Hiring Trends – Retaining Existing Talent

What causes employees to throw in the towel?

According to research cited in a recent Inc.com post, here are the top three culprits (a lack of which causes employees to leave):

  • Advancement
  • Work/life balance
  • Money

Forbes.com provides a slightly different list of reasons why employees quit:

  • No vision
  • No connection to the big picture
  • No empathy
  • No (effective) motivation
  • No future
  • No fun

Obviously, employees seek greener pastures for a wide variety of reasons – many of which are not related to money. To minimize turnover, develop a multi-faceted retention strategy that addresses the full range of your employees’ needs – short-term and long-term; professionally and personally. Here are a few tips from PrideStaff to help you increase employee retention:

Match rewards to employees’ wants and needs – what’s most important to your team? Have you asked recently? Find out what matters to them, then adjust your company’s offerings accordingly.

If you find out that a healthy work/life balance is key:

  • Help them leave work at work and carve out more quality time to spend with family or on leisure activities.
  • Offer flexible work schedules and remote work options (if that’s viable for your company).
  • Require your employees to take their hard-earned vacation time.

If autonomy is essential, give people freedom over how they work (when appropriate), as long as they are hitting objectives and following required protocols.

And if recognition makes your employees feel valued, make sure to formally acknowledge both group and individual achievements. Create a plan that’s consistent, timely, and in-line with your company’s ideals.

Show employees their futures with your organization. If a career-minded individual doesn’t have a well-defined plan for moving ahead within your company, there’s little incentive for him to stay with you. Set aside time with each employee to discuss your company’s future – and his role within it. Help each individual create a five-year plan for career progression that aligns with your long-term business goals.

Promote from within. One of the best ways to keep top performers is by presenting opportunities for growth and development. So train your staff to close critical skills gaps that create barriers to promotion. Mentor top performers. Develop tomorrow’s leaders from within your organization.

Ask. Listen. And show you care. Sometimes, all your employees need is to know that you understand them and take their questions and concerns seriously. Make sure that employees realize your door is always open. Listen to their suggestions as well as their complaints, and do what you can to make changes when needed.

PrideStaff can help you keep your best and brightest.

  • Minimize burnout. Keep employees in the fold by providing the support they need. When things get busy, overtime can stress employees out – decreasing productivity and contributing to turnover. Using contingent workers to provide temporary support can greatly reduce employee burnout, allowing your core staff to stay fresh, productive and motivated to stay working for you.
  • Staff high-turnover positions differently. For positions with notoriously high turnover rates, consider using qualified temporary employees to “stop the revolving door.” We can ensure you always have the skilled, resourceful people you need to complete your toughest jobs.
  • Make better hires. PrideStaff can help you take the guesswork and risk out of the process – and hire people who will stay working for you. Our On Target fulfillment process eliminates chance and inconsistency, to create better matches, every time. Contact your local PrideStaff office today to learn more.