Don't Forget the Other Side of Recruiting
JobsInPA.com
There are two ways to ensure proper staffing at your organization. Recruiting new candidates is an obvious way, but don't forget about retaining the qualified people you already have.
Recruiting and training costs aside, losing valuable employees and having to hire new replacements - coupled with a tight budget - costs much more than meets the eye.
You're losing:
- Company knowledge that you won't get back right away - if at all
- Productivity during orientation and training, which could set you back two to three months
- Morale issues during transition times, especially if many people relied on the person who left
So, how do you retain the good ones?
Cultivate a culture of loyalty
With upper management’s buy in, cultivating a loyal culture is an amazing investment. Increased salaries and better benefits can go a long way, but the most important loyalty-builders often cost little or nothing.
A culture with flexible scheduling and a positive work environment can make employees happy. Studies show that happy employees stay with their employer – even if they receive a more lucrative offer.
Employees really don't want to leave, but are often pushed out the door by bad managers, less than ideal working conditions, and/or the feeling that they are not getting the recognition they deserve.
All of these things can be changed - and must be changed - for companies to be able to retain their best workers.
Create A Top-Notch Recognition Program
Talented, hard-working employees are not likely to stay in a job - even if it pays well - if they feel they are being taken for granted. Everyone needs validation that their contributions are making a difference to the organization.
Many companies don't have formal recognition programs in place, and if they do, they are ineffective. When not executed correctly, recognition programs could be viewed as a joke among employees, lowering moral rather than raising it.
A successful recognition program has:
- Fairness
- High visibility and consistency
- Thoughtful rewards and presentation
- Buy-in by top management
Other factors that could help:
- A diverse employee reviewing committee
- Company-sponsored mandatory management training that includes recognition training
- Heavy internal promotion of program
As your company changes over time, it's also a good idea to solicit feedback from employees, asking how the recognition program is going.