Employee retention must be a top priority for any company because the cost of losing top talent is significant.
Employee retention must be a top priority for any company because the cost of losing top talent is significant. Low retention rates affect productivity, motivation, and performance. So, with open feedback channels, you can build a culture of recognition and boost your retention efforts from now on. Here are several retention strategies you can perform as a human resource professional.
Encourage Employee Engagement
Disengaged employees are detrimental to your company. They set poor examples, discourage others from performing well, and bring down morale. Several things decrease engagement, such as failing to give employees a voice. Your employees want to impact decisions that affect their work and the organization’s direction.
So, converting feedback into action shows that leadership takes employees’ concerns seriously. Rather than yearly surveys, occasionally send short questions to measure employee engagement in real-time.
Build a Culture of Recognition
Building a culture of recognition is also valuable to boosting employee retention within a company. However, this approach requires frequent, specific acknowledgment. Also, your organization should prioritize social recognition and monetary rewards to make consistent recognition a reality. These send messages of appreciation to anyone at your company whenever and wherever works best for them.
Attract the Right Employees
The best employees desire to be around others that inspire them, not those that bring them down. Find ways to recruit first-rate candidates who align with your company culture and will stick for years. In addition, think about how to best promote your work environment for each potential candidate and position.
You can also build relationships with community college career offices and professional groups to receive a diverse applicant pool. Remember to spotlight a robust culture of recognition. This contributes to an increase in employee retention.
Develop a Smooth Onboarding Experience
Making employees feel like a part of your company begins with their onboarding process and continues through their first year. Employees who feel comfortable and capable can do wonders for employee retention. Additionally, managers have a significant role in the onboarding process. Remind them that a smooth onboarding procedure impacts the employees’ connection to the organization. Suggest weekly one-on-one meetings as the new person is getting acclimated.
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