According to a study by the Hay Group Institute, over 32% of French workers often consider changing jobs. In 2017, the actual turnover rate was 15.7%. While it’s challenging to quantify the true cost of turnover, the time spent on recruitment, training, and the resulting loss of productivity can be devastating for organizations. Additionally, a high turnover rate can tarnish a company’s image, often indicating poor working conditions, a negative atmosphere, overwhelming workloads, or inequitable salaries.
To combat this, creating a talent retention strategy is essential—not only for productivity but also for enhancing your employer brand. Your employees are your best advocates, and they deserve to be treated at least as well as your customers. Here are five tips to help you keep your talent and attract new talent to your organization!
Effective Onboarding
“You never get a second chance to make a first impression.” The way we perceive things initially tends to stick with us. A poor welcome and inadequate onboarding can significantly shape a new employee’s view of your company. To ensure a smooth integration, organize a comprehensive onboarding experience. This can include an office tour, team introductions, an overview of tasks for the first few weeks, and pairing new hires with a mentor. Make sure to introduce the newcomer to the entire team, highlighting their role and responsibilities. This approach not only makes them feel valued but also clarifies expectations for everyone involved. Strong engagement begins here, leading to improved performance.
Listen to Your Employees
You can’t retain your employees if you don’t understand why they leave! Tools like Zest can help you gauge employee well-being and mood in real-time, allowing them to share suggestions for improvement. By monitoring these signals, you can address issues before they escalate. This proactive approach helps create a workplace where employees feel comfortable and valued, making them less likely to leave.
Invest in Training
It’s a common misconception that once employees feel comfortable in their roles, they’ll stop seeking growth. Human nature drives us to seek challenges and avoid stagnation, which can lead to boredom. One of the primary reasons employees leave is the feeling of being stuck. Pay attention to your team’s needs by providing access to training and development opportunities. Whenever possible, offer clear paths for advancement, whether vertical or lateral. If immediate promotions aren’t feasible, focus on training to show your commitment to their future, preparing them for opportunities when they arise.
Foster Kindness and Recognition
Employees who don’t feel recognized or valued will likely seek that affirmation elsewhere. It’s crucial to encourage and appreciate the efforts of those who contribute to your organization’s success. Zest promotes a continuous cycle of positive feedback, which boosts motivation and reinforces each person’s importance. Research shows that recognition from a manager can increase employee motivation by 64%. While it’s important to address areas for improvement, focus on constructive feedback and support rather than criticism.
Improve Recruitment Practices
Are your employees leaving shortly after being hired? It may be a sign of poor selection. Whether the job doesn’t align with their expectations, they lack motivation, or they don’t fit into your company culture, these issues could have been identified earlier in the process. Reassess your job descriptions to ensure clarity, refine your CV screening to be more selective, and enhance your interview process to emphasize what’s truly important for success in your organization. Often, recruitment failures stem from relational mismatches rather than a lack of skills. Ensure that candidates share your vision and values. Consider using gamified assessments like Yuzu, which evaluate candidates’ soft skills through engaging simulations developed with cutting-edge gaming technology.
