Retaining exceptional talent.
The following article aims to inform companies about the importance of retaining their employees. As it is known, a company that aims to stay in the job market must ensure the stability of its employees. The positive outcome of a company is directly related to its workforce. Additionally, hiring, onboarding, and replacing an employee can cost around 50% to 60% of their annual salary.
Likewise, the hiring process is not an easy one, and a significant amount of time, energy, and money is invested in constant turnover of personnel.
It is normal to lose some employees along the way, but it is important for companies not to be the cause of their employees leaving. To avoid such situations, the most effective approach is to implement a retention plan, as it is a fundamental tool for preserving talent. Below are some points that HR teams use to keep their employees happy and engaged:
1. Good hiring practices: When hiring a new employee, it is essential to consider if the candidate is the right fit for the company’s culture and if their values align with ours. Also, honesty and transparency with the candidate are crucial so they can see if the position is truly what they are looking for and not create false expectations.
2. Motivating communication with employees: Providing positive feedback to employees from time to time increases motivation and happiness in the workplace.
3. Offering continuous training and professional development: Providing continuous training to employees helps them see growth within the company and set bigger goals within it.
4. Well-being programs: Considering employees as individuals and not just machines is crucial. Overburdening employees can lead to higher turnover rates. Mitigating the stress of employees is essential for improving the work environment.
5. Creating a flexible work environment: Due to the pandemic, employees discovered the benefits of remote work. This new trend is now one of the key points for employee retention, as workers know that a hybrid work model improves their quality of life.
These are some of the points that HR teams use for employee retention. Do you already use any of them? Do you believe that more companies should prioritize their employees’ well-being?
