Your organization has worked hard to recruit and hire top employees. And, you’d like to keep your people.
Here are five ways to increase your talent retention.
Provide Purpose
According to the former SVP of People Operations at Google, Laszlo Bock, “We all want our work to matter. Nothing is a more powerful motivator than to know that you are making a difference in the world.” Helping your employees see beyond WHAT they do to WHY they do it, allows them to view their work as meaningful and fulfilling. And, as a result, they are less likely to look elsewhere.
Pay Competitively
Your company could be the best place to work in the world. But if your pay rates are significantly below market value, you’ll struggle to keep top talent. After all, it’s hard to convince anyone to stay at one job if they could be making twice as much in a similar position. Fortunately, this doesn’t mean you must offer the highest rates in your industry. Remember, money isn’t everything. Many people are willing to accept a smaller paycheck in exchange for benefits like a healthier work/life balance. Therefore, examine your compensation package as a whole. Perks such as health insurance, retirement plans, remote work options and profit-sharing play into the equation too.
Build a Strong Team
Most of us can think of a time we didn’t get along with one of their co-workers. And, chances are, this made our work life much more difficult. As Patty McCord, the former chief talent officer at Netflix, writes, “…the best thing you can do for employees is hiring only high performers to work alongside them.” Think about it. If you were on a winning team with great people, would you choose to stay or leave?
Offer Opportunities for Growth
Talented employees are lifelong learners. They want to build their skill sets and apply innovative ideas. By providing professional development opportunities, you are keeping these individuals engaged in your company. Because as organization consultant Simon Sinek observes, unless you give motivated people something to work toward, “they will motivate themselves to find a new job and you’ll be stuck with whoever’s left.”
Keep Open Lines of Communication
If things aren’t going well for one of your top employees, you don’t want them to suffer in silence and then unexpectedly quit out of frustration. However, you can’t assume everyone will automatically share their problems. Sometimes, you need to ask. Consequently, be sure to emphasize ongoing communication. This includes both formal meetings, such as performance reviews, as well as informal “How’s it going?” conversations in the break room or parking lot.
Is Your Company Hoping to Recruit and Retain Top Talent?
At Connectology, our recruiters match talented candidates with top manufacturing companies throughout the upper Midwest. We work diligently to uncover highly qualified candidates who will contribute to your organization’s long-term success. Are you ready to give Connectology a try? Contact us today to learn more!
