You might spend a lot of time recruiting top talent, but it could all be wasted if your business becomes a revolving door. All of your efforts to bring the best employees through the front door are negated when they disappear out the back door a few months later. You need to be able to retain your top people so your business can grow.
Here are five suggestions to help you.
1.Make sure you’re providing a competitive salary.
Good employees often move on because their pay is inadequate. Make sure your salaries match the market rate, or your top talent could be lured away for a pay increase. You need to weigh the cost of a higher salary against the expense of hiring and training a replacement. There are many tools available from organizations like the local Chamber of Commerce that can help you determine a competitive rate of pay.
2.Assist them in career development.
Career development is an excellent benefit to offer your employees. Give them the opportunity to attend conferences and take classes. It’s an investment in their future—and yours too! If your employees start leaving because they can’t grow and develop in your company, you’ll pay much more than the cost of a conference to replace them.
3.Promote from within.
Talented workers often leave their jobs because they see no opportunities for advancement or promotion. While it may be hard to lose productive workers to a higher position, it’s preferable to losing them to another company. Good employees want to feel challenged and engaged in their work. If they have been in the same job for a long time, they may begin to stagnate. That’s when they look to make a move. Help them move within your company.
4.Be an effective manager
Being effective means providing clear guidance and goals. You must be fair and handle problems quickly. Your best employees don’t want to work with whiners and slackers. They look to their manager to rid the workplace of bad employees. If you turn out to be an ineffective manager, your top talent will likely move on.
5.Hold occasional interviews.
Don’t wait until one of your top talents leaves to discover that a few small changes could have prevented it. Interviews are usually only conducted when an employee starts a job or leaves. Random interviews are an opportunity for employers to sit down with their top performers and find out how they’re feeling. Are they happy? If not, what has to change? Don’t wait until they give notice to have this meaningful discussion.
Are you looking to add to your workforce?
Trying to find the right candidate can be frustrating and time-consuming. When you work with a staffing company, you have access to their expertise and connections, saving you time and money on your candidate search.
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We have successful international recruiting operations in five countries — the United States, Italy, Switzerland, Romania and Brazil— our team continues to produce proven results and earn the respect of our national and international clients and candidates. Contact us to see how we can help you reach your workforce need.