Developing a plan to retain your best talent is one of the most productive things you can do for your company. It reduces the cost of hiring, eliminates talent gaps and improves morale. And all you have to do is find a way to hang onto the people you have already hired.
Look for top performers with a track record of success. Focus not only on the candidate’s skills and abilities but if they are someone who will fit seamlessly into your organization and become a part of the team from the first day.
Analyze Your Performance
How are your retention rates now? It’s critical to know where you stand, so that you can create improvement strategies. Are you looking for people at a similar functional level or from the same department? Create goals so that you can see that your plan is working – or not working.
Develop From The Inside
Encourage professional development. Work with each employee to create a straightforward and rewarding short and long-term career path. Make it clear that it’s acceptable to make lateral moves within the company if that will best suit their long -range goals. Provide a path within the company, so your best people don’t need to leave to succeed. Pay for conferences, classes or certifications.
Make Goals Achievable
Give your people clear expectations and metrics to measure themselves against. Provide milestones they are expected to reach and ongoing feedback and training to help achieve them. Not knowing where they stand professionally can make people feel insecure and unappreciated, two factors that can contribute to attrition.
Manage Your Managers
One of the primary reasons for people to leave their jobs is because they don’t like their managers. Be sure that you keep an eye on how your managers are treating their people. If you are losing a lot of people who report to the same person, that is likely a red flag. Keep an eye on managers with high attrition rates to determine whether they need additional training, have hit a patch of bad luck or simply shouldn’t be managers.
Be sure that your team has the necessary tools to succeed. Whether it’s the right technology, a comfortable space to work or additional training, be attuned to what they need. Pay attention to their workload to avoid burnout and see if they are struggling with any aspects of their job. Keep an eye out for people who bring negativity into the workplace. They will probably stay and complain rather than leave, but they can drive out your best people who are tired of hearing it.
At TERRA Staffing, our recruiting team is always thinking one step ahead so our clients can find the best fit for their staffing needs. Contact us today to learn more.