Retaining New Talent

Research has shown that employees tend to move from employers every 5 years in the UK.  So how can you ensure your employees stay for longer?

How do I attract talent?

When you are looking to engage someone into a role, look at what your business can offer to your new employee.  If you’re replacing an employee, then ask why they are leaving and how you can improve on this so that the next employee stays engaged with you for longer.

Have a look at your company culture, ask your employees if they think it is a happy place to work and if it’s not, what could be done to improve things?  You could conduct an employee satisfaction survey to find out what the problems are.

Think about the benefits you offer to your employees.  Any benefits that you offer to your employee are going to be an attraction and they don’t have to cost a fortune either.  Businesses now have to enter all their employees into a pension scheme so try and make this as attractive to your new employee as possible as well as any other benefits that you offer.  It’s how you treat your employees that attracts the right person to your business.

When you are designing the role, have a look at what is expected and write a job description so that the employee knows what is expected of them.

Decide where you want to advertise your role and make sure that you are doing it in the right place, you don’t want to advertise for an engineering role on a job site that targets financial people.  You will need some research so that the right candidates apply. Make sure that the advert explains in brief what the role entails, what benefits you offer and sell your business so that people want to come and work for you.

Once you have your candidates, make the interview process structured and decide whether you will conduct a 1, 2 or more staged process and if you will be using any tests to help you with selection.  You should also have dates set for the interviews to take place.  Tell the candidate who they are coming to meet and at the end of the interview let them know what the next stage would be, provided they are selected for the next stage.  It’s also a good idea to let unsuccessful candidates know they haven’t got the job as this gives them a more positive feeling about the company than if they do not hear anything.

How do I Retain Talent?

To retain your employees, you want to keep them engaged from day 1 by giving them a good introduction to your business.  Tell them what is going on within the team and the company.  Make sure that the employee knows what is expected of them and they understand what the main goals of your business are.  Let your employees know what they need to do to help you achieve the business goals and keep talking to them about how they are doing.  Have regular meetings with your employees and enable them to have a voice and feel that they are part of something.  If there are any concerns raised, ensure these are addressed and show them that things are being done to resolve their concern.

Why not reward your employees for good work?  Even small gestures are thought a lot of by employees but think about what you can afford to give.  Maybe give them some time back rather than any monetary reward as this can be just as valuable to some employees.  There are lots of ways in which you are able to make your business a happy and rewarding place to be.

Keeping up communication with your employees is the most effective way to keep them engaged, they will feel part of something.  Listen to them and make things better for both you as the employer and the employee as a happy employee is going to stay with you.

References: (article by James Caan)