Retaining top-tier talent is an industry-wide struggle. As the market continues to evolve, so do the needs and wants of employees, and talented employees will gravitate to companies that best suit them.
Here are just a few strategies organisations can put in place that will ensure staff retention and improve company’s work culture.
Money is not the only motivating factor for employees to stay within their roles. Additional benefits contribute to the overall value of a role to the employee. The benefits your company can offer may vary depending on budgets and the size of your workforce.
We recommend having an open conversation and asking your colleagues what perks they would like to avail of. It may be something as simple as a day off on their birthdays or finishing up a little earlier on a Friday evening. Taking the time to actively listen to staff can improve satisfaction levels, work culture and productivity, resulting in less turnover.
One of the best ways to retain staff is by promoting them. Being overlooked for promotion is a sure way to push good staff out the door. Where possible, always look internally to hire senior-level positions before going outside the business. It is much better to hold onto talent than lose them to a competitor!
Training & Development
Offering employees training, courses and personal development projects shows your commitment to them as long-term team members. An intelligent way to pitch this to employees is to provide them with a training allowance, with a set amount of ‘training days’ to use at their discretion. Offering this trust and investment in your staff shows that you appreciate their contribution and are committed to their future in the company.
By implementing the above, a company demonstrates the value it places on employees, resulting in a long-lasting and more satisfied workforce.
If you are looking to hire top-tier talent, get in touch today and find out how TalentHub can help you and your business.
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