As an employer, your employees are your most valuable asset. A strong team can make the difference between a company that flourishes or flounders. Employee turnover is time consuming and expensive. Even once you have recruited the talent you need, retaining those key people requires an effective plan. At Careerwise, we are experts in HR requirements – here are our top employee retention strategies for 2021.
If you find the right people from the start, you stand a far greater chance of retaining them. Make sure you have a carefully thought through recruitment process in place, that will ensure you recruit the talent you need. If your employees are well matched to their roles, they will see landing a job with you as a long term opportunity. With the modern workplace constantly evolving, increasingly job seekers are looking for a more holistic approach to employment. They are not only looking for a job, but also a company that shares their ethos, which will give them the work-life balance they require, and opportunities for career growth. If you don’t get the correct recruitment strategy in place, you can expect much higher employee turnover, with the associated costs to your finances and efficiency.
All too often, employers go to the effort and expense of recruiting the right candidates for their role, only to lose that person within the first few months. This indicates flaws in the company onboarding process. It is vital to make your new recruits feel valued and at home in their new role. Make sure you have a clear and compulsory onboarding system, where your employees are introduced to all aspects of their job, and made to feel valued. Avoid a process that simply involves large amounts of paperwork, and instead focus on genuine engagement. Capture their enthusiasm for their new post, making it clear what your expectations are and where they can find help and information to get them settled in.
If you are hoping to attract the top talent for your vacancies, you will be recruiting people with ambition who have a range of potential options on the job market. You will need to show them that you are an employer that can offer them opportunities for career growth, in order to retain their talents long term. There are numerous ways you can provide appealing prospects. A clear promotional ladder, with chances for continued professional development, is a must. But personal growth is also increasingly important. By investing in skills that aren’t directly related to employee’s careers, you set yourself apart from your competitors and increase your company’s long term appeal. Giving employees access to further training, online courses, or extra resources, shows that you are invested in them, and will encourage their loyalty in return.
Employees need to feel secure in their roles in order to invest themselves fully in your company. Clear communication of their rights and duties is key to creating this mutually responsible atmosphere. Ensure that policies are clear to all, and implemented fairly, so that all your employees feel they can trust in your company and commit themselves fully to doing the best job they can. Remember that communication is a two way street. Make sure you provide opportunities for employees to express their experiences and give you feedback. Listen to their concerns and act on them where appropriate. Employees who feel heard and appreciated will stick with you for the long term.
Everyone likes to feel appreciated, and this is especially true in our job roles. Employers should consider how they can encourage a team spirit amongst their workforce, whether that means hosting a lavish Christmas party, or a team building away day. As an employer, you should be sure to foster a culture of gratitude, and remind managers within your company to thank employees personally, giving credit where it’s due. Schemes such as employee of the month, or annual awards ceremonies, can also be effective ways to show your appreciation, and in turn improve your rates of employee retention.
CareerWise is Ireland’s leading specialist recruitment agency in Cork, Shannon, Galway, Mayo and Dublin – bringing together employers with the perfect employees. We specialise in the Engineering, Supply Chain, Science/Pharma, IT and Accounting industries in Ireland, and we look forward to working with you. Contact us online now or call us on +353 (0)21 206 1900 to arrange a consultation.
Ken Murphy graduated from University College Cork in 1987 with an Electrical Engineering degree before moving to the US as a Network Design Engineer with BellSouth Corporation. His return to Ireland in 1989 heralded a career which concentrated on the multinational sector, and involved working with companies such as Apple Computer, Cabletron, FMC Automotive, Moog, General Semiconductor and Technicolor.
Ken is a specialist in quality management, purchasing, logistics and supply chain management. He has significant expertise and experience in managing the changing demands of the global media, electronics and automotive sectors at operational and project management levels.
Ken leads CareerWise Recruitment’s Cork operations. He has served on local and national committees of IPICS (The Supply Chain Management Institute), CIPD, the Cork Electronics Industry Association (CEIA), and has completed a three-year term as Chair of the UCC Alumni Board.
Ken has recently been elected as a Director of the Cork Chamber for a four year term to help promote business and drive policy objectives for the Cork Region
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