It costs too much to recruit, hire, train and develop new staff. Retaining the best and the brightest is worth your time and resources. Great retention strategies can also demonstrate your organization’s care and focus for its loyal people and can increase their productivity.
We compiled this top 10 list from interviews with C-suite executives and successful HR managers. I hope you can find some strategies worth trying in your organization.
Treat your employees like you treat your most valuable customers. It’s cheaper to keep your good employees than it is to hire and train new ones. Your top 20-25% should be courted as you would court and then serve your top customers.
Make your employees “fall in love” with your organization. Communicate your vision in a compelling way. Show everyone their role in contributing to this vision. Create opportunities for people to connect with each other to provide support and improve communication in work teams.
Strong retention strategies translate into strong recruiting advantages.
Retention is much more effective when you put the right person in the right job. Meet the job! Know the employee and his motivations.
Money is important, but it is not the only reason people stay with an organization. If your compensation plan is in the top 20-30% of your industry, then money often won’t be the reason people leave.
Employee committees to help develop retention strategies are a very effective strategy. Get their opinion! Ask, what do people like about working here? What would you like to change to make your company a better place to work?
Leadership must be deeply invested in retention. Management must be adept at communicating company policies in a way that generates “buy-in” from their staff and be open to employee input. Help create “ownership” in your employees.
Recognition, in various forms, is a powerful retention strategy. It doesn’t have to cost a lot. US Department of Labor – 46% of people leave their jobs because they don’t feel appreciated.
Remember, the “Fun Factor” is very important to many employees.
Learn about the trends in benefit packages. Do your best to offer what your employees need. Consider offering the best of the rest.
If you have great strategies that are not on this list, please contact me so I can update this list. Look for more information in this article on retention in [http://www.dstress.com/RetentionArt.htm]
Thanks in advance.