Employee retention: A few strategies to think about …

Hiring the right talent is difficult enough but retaining them is a whole new challenge. Most of the organizations are today facing this, how to retain their employees, especially the talented ones? As you are all aware that the employees are the biggest assets of any organization, the customers or business come second. If you take good care of the employees, they will replicate this feeling to the clients and customers making the organization stand out in the crowd.

It, therefore, makes sense to have some strategies in place to retain the best talent. Here are some of my thoughts to think about:?

1.???The retention strategy starts with recruiting

The retention starts right from the hiring right candidates, it starts with identifying what aspects of culture and strategy you want to emphasize, and then seeking those out in those candidates.

2.???Identify the candidates who will stay longer

The recruiters can spend some time to understand the candidate’s past career movement rather focusing only the technical competence and job fitment. The employees tend to stay longer at organizations where they are aligned with the values, vision, and mission, so identifying them during the recruitment process.

3.???The compensation and other perks?

Organizations need to pay competitive compensation, consider other benefits such as bonuses, health care benefits, and retirement plans, which can help raise employees’ job satisfaction, too.

4.???Onboarding and orientation

Every new hire should be set up for success from the start. The onboarding process should teach new employees not only about the job but also about the company culture and how they can contribute to and thrive in it.?The mentorship program also would help in a great way to extend as part of the onboarding process, especially in a remote work environment.

5.???The engagement

One of the first signs of an employee on the verge of leaving a job is disengagement. Creating a highly engaged workplace begins with having competent employee retention strategies. The management would do well to connect with their employees frequently and be open for their feedback.

6.???Continuous feedback on performance.

When you have one-on-one meetings, talk with your employees about their short- and long-term professional goals and help them visualize their future with the company. While you should never make promises you can’t keep, talk through potential advancement scenarios together and lay out a realistic plan for reaching those goals.

7.???Reward & recognition for hard work

Rewards & recognition play a vital role now in most of the organizations to motivate individuals. I suggest going one step further to recognize and reward the hard work rather than just appreciating results.

8.???Training and development

During the continuous feedback process, identify areas for professional growth, such as the need to upskill/learn new skills. It is very much important for today’s competitive business requirements. Succession planning is highly effective method for advancing professional development and building leadership skills.

9.???Flexible work arrangement

As organizations reopen after the pandemic forced their closures, many companies are preparing for the fact that some of their employees will still want to work remotely, at least few days in a week. We may expect some of the employees currently working from home would look for a new job if they were required to return to the office full time.

10.Work-life balance

A healthy work-life balance is essential to job satisfaction. The managers should encourage employees to set boundaries and take their vacation time. And if late nights are necessary to wrap up a project, consider giving them extra time off to compensate.