Everyone’s living in an era where company loyalty doesn’t mean what it used to years back, with millennial workers having a reputation for moving from job to job, always on the lookout for the next best thing-and businesses are starting to catch up. Nowadays, most companies are now providing several programs, benefits, and other perks to improve employee retention of the best talents around.
However, keeping top talent has become a shared struggle amongst businesses. Luckily, there are several things you can do to improve the likelihood of your young and talented employees to stick around and work for you longer than average.
Here are the proven and tested tips to help you retain top talent today.
Improve Employee Engagement Strategy
Only around 33% of recruits are wholly engaged in their new roles, no matter the industry, which is an alarmingly high figure considering the great lengths companies take to create a positive onboarding experience. So to battle this, invest some of your time and money in developing the ‘right’ strategy and incorporating the right technologies to ensure your employee engagement is current and impactful.
One of the best approaches in improving employee engagement is using tech trends like using employee experience software to let employees stay connected. At the same time, you deliver on their expectations-keeping the best talent around without adding extra workload to your HR team.
Avoid Micromanaging Employees
Remember that each employee is different, and they may have different approaches in their work. If you notice a worker doing things differently, avoid micromanaging them and allow them to do it their way as long as it provides ideal results. That’s because if you criticize employees just because the way they do things is different and you’re always up their noses can make them feel like you don’t trust them, increasing their chances of leaving.
So, allow your employees to be creative and do things convenient and comfortable to increase employee retention and satisfaction.
Create Enticing Programs for College Graduates
A whopping 77% of newly grads stay at their first job for less than a year, affecting many businesses’ bottom line. That’s why to remedy this growing issue-companies need to create and incorporate programs to nurture student talent. Some firms offer long-term fellowship programs to give students immersion opportunities at different departments throughout a company. In contrast, others provide shorter intensive programs giving grads a chance to fine-tune their skills.
All these guaranteed more prolonged employment, especially among younger professionals.
Streamline Onboarding Processes
Based on a survey, more than 70% of professionals say they’re likely to stay at a company for at least three years or longer if they’ve experienced a ‘good’ application process. After all, it’s the first critical touchpoint an employee gets with their future workers. By streamlining their application process, you’ll be sending a message of efficiency and honesty to potential employees.
Frequently Provide Constructive Criticism and Praise
Negative feedback can affect the motivation of even the most dedicated and productive workers. So, remember that there’s a time and place for constructive criticism. However, be wary of how you present and communicate it to your workers. When providing constructive criticism and praise, do it directly and honestly instead of following the traditional year-end employee reviews. Regular in-person and one-on-one meetings are the best way to provide your top talents with praise and constructive criticism.
Modern workers seek mobility and flexibility when it comes to their schedules and general workplace. That’s why it’s best if you become more flexible with their working conditions, as it’s been proven that flexible workers aren’t only happier-they’re more productive. Plus, the more satisfied your employees are, the higher their chances of staying and leaving a positive impact on your business.
Manage with Trust
If workers trust that a business is moving in the right direction, they’ll likely stay. That’s why maintaining open and transparent communication among your workers is crucial to building trust, cultivating a sense of ownership throughout a company. The new leadership style doesn’t rely on the power to force individuals to do what they want-it depends on honesty, relationship, and trust.
After all, your workforce can see when your motives are genuine and for the company’s better. So, you’ll need to naturally persuade your employees to collaborate with you to pursue your company’s mission and goals. You can do this by asking your employees to take them on crucial tasks, such as asking someone to run an important meeting or give a presentation.
Most companies nowadays have some form of programs designed to nurture their best talents, and with good reasons. After all, these high-achieving individuals can have a significant impact on business results, and the strategies mentioned can help you keep the best talent around for the prosperity and growth of your brand-long-term.