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What is Employee Retention ?
Employee retention is the organizational goal of keeping productive and talented workers and reducing turnover by fostering a positive work atmosphere to promote engagement, showing appreciation to employees, providing competitive pay and benefits, and encouraging a healthy work-life balance.
How COVID has changed the Workplace structure?
The Covid pandemic brought colossal change to the way people looks at—and lives—their lives. Those changes are particularly evident in the view and conduct their work.
⦁ 56% of 125 million full-time U.S. workers said they don’t have to be in the workplace anymore because they discovered—thanks to the pandemic—that they can do their jobs from home.
⦁ A staggering 90% of U.S. employees with office jobs are not longing for the old workplace to return, and nearly 40% of them say they would change jobs for the option to work full or part time from a flexible (non-office) location.
How do Employers hire and Retain Quality Employees?
Attracting and retaining talented employees in this digital age requires a combination of strategies aimed at creating a positive work environment and providing opportunities for growth and development.
Here are some effective ways to achieve this:
Hiring Process:
Article is helpful, especially for the recruiter or the companies who are willing to conduct the hiring process soon. You should keep few things in mind while hiring Quality employees discussed below:
1. Look for a Committed Employee
You need to hire a committed candidate for your company. It is not only problematic if the employee you hired leaves the job in a few months as the project they were working on will be left hanging, but you will also have to go through the whole process of hiring an employee to find a new employee.
2. Conduct Different Tests
To test the candidates, you must use different methods so you can test their analytical as well as learning skills. Do not assume that a candidate is fit for the job based on just their resume. If the candidate seems confident, that is a great quality but putting them through some tests.
3. Check Compatibility
You do not want to hire an employee that does not fit your company culture and regret later. Company culture has become highly important these days as it leads to employee experience and your brand image. So, before hiring an employee, you must check if they are compatible with your company.
4. Improve Hiring Process
Hiring Process is not a one-time thing. Keep improving and you must mainly focus on when hiring new employees such as instead of asking them random questions, you must get to know them, their skills, and their potential.
Tips for retaining Quality Employee
- Competitive Compensation and Benefits:
Offer competitive salaries and benefits packages to attract top talent. This includes health insurance, retirement plans, paid time off, and other perks that contribute to a satisfying work-life balance. - Career Development Opportunities:
Provide clear paths for career growth and development. Offer training programs, workshops, mentorship, and opportunities for skill enhancement to help employees progress in their careers. - Recognition and Rewards:
Recognize and reward exceptional performance and achievements. Celebrate employee accomplishments to boost morale and foster a culture of appreciation. - Positive Work Culture:
Cultivate a positive and inclusive work culture that values diversity, promotes collaboration, and encourages open communication. - Employee Engagement:
Regularly seek feedback from employees through surveys or one-on-one conversations to understand their needs, concerns, and ideas. Act on the feedback to improve the work environment. - Opportunities for Autonomy:
Provide employees with a sense of autonomy and empowerment in their roles. Allow them to make decisions and take ownership of their projects. - Strong Leadership:
Foster strong leadership that inspires and supports employees. Effective leaders create a positive work culture and lead by example. - Remote Work Opportunity:
In this digital age, remote employees are more productive than their on-site workers/ office workers. The reason is that they are less likely to take time off and quit. The office work environment may cause stress. On the other hand, Remote work provides a better work-life balance, personal space and increase flexibility.
Conclusion
Navigating the complexities of attracting and retaining top talent in the digital age requires a holistic approach that embraces change, fosters connection, invests in growth, balances work and life, and leverages technology. As management guru Peter Drucker aptly put it, “The greatest danger in times of turbulence is not the turbulence – it is to act with yesterday’s logic.” By aligning your strategies with the realities of the digital age, your organization can unlock new levels of success and productivity.
