Retaining New Hires

Once you have great recruiting practices the next thing you want to do is focus on retaining your new hires to improve your employee retention rates, save significant amounts of money and increase your profitability and productivity.    

Retaining top talent should always be an objective of a business but in some industry sectors, it is becoming even more critical as our competitors shoulder tap and woo our workers as employee scarcity becomes more common because of Covid 19 and changing immigration policies. 

7 tips to give you an advantage and help you preserve the integrity of your teams. 

1. Get your recruiting practices right by applying my previous tips.   

2. Design your employee brand.  As I have previously explained every business has an employee brand whether you designed it or not.  Now is a great time to be intentional about it and own it. 

3. Create currencies other than money.  Wage gouging is becoming more commonplace to attract top talent. Currency opportunities are almost limitless, and they can be customised to individuals or groups.  Doing this is the answer to wage gouging.

4. Support your workers in applying the 7 pillars of physical and mental health and wellbeing.  Spend time listening to them and then act in a timely manner on commitments you make to them. 

5. Be true to training and development commitments. 40% of poorly trained employees leave the company in the first year and the remaining 60% perform below their capabilities resulting in significant profit seepage.  Training and development opportunities are also key in talent acquisition.  

6. Provide a physically and mentally safe work environment.  Employers are often surprised to learn that 50% of employees report that a poor workplace relationship was the key reason they left a job.  When it comes to anxiety inducing workplace happenings business leaders should have a zero-tolerance policy whether it be unsafe environments, bullying or unrealistic workload expectations. 

7. Support your team leaders. Don’t assume they have the skills and ability to handle every situation nor do they necessarily have the stamina to uphold their teams in these trying times.

Developing a great employee experience will deliver returns that will surprise you.