The New Challenge is Retaining High-Performing Employees
BY: LUIS PINATE
Many companies devote large amounts of resources and effort to hiring the right employees. But the truth is that retaining high-performing employees is actually more important. The reason is that a staggering 35% of employees may leave their jobs each year by 2023.
Because of this fact, it is crucial for your business to be able to retain all of your high-performing employees. Here are 4 important strategies to retain your high-performing employees.
1. CREATE A NEW HIRING VISION THAT IS LONG-TERM FOCUSED AND DIVERSITY-BASED
The pandemic has created massive turnover in many different industries. As a result, competition for talent has never been more fierce. This means that companies need to create a sophisticated hiring program that is future-oriented to identify future prospects using the right marketing strategies.
In order to do this, you have to think strategically about which roles will need to be filled. Create a solid plan to meet your hiring needs that will meet the diversity goals of your organization. You also have to make sure you have enough recruiters to handle your pipeline.
2. CREATE AN EMPLOYEE ENGAGEMENT PROGRAM AND A POSITIVE CULTURE.
(GIVE THEM A VOICE - PROJECT A SOLID CULTURE -IMPROVE MANAGERS/EMPLOYEES RELATIONSHIP)
Employees who are happy at work are much more likely to stay at your company. Keeping your employees engaged can keep them more satisfied at work. One of the best ways to keep employees is to give them a voice. Ninety percent of workers say that they are more likely to stay at a company that takes and acts on feedback. So, make sure your company is responsive to employee feedback. Employee surveys are an excellent way for your company to get employee feedback. Creating a welcoming, supportive, and positive culture would be best. Having a good company culture is crucial for keeping employees happy at work. 77% of workers consider a company’s culture before applying.
Additionally, you should regularly provide recognition to employees who are performing well. Companies that recognize employees multiple times a month are 41% more likely to see increased employee retention. Further, you should take steps to identify and prevent employee burnout. Burnout prevention steps can include coaching, mentoring, giving employees time off, improving communication, encouraging healthy eating, and exercise.
3. MAXIMUM ATTENTION AND PRIORITY TO INTERNAL PROCESSES OF :
(INTERNAL HIRING – CRITICAL POSITIONS PLAN – MILLENNIALS AND GENERATION Z PLANS)
Employees are more likely to stay at a company if they believe that they will be able to move up the ladder and advance their careers at the company. So, you should create a solid career development plan for your employees that includes a planned sequence of formal and informal experiences to assist employees in achieving their career goals at your company.
Hiring internally is also important because it can help companies save time and money. This is because companies don’t have to pay advertising fees or relocation fees for candidates already within the company. Also, current employees are already fully onboarded with the company and adjusted to the culture. Every company should have a critical positions plan for quickly filling essential roles within the company. Internal hiring can be a vital part of an excellent critical positions plan.
In addition to making employees feel that they can advance their careers at your company, you have to guarantee that your company supports the things that your employees care about.
WHAT GEN Z CARES ABOUT AT WORK :
AND MENTAL HEALTH
THAT WILL ENABLE
THEM TO MAKE A DIFFERENCE
4- REDUCE ONBOARDING TIME
It can take a new employee up to two full years to reach the same level of productivity as an existing staff member. Some new employees can get very frustrated while getting up to speed, which can cause some of them to leave the company. So, making them feel comfortable and capable at the outset can do wonders for retention.
Your company can help new employees shift from outsiders to insiders by educating them about their responsibilities, giving them the agency and resources needed to complete their tasks and goals, and creating an environment where they feel accepted. The goal is to make them feel as comfortable and welcome as possible.
For further assistance implementing strategies that help you to retain your high-quality employees, feel free to get in touch today by calling 786 828 9568. or email me at firstname.lastname@example.org
AGILE CONSULTANTS GROUP
EXECUTIVE CONSULTANT & STRATEGIST
ABOUT THE AUTHOR
With more than 25 years of corporate experience in different management positions. Master's degree in marketing, and other advanced studies and certifications from Harvard Business School and the University of Miami. Luis A. Pinate has been exposed to extensive professional challenges within complex organizational structures in international markets like China, Japan, the Middle East, Europe, North America, and Latin America.
His experience in international marketing and sales acknowledged him of multi-million dollar deals, mergers, acquisitions, global market developments, and new product launches.
For the last 11 years, Luis has been teaching leadership skills, effective communication, sales, international marketing, eCommerce, mentoring, and coaching professionals and business owners to maximize their performance.
Author of "The Secret Success Methodology" and Corporación, Sobreviviendo la Jungla.