How do you ensure talent stays loyal to your company?
Talent turnover is a common occurrence. However, recruiting is not cost-free, which is why it pays to focus on retaining your talent. Unfortunately, not every company succeeds in this regard.
According to research by SD Worx, 56% of Belgian employers say they have difficulty recruiting new employees. This research also reveals that a third of companies indicated that they are struggling to retain talent.
Yet there are ways in which you, as a company, can ensure that your employees stay. By applying the following pointers, you will increase your employee retention.
Before you start
Know why your employees are leaving. It is important to clearly identify why your employees are leaving. Is there a structural problem within the company? Or is there a lack of flexibility? Once you have identified the problem, you can determine which of the following apply most to your company. This will make applying these recommendations more effective.
1: Encourage your employees’ personal development
This will give your employees more motivation and they will be more engaged with your company. They will feel better in the workplace and are therefore less likely to leave your organization. You can do this by, for example, offering training courses to develop their soft skills.
2: Also recruit based on interests, not just skills
While a person’s skills are important, interests are often overlooked. Employees who have the right skills but also have interests that match the company feel more engaged. This makes your employees more loyal.
3: Talking about pay pays off
For many employees, the opportunity of a higher salary is a reason to leave their current job. Open communication and transparent pay form the foundation for employee retention. By being more willing to pay your employees a higher wage, you reduce the likelihood of them seeking it elsewhere.
4: Be flexible
By giving your employees more freedom, you offer them more trust. When your employees are given more flexibility to work from home, or take a day off, you increase their job satisfaction.
5: Create career paths
It is important that your employees have a clear growth path at their current job. This makes it clear to them how they can grow within the company. Thus, they are more likely to seek their promotions from their current employer rather than from a competitor.
Create the increased employee retention
Hopefully, these tips will help ensure that employees feel engaged with your company. That way, you can increase your company’s employee retention in the long run.
