How do you retain top talent?
One of your best employees resigns. How did you arrive at this situation? Will this impact other teams? During the hiring process to replace this employee, you will have to rely on your teams to take on the responsibilities and workload of the departing employee. This situation may create uncertainty within your teams.
What are the consequences?
The departure of a key figure from the company can create a domino effect and encourage other key colleagues to leave the company as well. This could start to lower the morale and motivation of their teams and impact the company’s performance. In fact, loyalty and talent retention is a major business issue today.
Why are your employees going?
Consider leading an initial interview with them and see their real reasons. You will be able to identify points for improvement in your employee retention strategy.
The most common reasons for employee resignations are:
– Inadequate salary and benefits: overwork and/or lack of support.
– Limited professional development opportunities: seek a better work-life balance: lack of recognition.
– Boredom (also called “bored” ).
– At odds with the company: concerns about the direction or financial health of the company, dissatisfaction with the company culture that wants to change, etc.
How to increase the satisfaction of your teams?
Leaders are looking for specific profiles that can accompany them in this recovery. If you think your business may lose its top performers, you must act quickly to strengthen your workforce retention. Here are some actions to implement to increase their satisfaction within your structure.
- Integration and orientation: the procedure for integrating new employees should allow them to become familiar with their position and the company culture, but also present ways to flourish. Do not leave this first crucial step. The accompaniment established from day one, whether in person or practically, sets the tone and really makes a difference in the eyes of the collaborators. Are you welcoming new employees from afar? Our advice in this article.
- Mentoring programs: the accompaniment of a new employee by a mentor is particularly interesting to set up when it comes to a distance taken. Mentors welcome newcomers to the company, offer their advice and share their expertise. Win-win: New recruits learn more about the operation of the company from experienced employees and, in return, bring new perspectives to their mentors.
- Salaries: Compensation is an important means of retention. Companies must adjust salaries regularly to remain competitive. If you cannot increase salaries at this time, consider other forms of benefits, such as paid bonuses and leave. Think about social benefits and pension plans. Benefits and fringe benefits contribute significantly to employee satisfaction today.
- Wellness promotion: the pandemic has encouraged many companies to develop and enhance their wellness offerings, which aim to encourage employees to prioritize their well-being: stress management programs, retirement planning services or offers for online sports classes.
- Effective communication: your employees must feel that they can freely exchange ideas, questions and concerns with you at any time. As a leader, you must install constructive and positive communication with your team members, whether they are on-site or remotely. Communicate regularly with each of them, to get a sense of their workload and a level of professional satisfaction.
- Reward systems: We all need professional recognition. Showing gratitude to your employees is particularly important. So be sure to thank them for their participation, and explain how their work directly affects the growth of the business. Some structures implement formal reward systems to encourage initiative-taking, regardless of the size of your business.
- Work-life balance: Employees need to know that their leaders are mindful of their lives outside of work, and also recognize that maintaining this balance is even more difficult to achieve when working at home. Encourage your employees to set limits on their workdays.
- Flexible work arrangements: telecommuting or hybrid work is the standard today. Leaders who close the door on this evolution and require presentation work only send a signal of distrust to their employees and start the loyalty of their talents.
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