Retaining your top employees is a crucial element for any company. In this article we look at the best employee retention strategies, why retention is important and how you can implement your retention strategy.
- Employee retention is vital for your business’ success.
- High turnover can cost you a huge amount of time and money
- Offering progression opportunity, generous benefits and creating a positive culture can help you retain top talent
At ecruit, we want to help you attract the top talent for your business but getting the right people into your business is just the start. You then need to focus on how to retain them to build a loyal and successful workforce.
Why Is Employee Retention Important?
Hiring the best talent is a common challenge for many companies with todays candidate-driven market meaning it is harder than ever to attract the right people. Luckily, ecruit is here to help you hire the best, for less - but once you have made that hire you want to keep those employees on board to drive your business forward.
High turnover of staff can be very damaging to a business. Firstly, there are cost implications with each new role needing to be advertised and the indirect costs of your recruitment team’s time and resources.
It can also lead to a loss of productivity as new employees will take time to get up to speed and onboarding and training can take time.
How To Improve Employee Retention
Hire The Right People
It may sound simple but ensuring you hire the right person in the first place can help you with your retention. Ensure they have right culture fit and have the relevant skills and experience to succeed in the role.
Focus On Candidate Experience
From the moment you start your recruitment process you should ensure you are delivering a positive candidate experience. This not only means they are more likely to accept an offer from you but also means you are laying the foundations for a positive working relationship when they do join you. You can do this by ensuring you have an efficient process in place and keep regular communication with candidates.
Improve Your Benefits
To attract and retain the best talent you need to ensure you are offering a competitive benefits package. There is more to a job offer than just the salary on offer and including generous benefits can help your employees feel valued and help them be more productive.
Benefits could also include rewards or recognition which can help your team feel appreciated and give them additional reasons to remain with the company.
Having the opportunity for career progression can be an effective strategy for employee retention as staff can develop a clear path for the future. This does not always need to mean a promotion or pay rise but could be increased responsibility, learning new skills or expansion of the role. Offering staff training and development shows them that you value them and ensures they will stay with you for longer.
Create a Company Culture
The culture of your company is becoming increasingly important in attracting and retaining staff. Employees want to work for a company they believe in and that has clear values and purpose. Create a caring culture with a flexible work environment and you will soon build a reputation of a positive workplace that others want to join.
Attract & Retain Top Talent
Retaining your top talent is vital to successfully growing your business so it is important you take steps to keep hold of your best people.
If you are looking to attract the best talent for your business, then ecruit can help.
Our Advertiser service means we can create an optimised job advert and post it on all the top job boards, all for one low cost. We also include access to an ATS meaning you can manage your candidate talent pool and handle the recruitment process easily and efficiently.
Our headhunter service also allows you to attract passive candidates who may not be actively looking for a role but who fit the criteria you require.
Book a 5 minute demo with our team to find out more.