Retaining the best talent is one of the most important parts of the recruiting and hiring process. It’s important to be able to attract qualified talent; however, you want to make sure they’ll stay and support your business. This is particularly true for quality IT employees – advancing technology often means there are more job openings than there are qualified applicants. Here are the most important things to consider when working on your retainment strategy.
- Salary: What you pay matters. It’s important to make sure that your salary ranges are competitive within the industry and they are regularly reviewed to adjust for cost of living and performance raises.
- Employee Engagement: Employees want to stay with businesses who they think are invested in them and care about them as people. Engaged employees are productive, committed employees. What works for engaging employees will vary, but some company initiatives might include a company-wide monthly lunch that updates everyone on the business, paid time off for team volunteering or after-work happy hours. Anything that shows your company is committed to communication and employee well-being in and out of the workplace.
- Culture and Environment: It’s important to cultivate the kind of culture and physical environment you know employees want to work in. This doesn’t necessarily mean having a ping-pong room and a zen cave, but getting creative with ways to make work a more engaging place to be can be a good retention strategy. Not every company can afford a slick facility with a gym and spa, but what about a stipend for group exercise classes or monthly on-site yoga? What about offering standing desks for employees to stretch their legs and break up the day in a cubicle? Small changes and perks can make a big difference.
Your talent makes up the foundation of your business and is critical to your success. It pays off to have a retention strategy that will keep your people with you as your business grows and changes.
If you need help attracting and recruiting the best talent – and want some time back to focus on your retention strategy – give us a call today.