STAFF RETENTION HIGH ON YOUR 'TO-DO' LIST?
Did you end 2016 with a high staff turnover? No-one wants to invest time and money hiring the right talent only to suffer from problems with talent retention!
As everyone knows that with each New Year comes with it the almighty surge of resolutions. Whilst a lot of these resolutions are often to ‘give up chocolate’ or ‘spend more time in the gym’ increasingly more of us are turning our attention to our place of work, which won't bode well for any employee turnover resolutions you may have.
If you fear that the resolutions your workforce might have is to ditch their job in search of a better one, then we have 6 tips on how to retain staff in 2017!
Don’t forget to give top performers an ego boost! You may already incentivise and reward in your business but it can be crucial to show appreciation to the talent in your workforce. Remind them of the bigger impact their role has to the overall business to ensure your employee engagement with talent remains strong.
Think this isn’t a problem for you? It might be that the HR and L&D teams are working on getting underachievers up to speed so much that the talent you rely on to consistently perform start to look elsewhere.
Start seeing performance reviews as an opportunity for your talent to voice their career development aspirations. If they’ve performed well, don’t end the conversation there. Start another one about where THEY want to be and how YOU’LL help them get there.
Don’t let this New Year be the year your talent leave due to feeling stuck in a rut! Ensure you work closely with your talent to discuss progression pathways and ways to get there.
Pay more if you can, and offer flexibility when you can’t. You should ensure that during any pay reviews that you ensure they are happy with the pay they are on, more often than not they’re aren’t!
It is often worth remembering that it can cost between 30-50% of an entry-level talent’s annual salary to replace them. Your talent could earn 10-20% more just by jumping ship, so being clear on what they’re happy with could save you loosing time, talent and money!
Can’t afford to pay the higher end of what their skillset could reach? Ensure you give them autonomy and flexibility to work how they like. After all, you have to give to get!
Keep your talent skilled! Just as you want the latest operating systems for your computer and mobile software you want to make sure your businesses talent is continually progressing or ‘upgrading’.
Don’t just keep training in the back pocket for progressing talent during the personal development plans. Use training as a way to continually ensure you have the best talent on hand. Not only does this benefit the business but when you take the time to invest in your talent, they’ll feel needed and are often more engaged and loyal to the business.
Consider revising the benefits and perks you have, you don’t need to add more – but just make sure that the ones you do offer are ones that are a true value add for your talent. The people you have working for your business, will depend on what benefits and perks matter most to them.
Fresh fruit delivered to the office each week might appeal to a workforce that are keen to remain healthy despite sitting at their desk for 8 hours a day. If you have a sociable bunch, then you may want let the whole team leave early on a Friday to get a quick drink at the local.
Regardless of the perk or benefit, you should consider sending out a survey so that they can feedback which appeal most to them.
Identify what your Businesses Culture is and see if that fits with what makes you and your workforce happy. We spend about a third of our lives at work. It’s really important that we’re happy where we work, and a lot of the time something businesses often forget about is the employer value proposition.
What is it about working for YOU that makes it a good idea? Often this is thought about during the talent or candidate attraction phase of an employee’s lifecycle. Is there a strong hierarchy that is causing the entry-level talent to feel ‘lesser’? Should the key players in the business make their diaries visible to all, to make themselves more accessible and transparent?
EVEN WITH THE BEST INTENTIONS...
Regardless of whether it’s the New Year, or if you’ve just noticed signs of disengagement the above are just some of the way you can start to retain the talent you’ve worked so hard to attract and hire.
Despite the above tips, the ugly truth is that some staff will leave regardless. So, whether it’s due to your talent leaving, or your company growing, it’s important to nurture a talent pool now, ready for tomorrow.
Request a free Digital Talent Attraction Audit, to see how well your employer brand and advoacy is affecting your ability to attract new hires online.