Retain Your Employees to truly reduce your Recruitment Costs

8 Ways To Retain Employees

8 Ways to Retain Employees

Retain Your Employees to truly reduce your Recruitment Costs

You’d think that as recruiters we wouldn’t want to encourage employee retention. We do though.

Why?

Well, put quite simply, there’s plenty of opportunity without wishing bad on our clients. The Dept of Labour estimates about 3 million Americans quit their jobs MONTHLY. Indeed reports 180 million unique visits a month. And work on there being roughly 6.6 million jobs posted at any one time.

From my perspective, there’s always somebody who wants to talk to me.

Our job is to find somebody who will stay, I’m ok never filling that job again.

Our clients’ role is to create a workplace that ensures that continuity.

In my last article I talked about the counter offer. This is a knee jerk reaction to somebody wanting to leave. Ironically enough, even if they accept the counter offer they leave soon enough.

Interestingly, in one study 58% of managers reported making counter offers while 87% of HR Managers in another study reported that employee retention was a critical issue. Those numbers don’t gel, one is a total reaction, the other is a strategic decision.

So what can you do to ensure that you retain the best and the brightest in an economy that is boiling hot right now?

  1. Offer the opportunity to work remotely. This article indicates that you can get up to 25% less turnover just by not having to see the people that you manage all the time.
  2. Consider very seriously what your offerings for training and education are and if there is a real or perceived gap by your employees. We all want to learn new skills and as Abraham Lincoln said “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Often it’s good to ask what people want rather than offering what you think they need, as the popular line in sales goes ”perception is reality”.
  3. Recognize valuable contributions. The top 20% of companies have 31% lower employee turnover. And don’t get hung up on length of service, 86% of employees don’t care. You shouldn’t.
  4. Be a flexible employer. What does that mean? Anything from taking time off to take your kid to the doctor to a much needed sabbatical. And if you’re not sure how to start, try here.
  5. Give purpose to your employees’ work. Then sell it! This way you attract staff who work for purpose and research has shown that those people tend to be high achievers. This research shows that people who work mostly for money or recognition tend not to be as motivated.
  6. Pay an appropriate salary. This one may seem a bit obvious but very often a counter offer that by necessity goes straight to the dollars suggests one of two things; either this person was being underpaid initially or you’re willing to overpay them now. Ultimately, neither is a good scenario.
  7. Recognize and remediate employee burnout. The average American takes 5.4 days of vacation a year. France has just passed legislation protecting employees from having to answer emails off hours. If you live in Finland or Brazil you’re getting close to 30 workdays off a year. Get over the Protestant work ethic. Besides time off, think about fun and engagement as helping to overcome the challenges.
  8. Foster social connections at work. Less than a third of workers without social connections were happy at work while 69% with those social connections report being engaged. The ping pong table in the lunch room is a bit of a clumsy way to build corporate culture but if it gets people socializing it has a benefit obviously.

What employee retention strategies do you employ?

68 thoughts on “8 Ways To Retain Employees”

  1. Howdy! I just wish to offer you a huge thumbs up for the great information you have got here on this
    post. I’ll be returning to your site for more soon.

    my webpage – g even

  2. It’s remarkable in support of me to have a web page,
    which is good in support of my knowledge. thanks admin

    Feel free to visit my blog: people g

  3. It’s nearly impossible to find knowledgeable people for this
    subject, but you seem like you know what you’re talking
    about! Thanks

    My blog :: g rsacwgxy

  4. If some one desires to be updated with newest technologies
    then he must be go to see this web page and be up
    to date daily.

    Feel free to visit my webpage; cbd oil (tinyurl.com)

  5. Hi to all, the contents existing at this web site are in fact remarkable for people
    experience, well, keep up the good work fellows.

    Also visit my website cbd oil (tinyurl.com)

  6. I am not sure where you are getting your information, however great topic.
    I must spend a while finding out more or figuring out more.
    Thank you for excellent info I was searching for this info for my mission.

    My web page … cbd oil (ecoups.net)

  7. Hey I know this is off topic but I was wondering if you knew
    of any widgets I could add to my blog cbd oil that works 2020 automatically tweet my newest twitter updates.
    I’ve been looking for a plug-in like this for quite some time and was
    hoping maybe you would have some experience with something
    like this. Please let me know if you run into anything.
    I truly enjoy reading your blog and I look forward to your
    new updates.

  8. You really make it appear so easy together with your presentation but I in finding this topic to be really one thing cbd oil that works 2020 I believe I might never understand.

    It kind of feels too complicated and very wide for me. I’m
    looking ahead to your next publish, I will try to get the dangle of it!

  9. Знаете ли вы?
    Зелёный чай может быть розовым.
    Планета — глазное яблоко может быть пригодна для жизни в одних районах и непригодна в других.
    Иракский физрук получил мировую известность под псевдонимом «ангел смерти».
    Залётная птаха занесена в перечень птиц России спустя более полувека после открытия вида.
    Искусствоведы спорили, смирилась ли со скорой смертью неизлечимо больная женщина на картине русского художника, а она прожила ещё 37 лет.

    arbeca

  10. I just want to tell you that I am just new to blogging and site-building and truly loved this page. Most likely I’m likely to bookmark your site . You really come with wonderful well written articles. Thanks for sharing your webpage.

    http://www.withapackofpizzaz.com

  11. where can i buy viagra in stores

    Great article. I find out something a lot more challenging on different blogs everyday. It will certainly always be boosting to read content from other writers as well as exercise a little something from their shop. I?d choose to utilize some with the material on my blog site whether you don?t mind. Natually I?ll give you a web link on your internet blog site. Thanks for sharing.

    https://judpharmacy.com/

  12. security doors for homes

    Hello, I think your blog might be having browser compatibility issues. When I look at your blog in Chrome, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, awesome blog!

    https://youtu.be/f4Sa8t2b-H8

  13. Tractor Workshop Manuals

    Hey There. I found your blog using msn. This is an extremely well written article. I will make sure to bookmark it and come back to read more of your useful information. Thanks for the post. I’ll certainly return. que es la gastritis

    http://partscatalog.sellload.com

  14. at is cos

    49e2 is super active overnight

    49e2 good choice is online sale

    49e2 is come comprarl

    49e2

  15. I was really happy to discover this web-site. I intended to thanks for your time for this fantastic read!! I certainly delighting in every bit of it as well as I have you bookmarked to take a look at brand-new stuff you blog post.

    https://judproducts.com/

Leave a Comment

Your email address will not be published.