Hire Train and Retain
All companies want to hire train and retain employees. Wouldn’t it be nice if the word turnover only referred to a small pie?
The reality for HR leaders isn’t so sweet. 47% of HR professionals said employee retention was the top talent management challenge they faced. Followed closely by recruitment at 36%. It’s no surprise that these two are linked. It’s much less expensive to retain a productive employee than it is to recruit one.
Retention
Employee retention relies on a combination of factors. Employees stay longer at a company that includes flexible work arrangements, benefits, professional development opportunities, advancement opportunities, a good company culture, and more.
Nearly 2.7% of workers in America left their jobs in April . This is highest percentage seen in more than 20 years. Additionally, over the past year, 25-40% of workers have considered quitting their jobs. How can we get around elevated quit rates and employee churn post-pandemic?
Hire Selectively from the Start
Make sure you hire selectively from the beginning. This will help to improve your retention rate. When hiring, consider things like diligence, attitude, and integrity. As well as other things like academic qualification(s), skills, and experience. Be sure to stay on top of industry compensation standards. Structure bonuses and benefits to attract the Best in Class.
Foster a Culture of Rewards & Recognition
Celebrating your employee’s achievements encourages them to perform well. It can include things like individual recognition, participation in mentoring programs, personalized gifts, vouchers, bonuses, and rewards. Be sure to acknowledge when an employee achieves a long-time goal or has completed another successful year at your organization.
Be Transparent About Business Stability
Communicate to employees about business plans, future prospects, and business continuity and success metrics. Above all, organizations need to ensure that employees feel supported during crises and that they don’t have to worry or be overwhelmed with their job security and financial stability.
Improve Your Corporate Culture
A poor corporate culture can harm the reputation of your company. And this can result in poor employee retention. According to a recent Randstad poll, 86% of potential employees said they would not work for a company that had a poor company reputation. And 38% of workers are considering leaving their job due to a toxic work culture. Having a strong vision, mission statement and company culture helps set the tone and provides a positive work environment that attracts the best workers.
The Cardinal Culture – Since 1994
Cardinal Staffing Services is not just any staffing company, it is a place you can be inspired to reach the goal of your dreams. The Cardinal Culture is about empowerment. We treat our customers and candidates with respect, dignity, and appreciation. We know that sometimes a person just needs to be heard. To listen and to be given a chance. We make positive decisions every day that impacts our valued clients, our candidates, and our community. We are waiting to hear from you. Contact us today!