You invest a lot in your top talent. And in today’s workplace, company loyalty has changed dramatically. Millennial employees have a reputation for moving quickly from job to job, and the days of staying with a company long enough to earn that gold watch for 25 or more years of service are fast becoming ancient history.
Planning for shorter tenures may be the new reality, but holding on to your best performers is still a top priority. What strategies can you use to ensure this happens?
Beef Up Your Process
In a recent study, 70 percent of employees said they were more likely to stay at their new company for three years or more if they experienced a favorable hiring process. This is where you make your first impression with a team member.
- Make it easy and efficient for candidates to apply at your company – so you don’t lose them to the competition due to your cumbersome demands and time frame.
- Once you’ve brought a new hire on board, ensure they have a positive, engaging experience.
Allow remote working options, flexible hours and fluid PTO policies. Employees with work/life balance are happier, and as a result, more productive and loyal. Give people the mobility they desire.
Set Clear Goals and Expectations
Start with your job descriptions. Make sure every employee understands what is required of them. Communicate this information directly and regularly.
- Make it part of your culture to give ongoing feedback on work performance. Sit down face to face and discuss any related concerns. Be accessible and open to new ideas.
- Create channels for honest, specific feedback to and from employees. Focus on direct, real-time communication whenever possible. Provide digital spaces like employee communities, where workers come together and solve problems without management always being in the middle.
Offer Growth Opportunities
Let your top performers know there is room for advancement within your organization.
- Provide tuition assistance and other incentives for people to get ahead.
- Assign challenging, stimulating yet achievable work.
- Tap into employees’ passions. Allow them to focus their time and energy on work they truly enjoy.
Recognize and Reward
Acknowledgment of a job well done goes a long way toward building long-term loyalty.
- Recognition needs to be specific. For example, “Excellent work on the April sales report” is much better than simply, “Good job, Mary.” In order to retain talent, you must make people feel appreciated, respected and worthwhile. They need to feel their contributions are important – but also that your praise is sincere. The smartest people know the difference between genuine recognition and platitudes.
In order to find and retain the best talent, you need an innovative staffing partner who knows your unique needs and has the tools and resources to meet them. Working with PrideStaff Fresno, you can be assured this will happen. Contact us today to learn more.