reward programs for successfully referred employees can entice those to think of former colleagues that might be in the market for a job.
LinkedIn can be a great resource to see where former employees have gone. Reaching out to see about the quality of work a professional might provide that has applied is wise. Leaving on good terms with an employee is important. A company or manager should not always take it personally when someone says something outlandish during an exit interview. Losing a job is a jarring event that happens without warning when some people give notice, they are quitting.
Hiring software is something that helps identify the best applicants for a position. Sifting through hundreds of applications is simply a waste of time. There are keyword tools that help identify which positions are most relevant to the position. Saving time along with automating other parts of the process is imperative. The emails sent out for interviews or rejections can also be automated. Leaving applicants in the dark about the job’s status is not something that breeds goodwill among those professionals applying.
A reputation as a launching point for a certain industry can be so valuable. Attracting top talent is something that is not lost on competitors. The referrals or recommendations given should be earned but glowing. No company wants to be known as one that gives negative recommendations to former employees. This can be seen as a tactic to keep employees even if they are extremely unhappy, as it limits their options.
Improving the quality of the staff while retaining employees should be the ultimate goal. You are not going to be able to retain all top performers, and these individuals might go on to better roles, but lessons can be learned from each one.