Cultivating and Retaining Current Talent
This year, companies around the globe shifted their processes to protect workers from the high rates of infection from the novel coronavirus. Throughout that experience, many are learning that employee retention is more important than ever in the age of COVID-19. With many businesses working remotely, onboarding and training new team members becomes more difficult. It’s easier to nurture internal talent and encourage in-house mobility than hire externally. What can organizations do to cultivate their internal talent? Here are a few tips for retention and employee development.
Of course, retention starts long before someone begins working with your company. You need to have good hiring practices in place so you hire right the first time. In the past, we’ve covered the high cost of a bad hire, and part of that cost is turnover. When you’re properly vetting and onboarding new employees, you will already start on the right foot.
Now more than ever, benefits are a major concern for employees. It’s the perfect time to review your benefits packages to ensure that you are meeting the needs of the marketplace. Consider your sick leave and pay policies to provide support to employees who might become ill or need to be a caretaker for another member of the family.
Companies around the world found themselves thrown into remote working situations earlier this year without any ability to plan. Now that working from home is becoming more normal, and more accepted, it’s time to put your company policies in writing. When your employees know the rules, they’ll be less likely to become frustrated over time.
The newest employees entering the job market are looking toward the future. They want to work with a company that invests in their career development. With remote learning opportunities becoming more accessible, it’s easier than ever to provide additional training and continued education to your team.
Sometimes it’s the little things that matter the most. When was the last time you thanked an employee for something that wasn’t over and above their daily tasks? You may think you don’t need to be grateful when it’s someone’s basic job description, but you should show how much you appreciate your team at all times. Thank them for their daily work, but also take time to provide recognition for accomplishments that do make them stand out.
Whether you’re back in an office or working from home, you need to constantly and consistently maintain good communication. Employees who don’t feel heard are more likely to become dissatisfied in the workplace and look for new opportunities. Share with them your expectations any time they change and be willing to listen to their feedback as well.
HireHive is recruiting software that helps you find the best candidates for your company. When you hire right the first time, you can focus on retaining your company’s top talent. Book a demo today to learn more.
“HireHive makes the team A LOT more productive. We’d be lost without it. Team Leaders can do it all themselves if needed or jump in at the right time and know exactly where everything is and what’s happening.”
Hilary Dempsey, Head of HR at Life Credit union