Hiring the person with the right potential for your business is only the beginning of the relationship that grows between employer and employee. Throughout their tenure with the company, employees need to feel valued, adequately renumerated, and safe. These qualities in a business will not only make it a nicer place to be but will also improve the chances of the staff staying long-term. A few strategies that you can use to ensure the new talent you have brought in want to stay are listed below.
Hire the right person for the job
This seems like a no brainer, as not only does your new talent need to be qualified for the role,but they also need to be the right fit for the team. To avoid this potential pitfall, many businesses now have a multi-level interviewing process. Once candidates are deemed successful in terms of the job itself, it can then be prudent to invite them to meet the people that they will be working with. This allows for both the existing and potential new members time to decide whether the working relationship going forwards is going to be successful.
Use surveys to improve the workplace environment
Retention rates amongst your employees will increase when the workplace is supportive, positive and inclusive. However, retaining employees is going to be one of the biggest challenges businesses will face, according to inpulse.com.
A strategic way to accurately identify the need for improvement to this is to carry out employee surveys. Vital to the well-being of its inhabitants, one study has shown that for many, the bottom line to staying or going is the company’s work culture.So, discovering weaknesses such as little bonding, unhealthy stress levels or an increase in conflict and then taking the time to rectify them is a sure-fire way to keep staff retention levels high.
Competitive wage packages
Hiring highly talented people costs, but when their skillset is exemplary,the business will reap the rewards tenfold. So, in a market that is flooded with competitive salaries and bonuses, a crucial decision for a new hire will be to offer the best and most personalpackage possible. Not only should monetary gain be a major factor, but often offering benefits in the form of a personal touch will clinch the deal, such as gym memberships, health insurance or monthly care packages.
Provide flexible work/life balance
The key to successful staff retention in 2022 is offering flexibility in both hours and the workplace. Many people are not enamored with the idea of returning to the full-time office post-Covid, and when those same people have proven that they can perform efficiently remotely, there seems little point in forcing the issue. Instead, allowing for a flexible work schedule that suits both employer and employee will improve work/life balance and also ensure the staying power of the staff in the longer term.
Show appreciation
Giving people constructively positive feedback does not have to be limited to the bi-annual review, it can also be spontaneous and day to day, becoming an integral part of the fabric of work life. When people feel their skills are being appreciated, studies have shown that productivity increases, stress decreases, and job retention improves.
The bottom line in keeping employee retention levels high is that your talent feels valued. This means creating a safe, supportive and fun work environment in all its genres, whether for the remote workers or those choosing to return to the office. It also means keeping the dialogue between team members open and honest, allowing for opinions or grievances to be voiced without fear of repercussions.
