I’m sure the title of today’s article is no surprise to anyone. When it comes to the game of business, the winners are those organizations that can hire, engage, and retain the best talent. Everyone knows retention is important.
The challenge with employee retention is knowing how to deal with it. What steps should we take to reduce turnover and improve retention? Here are a few articles that can help organizations create an optimal employee retention strategy.
Turnover is a critical issue facing business today. Recruiting efforts struggle when turnover is high. Here are the results from an HR Bartender survey showing the top 5 reasons why employees leave their jobs.
Proactive and strategic HR management is a key part of business success. Find out four ways that HR can help reduce turnover and achieve business goals.
Stay interviews could help managers identify employee flight risks. Technology can facilitate having regular, open communications between managers and employees.
Analytics offers useful tools to help HR manage critical issues. Use these 4 levels of analytics to solve the problem of employee turnover.
Employee turnover is expensive. I don’t know that it’s realistic to think that organizations will have zero turnover. But that doesn’t mean all turnover is acceptable. Companies need to decide how much turnover is okay for the company and work toward keeping their turnover numbers within an optimal range.
That involves having discussions about the drivers of employee retention and making an organizational commitment to retain employees. Companies ready to address employee retention must do more than simply talk about it. Or just create a program. Employee retention involves employee development, management training, competitive pay and benefits, and regular rewards and recognition. It won’t happen overnight. And finally, it’s a commitment that organizations need to focus on always.
Image captured by Sharlyn Lauby while exploring the SHRM Annual Conference in Las Vegas, NV19