Recruiting and retaining good employees has always been a challenge for HR professionals across companies. When old employees randomly quit an organization, it results in a loss of time and resources. And if your recruitment and retention strategies aren’t strong enough, there would always be the fear of losing good employees once you hire and invest in them.
Following are 5 actionable employee retention strategies that will help you reduce employee turnover and retain the best talent you need to run your company. That being said, it’s worth noting that no strategy will help you overcome a lack of empathy or appreciation for your employees. In order to retain your employees, you need to truly care about them.
Look at the potential, not the experience
If you are persistent about every candidate meeting every job skill requirement, you will have a short list of candidates with skills that may go obsolete in a month or two. Rather, you should focus on people with potential, great attitude and an inclination to learn new things.
Avoid outsourcing your recruitment process
There are two ways to go about the recruitment process, Insourcing and Outsourcing. While sometimes it makes sense to opt for Outsourcing, it is not always the right way to recruit employees in the long run. By keeping the recruitment process in your company, you will be able to find candidates that are a good fit for the company in the long term. Recruiters can use different ways to recruit employees for any desired position and find a suitable match for the job.
Encourage employee feedback
Feedback is a two-way process. Giving feedback to employees is as important as receiving feedback from them. It’s important that employees feel they are being heard and that the company cares for their well-being. This keeps your employees engaged, and high levels of employee engagement can boost revenue by 2.5x (KaiNexus). Also, don’t forget to thank your employees who offer their suggestions. Focus on creating a culture where employees are encouraged to share their thoughts and ideas.
Provide them an opportunity to grow
Companies looking to hire candidates from outside for their open roles stand to lose an opportunity to retain their good employees. If you don’t give your existing employees a chance to grow within the organization, they will feel stuck and may decide to leave your organization. The best thing you could do to retain good employees is to invest in their growth. Give them the training they need to upskill themselves, make them feel valued, and help them move up the ladder.
Encourage a healthy work-life balance
High expectations at the job mean long hours at work and less time for family, leisure, and personal care. An imbalance in work-life can take a toll on employees, resulting in low productivity at work and unsatisfied personal life. You can help create a good work-life balance for your employees by establishing policies that encourage them to rest well and have adequate time spend time with family and friends. Introduce work-from-home programs, weekend work policies, and flexible work timings that help your employees bring their best game at work every day.
If you haven’t thought about recruiting and retention strategies, you need to. Otherwise, good employees will leave your company to join your competitors. These recruitment and retention strategies can help.