Losing your top talent impacts productivity, forcing you to recruit and train someone new. It also means that a top performer will join your competition.
When the market is strong, employees look around — even the seasoned and loyal. Roughly one in four employees, plan to look for a new position, this year.
What are the keys to retaining your top talent and ensuring high productivity? Here are three ways to keep your leading performers from going elsewhere.
1. Communicating The Company’s Vision and Mission
Outlining your company’s mission, and where your business is heading in the future, creates a sense of purpose with your staff. Employees, particularly millennials, want to feel as though they are contributing to something great. Allowing them to see where you are heading, as well as the path to get there, will give them increased motivation, a stronger sense of team and purpose.
2. Define Clear and Measurable Paths to Growth
Great talent wants and needs to grow. When they feel as though their employer is helping them to achieve learning and advancement in their career in meaningful ways, retention rates soar.
Allowing employees to attend conferences, take paid courses, or participate in projects that broaden their experience, are crucial in demonstrating that you are committed to their growth. During reviews, layout measurable goals and clear benchmarks for attainment, making it clear how they can get to the next step (both in salary and responsibility). You will reap the benefits of more engaged employees, while it ensures your business high productivity levels and innovation.
3. Allowing Work-at-Home Options
Flexibility and work-at-home options are an excellent way to retain top talent. Surveys show that nearly 80% of full-time employees would like the option to work at home in some capacity.
Fifty-nine percent of companies had a work-from-home option in 2011, compared to just 13% in 2006. That’s a 353% increase in just five years. The number is projected to rise even more going forward.
There are many reasons employees find teleworking to be a great benefit. Some want a more flexible schedule for family or childcare reasons. Others can cut down on time spent commuting — hence making them more productive.
These tactics along with others found here, are what help successful companies such as Google use to keep retention rates high among their top employees. All businesses begin and end with people. Keeping your employees at the forefront, ensures high retention rates and increased productivity.
Need help getting top talent. Contact our staffing agents at Gainor, today!