September 23, 2015
Checkmate: Solving the Problem of Employee Retention
It can seem like a never-ending game of chess. Answering the question of how to retain great employees is one that stumps even the most able of employers. Unfortunately, even human resource departments tasked with monitoring this issue are often operating at aÂ loss as to how to solve it.
A recent study published by TINYpulse, notesÂ that a lack of employee investment and engagement is certainly part of the issue. “Organizations that don’t invest in their employees and [fail to effectively engageÂ them]Â are just asking to be outmaneuvered by their savvier, more progressive counterparts.â€Â What you do after initially wooing your employees seems to matters a lot. Well, a whole lot. Go figure.
If you’re interested in retaining top talent, you’ll have to be proactive and focus on creating an optimal employee experience as you thoughtfully navigate this issue.
Here are some key strategies forÂ attracting and maintaining gold star employees:
1. TakeÂ the time to hireÂ quality employees. The need to run a “well-oiled machine” can put companiesÂ in an awkward position. The rush to hire new employees, especiallyÂ whenÂ trying to nameÂ a successor,Â is taxing. But, if finding a good fit is really the goal, then time is better spentÂ discovering competitive options rather than executing a “quick fix,” which hurts the company and its employees in the long-run. Moreover, the indirect costs associated withÂ a quick hire increases exponentially and can easily reverberate throughout an organization.Â TheÂ need toÂ re-train, re-hire,Â re-executeÂ work and even re-negotiate relationships can wreak havoc on social cache as well as the bottom line.
2. Set clear expectations from the outset and be consistent.Â Ensuring that everyone is on the same page is critical to success. To stack the deck in an employee’s favor,Â choose toÂ set clear expectations early onÂ and consistently reinforce them.Â ThisÂ strategy alone willÂ optimize company outcomes. Two frequent complaints among employees (both old and new) is ignorance of expectations and lack of consistent standards.Â There’s nothing worse than bumbling around in the dark so-to-speak and hoping that what you’re doing is right. By beingÂ proactive, a company can easily avoid these kinds ofÂ missteps.
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