If you are starting a business or in the beginning phases, you may have considered creative ways to retain employees. But the best way is always the smart strategy! We walk you through three strategies for your employee retention program…
How To Retain Employees In Small Business
Employee retention is important because the opposite an be quite costly.
Recruitment can be expensive. So, not only does losing a staff member mean losing their skills and talents, but it also means you’ve got to find a suitable replacement and train them. That means additional time and effort spent.
If you can retain your top talent, it will be much better for your company. Here are three smart strategies to retain employees for the long-term.
Retention Starts With Recruiting
You can hire on your own. Or, you can use an expert company to help you with the search and screening process. For example, you can retain top talent with ServiceNow HR. Or firms like theirs in your area.
You should start your employee retention program right from the beginning with the application process. Screen applicants as you interview. To prepare, identify what parts of your company culture and business plan you want to emphasize and look for correlating traits in your candidates.
Going forward, make sure each employee is engaged with and part of your company’s ongoing success by hiring the right people from the start.
Retain Employees By Identifying Candidates That Will Stay With You
There are some key indicators on a resume that can help you spot candidates who are more likely to stay with you. Look for candidates with longevity at their past jobs.
Also look beyond what’s written on their resume. Have they worked at one company for several years, through ups and downs? This suggests they are loyal and engaged.
Seek people who:
- Play team sports
- Have ambitions outside of work
This suggests they are invested in their pursuits and have the mindset to stick to something that they care about.
People who change jobs often can be a risk. They might just be looking for the right fit. However, someone who has had ten jobs in twelve years is likely to be tough to retain.
Offer Ongoing Education And Clear Paths For Advancement
Promoting from within gives a clear path to advancement, and helps employees to feel valued.
Promotions should align with development and education, which can be another tool you use for retention. Offer training to help develop new skills or offer reimbursement for outside courses. Investing in employee development makes team members feel both valued and invested in the company.
Learning should be a core focus for your organization and can also be the key to improve your retention rates. An organization that shows a commitment to training is viewed by its employees as one that invests in their worth, which can be a strong incentive to remain with a company.
Investing in the education of your employees can help you hold onto top talent and intellectual property at a time when there is often stiff competition for both. The need for new skillsets and the trend of ever-evolving roles renders savvy people in high demand. Work environments evolve at a rapid rate.
Putting someone on a career path with little room to develop is not only a career-limiting move for the employee but a business-limiting move for your company. Invest in development to keep people on board.