On top of the money spent on hiring and recruiting an employee, you invest abundant resources to train talent and help them stay on top of trends.
One survey shows organizations with 100-999 employees spend nearly $1100 on training per employee. Moreover, your employees could be rich in unquantifiable skills like mentorship capabilities, job-specific efficiencies, or being a critical contributor to your company’s culture.
In today’s candidate-driven market, no matter what the industry is, efforts to retain employees can seem never-ending.
Unfortunately, despite all the work you put into ensuring you have a top-notch team and a fully-equipped staff, people leave when you least expect.
As an employer trying to run a business, how are you supposed to deal with these challenges? Is your only recourse to constantly strategize for the worst-case scenario? Or, is there a better solution that helps you manage employee turnover, and allows you to focus on your work?
Hiring With a Smarter Strategy From the Beginning
The familiar quote, “You get what you pay for,” is especially true when hiring employees. It could be you could trace the key to hiring long-term employees all the way back to the beginning of the interview process.
Is your benefits package competitive? Do you offer flexible schedules? If remote work options are available to the position, are you taking advantage of highlighting those opportunities in your job description?
Even the job description itself could, with some fine-tuning, attract employees who will stick around for the long haul. Many employers are taking a radical approach of building flexible job descriptions that encourage employees to be more proactive in creating their own careers. This strategy is creating a lot of excitement for job seekers who are looking for work with a greater degree of engagement and productivity in their next role.
It is critical that businesses have a keen sense of the shifting trends in employment – especially those in a candidate-driven market – since knowing your benchmark is the best tool in setting competitive salaries, benefits, and descriptions that can attract the top talent.
The Most Important Key to Building a Culture of Retention
If hiring with a smarter strategy creates more retention on the front end, then building a company culture that supports employees personally and professionally is the best ongoing practice to retaining valuable employees.
There is a lot of great advice out there on how to create a positive and engaging workplace culture ranging from the run-of-the-mill to the bizarre and exciting. But just like no two businesses are the same, every employee is different. One employee’s idea of an exciting culture might not be shared by their colleagues.
The best strategy here might be the most difficult.
We’re talking about employee surveys.
Not a lot of people like to fill them out. Many employees are concerned about the confidentiality of a workplace survey.
But if you really want to know what motivates your team, encourage them to fill out a survey and follow through on the results with transparency and a commitment to respecting the value in the opinion of your employees.
Partner With an Industry-Expert Staffing Agency
Even after all your planning, and proactive strategies to create more employee retention, you will probably lose employees. As you are probably aware, that is the reality of the market employers are working in.
But just because employees might leave for other opportunities doesn’t mean you can’t mitigate the costs of losing that valuable talent.
The best step you could take is partnering with an expert in your industry who can provide quick solutions to an open position and the lost work that might result in not quickly filling that role.
That’s why, at US Tech, we make it our mission to know our partner’s industries better than anyone else. We know the nuances in the talent our partners are looking for, in the roles they’re looking to fill, and the market benchmarks which everyone is using to hire or get hired.
If you could use an industry partner and an advocate to help create more employee retention, contact the recruiting specialists at US Tech Solutions today.