Keeping great employees is a number one priority of most companies. This takes effort and strategy, just like any other aspect of doing business. How people are managed in an organization from the time they are hired on to how they are groomed for higher levels of achievement has much to do with a successful employee retention program. If your company is plagued with a high turnover rate, or you are looking for ways to improve the rate at which you keep your best employees on board, here are some employee retention ideas directly from HR pros.
Retention starts with recruitment efforts. One of the best ways to ensure your employees will stay on for the long term, is to focus on bringing the best candidates on for each job type, from the start. View assignments as long term and carefully select job candidates who have the right skills to do the work properly, a factor that can create happier and more productive employees.
Better management strategies for employee retention success. At the root of many disgruntled employees are managers either who do not have effective people management skills, or who don’t see the value of retaining quality employees for the long term. Too many managers lack the training and foresight to maintain their employees to help the organization grow. If you have identified this at your company, start training your management about raising employee morale and developing key employees.
Provide employee recognition benefits for top performers. Employees who are regularly recognized for their efforts are generally happier and thus more productive. While pay for performance is an expected result of making an effort on the job, the most successful companies use employee incentive programs to bolster performance initiatives. A 1999 study by in the Academy of Management Executive journal, clearly outlined the reasons to go beyond pay to establish higher levels of employee performance at work.
Create better employee development programs. Working is not just about a paycheck, if it were then employees could simply go elsewhere for higher pay. A 2008 global workforce study conducted by Towers Perrin indicated that “key drivers of workforce retention can be addressed by letting employees know how they are compensated according to others doing similar work and by alerting them to opportunities to learn and develop new skills.” Employees who are provided with ongoing training and development stay for the long run.
Want more advice with implementing a workable employee retention strategy? Contact TempStaff today for corporate HR support!