Top Employee Retention Strategies for Today’s Marketplace
In today’s competitive job market, employee retention is more critical than ever. Businesses that are not already focusing on either implementing retention strategies or enhancing their existing strategies will lose their top talent and get left behind.
Below is a list of top retention strategies based on the conditions of our current job market.
- Make Company Culture a Priority
Creating a company culture is one thing but making sure that your employees truly believe in your core values and mission statement is another. One way to ensure that all your employees truly believe in your company culture is to incorporate cultural screenings during your interview processes. This will help determine which candidates will truly be a good fit for your company and aid in the growth of your company culture. - Implement Professional Development Tools
One of the main reasons that employees leave a business is the lack of opportunities to grow their career. According to a recent workplace survey, about 94% of employees said that they would stay in role longer if they had opportunities for growth. Fortunately, there are ways for business leaders to help their employees grow professionally. Leaders can host continuous educational sessions or offer different educational outlets for employees to continue to learn and grow their skills. - Frequent Employee Check-ins.
They say that the first 90 days of employment is the most critical. Within the initial 3-month period, managers typically plan frequent progress check-ins and place a strong focus on the satisfaction of a new employee. But most companies fall short by not continuing regular and frequent check-ins after an employee has past their 90-day employment mark. Keeping your frequent employee check-ins that are focused on their progress and satisfaction will be an essential key to keeping your employees happy. - Ideal Candidate Profile
It would be a hiring manger’s dream if they were able to clone their most successful employees. While that is not possible, hiring managers can still create an ideal candidate profile based on their highest performer team members. Hiring managers can utilize survey tools to collect data on the habits and characteristics of their most successful employees. They can then take that data and place those attributes at the beginning of the recruiting funnel to find similar candidates.
While there a numerous employee retention strategies and processes, the ones listed above are typically the most efficient way to keep your employee turnover at a minimum.
If your business is struggling to find the right fit, reach out to us at sales@therecrutiability.com. We can help you implement the right recruiting and retention process to keep your team satisfied.