4 Employee Retention Techniques for Teams that Last
While retention often takes center stage during bright economic times when employees have their pick of offers, it’s even more important during a downturn. Navigating difficult circumstances requires the full engagement of your top talent. Also, the costs of re-hiring and training can add up. This is particularly important when your organization is trying to do more with less.
4 Employee Retention Techniques to Keep Your Talent Engaged
1. A commitment to development
Competitive salaries and benefits matter. But research shows that employees care just as much about opportunities for growth and career advancement. Acknowledge this by implementing a tried and true retention technique, on-going training and education. Personalized training and development pathways should speak to individual strengths and target particular knowledge gaps. This will demonstrate commitment to your team that keeps them committed to you.
2. Effective and supportive managers
Other employee retention techniques might not seem quite so intuitive but can have an equally big impact. For example, studies have shown repeatedly that poorly-trained managers push employees away. ‘People leave managers, not companies,” explains author and management training consultant Victor Lipman. So try investing in leadership training and development. This training ensures your managers can communicate effectively and provide the guidance and support required to lead.
3. A focus on wellness
Employee retention techniques that focus on building engagement can also reduce turnover by keeping workers happy, healthy, and committed to your organization. Beyond workplace social opportunities, consider investing in wellness programming and initiatives targeting employee pain points. Make sure you’re listening to your employees, especially those who may not have the opportunity to connect with HR directly.
4. Smart hiring: The best retention technique
The best employee retention technique? Smart hiring focused on identifying candidates with the soft skills and personality traits essential for success at your company.
In an employer’s market, it’s easy to feel spoiled for choice. But while you might be tempted to wave through that resume with the Ivy League pedigree or decades of experience, don’t forgo screening. All the technical aptitude in the world won’t keep top talent on board if your new hire lacks critical soft skills or doesn’t mesh with your organization’s philosophy. Tools like our Pre-Hire Assessment go beyond the resume to provide insight into what makes a candidate tick. This can help you avoid expensive hiring mistakes
While Pre-Hire Assessments aren’t quite a crystal ball, they are more reliable at predicting employee success than traditional methods. By singling out the soft skills that will drive candidates to excel in their positions and gel with their colleagues, you’re already on your way to boosting employee satisfaction and retention.
To hold on to your top talent in good times and bad, you’ll need a retention strategy that focuses on both the pull factors that keep your company attractive and the push factors that drive top talent away. Effective employee retention techniques address the entire talent management lifecycle, beginning with hiring, and focus on engagement and development.