There is a talent war going on in today’s marketplace. As the economy shows some signs of improvement, organizations are seeing the value in keeping their top employees – and recruiting the top employees of their competitors (that means you!). Keep your best talent from poachers by following these five employee retention tips:
- Hire the right people. Believe it or not, the best way to keep your employees is to hire the right ones in the first place. When you take the time and effort to ensure a good fit with your organization, you are much more likely to hire employees who are engaged and invested in your business.
- Provide opportunity to balance work and personal lives. Employee burnout is a leading contributor to dissatisfaction and turnover. Provide opportunities for your employees to take a break and live their lives outside of the office. You’ll have happier employees – and employees who are more rested and focused when they are in the office.
- Ensure opportunity for advancement. Devise clear ascension plans for key roles within your organization. Then, share those plans with your employees. If your team knows that there are defined steps and ways for them to achieve their goals and rise through the ranks of your company, they are much more likely to be focused and driven to perform – and to stay with a company that is invested in them.
- Define expectations. It is extremely difficult – and can be very frustrating – to work for a company where the rules and expectations are constantly changing. Set clear goals and expectations for your employees, and provide feedback when they do or don’t meet those expectations.
- Offer competitive compensation. You may provide a wonderful workplace, with vending machines and a ping pong table, but at the end of the day, compensation matters. Review your compensation plans – and those of your competitors. Make sure your compensation is on target with others in your area.
Searching for more top talent?
Contact Masiello Employment Services. We will source our extensive network of talented professionals to find your next superstar employee.