Three Keys to Retaining Top Talent in 2019
Congrats! You got the employee you wanted. Now the real challenge: How do you keep them? Here are 3 tips to retaining top talent in 2019.
Employee turnover is highly nuanced. WillisTowersWatson reports that as much as hiring has increased, so has employee turnover and attrition. Furthermore, only 42 percent of employees say their employer does a good job of retaining talented employees.
The hiring process doesn’t end on your new charge’s first day. It continues for the entire duration of his or her employment. Similar to a romantic relationship, you need to keep courting this person through the years to show your appreciation and your devotion to making their experience with you worthwhile.
With employee retention, complacency will be your undoing. It won’t always be as easy to keep employees satisfied as it was at the beginning of their employment when the hype and excitement were the highest. Resting on your laurels is like a virus to company morale, leading to lack of motivation, inspiration, and work ethic. It’s a two-way street.
Now that you know what job seekers are looking for in a company, here are some ways to put into practice what will make them stay.
Establish Your Digital Brand
In case you missed it, everyone is online. There’s really no required need to talk to a human about anything, think about it you could do this every day should you choose to do so. The endless trove of information that is the Internet is also why job seekers feel more empowered in their job search and career trajectories than ever before.
Appealing to employees through means that are ubiquitous to their daily lives is key to grabbing and sustaining their attention. Creating a community that values the sharing of ideas and content through social media and your website will help you appear more accessible, thoughtful, and inventive.
Educational, training, and branded videos are always highly effective at showing people what your company is about. Providing your employees the tools to succeed and explore how they fit into the bigger picture instills confidence, contentment, and autonomy. Micromanaging and trying to dictate exactly how one thinks of your brand never gets anyone anywhere. You hired these people for a reason – to do a job you can’t. Let your employees cherish the learning opportunities that come with interacting, experimenting, and learning from your brand.
Provide Career Development Opportunities
If there’s one thing that cannot be overstated, it’s the importance of providing career development opportunities for your employees. LinkedIn found that the same reason people joined companies is the same reason they leave – career development, or the lack thereof along with how they feel about their manager (another itme for another time).
A staggering stat from the report states that employees who don’t think they can reach their career goals with their current employer are 30 percent more likely to consider leaving. And quite frankly, if they’ve considered leaving, the battle is already lost.
A few ways you can prioritize career advancement opportunities are through the following:
There’s a delineation between career counseling and advising that’s hard to grasp but important to acknowledge. Career counseling is typically for individuals who don’t know what they want to do for a career. Career advising is for wmployees who have chosen a path but require guidance as to how to navigate that path to achieve their career goals.
Advising your employees on how they can grow in their roles will help them set goals and show them just how much you’re dedicated to their professional and personal development.
Seminars (Continuing Education)
Seminars, either led by your leadership team led by invited speakers on a given topic or external opportunities can offer employees a chance to learn something they would not have elsewhere and to directly engage with your company as a valued partner in the organization’s growth. The idea is to give employees inspiring examples and tools for them to take and run within their work for you. The more employees have at their disposal, the more creative freedom they feel.
These seminars are also advertising for your company. Encourage employees to share these events on social media for their networks – and the professional community at large – to see the value in working for you.
High-retention-risk employees are less engaged at work. A way to spark engagement is collaboration. Collaborating with employees is vital to cultivating an environment that uplifts and celebrates people’s unique perspectives and passions. Employee-directed workshops, brainstorming sessions, special projects and presentations show your interest in growing their leadership skills. Think of it this way: These are the people that could be assuming your position one day – what do they need to know to be successful in that capacity?
RecognitionThirty years ago, Monty Python’s The Life of Brian gave us a perfect satirical interpretation of human individualism.
Brian Cohen is an average Jewish man living in harsh Biblical times who, for one reason or another, has gained the widespread reputation that he’s the Messiah. He tries to refute it time and time again, but his desperate attempts to convey the truth about himself only grow his followers’ faith in him.
One day, a massive crowd assembles outside Brian’s quarters. He’s clearly had enough – nothing he does can shake their presence. As the crowd eggs him on to speak from his window on high, he implores them to think for themselves instead of blindly following him.
“You’re all individual!” he proclaims.
The crowd chants back “We’re all individual!”
Brian shouts again “You’re all different!”
“We’re all different!” the crowd predictably answers, with a single voice clarifying “I’m not!”
The desire to be respected and accepted for who we are is universal. No matter our job, education, or background, respond positively when we are publicly recognized for our individuality, special capabilities, and unique value we bring to a larger collective.
In a business setting, it’s not the grand gestures that matter. It’s often simple reminders that help bring out an individual’s confidence in who they are and why they’re valuable to you. Recognition can be shown in many ways:
Recognition in a team setting
Employee-of-the-month awards and goal achievement awards
Team outings and workshops
Birthday, engagement, or work anniversary celebrations/acknowledgments
Peer and management recognition
Customer testimonials and feedback
The more important an individual feels in furthering your company’s mission, the more likely he or she will remain with your company in the long-term.