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Imagine this: you find the best candidate for a job opening in your business. Everything is going perfectly well until they quit. You may not see anything wrong until it becomes frequent. The inability of an organization to retain its staff shows poor employee retention — the ability and effort to retain the workers.
People leave their workplaces for various reasons such as bad bosses, excessive workload, lack of recognition, poor relationship with coworkers, etc. On the other hand, employee retention brings benefits such as hiring cost reduction, morale improvement, more experienced workers, increased productivity, improved corporate culture, etc.
For a business to thrive, it needs to keep its best performing staff. So, it would be best if you did all you could to retain such workers. This article provides top recruitment strategies for improving employee retention.
Top seven recruitment strategies to boost employee retention
These strategies help with the recruitment process and boost employee retention ability.
Incorporate collaborative hiring
Collaborative hiring is a great recruitment technique that makes the employment process much more manageable. But did you also know that it is a great way to retain employees?
Collaborative hiring is a team-based hiring and recruitment method that includes team members from company departments for the various stages of recruitment. It breaks down traditional hiring models and helps you stay up-to-date with current employment trends.
This hiring method is usually more common during the interviewing process, where other staff members join the HR team to question job seekers. When this happens, you’ll hire people who’ll stay long-term with the company.
This is because your team members understand the values and goals of the business. So during the interview, they will identify candidates whose vision and objectives align with the company.
Another way to promote collaborative hiring is by implementing employee referral programs. This initiative encourages current staff to suggest the best candidates for job openings. Employee referral programs are successful because the promise of a reward drives workers to recommend the best talents.
Proper onboarding and orientation
If your orientation and onboarding process is not well executed, you might be reducing the possibility of retaining staff. The onboarding process is a continuous cycle of establishing engagement from the first contact with the new employee until they settle within the organization.
On the other hand, employee orientation — a stage in the onboarding process — is a one-time event where new staff learns about the company and their job responsibilities. Proper execution of both processes ensures your new hires have all the tools they need to succeed.
Providing this training and support during the initial stages motivates the employee to stick around. Apart from employee retention, other benefits of an excellent onboarding and orientation process include higher employee engagement, more effortless talent attraction, and stronger company culture.
Offering competitive employee benefits and compensation
Recruiting and hiring the right talent is highly competitive because there are many other companies searching for the best people to work with. So, if you do not offer competitive incentives, your staff will leave and likely join your competitors.
So, to avoid this by providing your employees, both old and new, with benefits they won’t get anywhere else. Also, competitive benefits and compensation result in job satisfaction, work-life balance, and increased productivity.
Examples of employee benefits you can offer include:
- Paid time off
- Vacation time
- Retirement plans
- Family and medical leave
- Life insurance
- Performance bonuses
- Disability insurance
Prioritize employee wellness
Employees are the backbone of an organization. If you do not treat them well, your business will suffer a critical hit. For example, if you notice that workers keep leaving after a particular time, it could be from neglecting their well-being. You can fix this quickly by creating an employee wellness program.
Employee wellness or well-being programs focus on improving your workers’ physical and mental health. It helps increase staff efficiency, morale, retention, reduced absenteeism, and health risks. Also, having an effective wellness system makes your company attractive to the best candidates.
Examples of employee wellness initiatives for increasing retention are:
- Providing healthy snacks
- Encouraging naps and adequate rests
- Promoting fitness at work
- Investing in ergonomic chairs
- Encouraging employees to get flu shots, eye tests, and other medical screenings
- Organizing social events
- Adding splashes of color to your workplace
- Working on your office interior design
- Organizing community service activities
- Having sport competitions
Implementation of rewards and recognition programs
Everyone likes being recognized and appreciated for their hard work. To retain your staff, implement a recognition and reward program. Employee recognition and reward is a system where you acknowledge your staff’s exceptional performance and efforts fairly and timely.
Having an effective reward program makes it easier to attract and retain top talent. Also, this system ensures employees feel valued, appreciated, and motivated to do more for the company.
Employee recognition programs are easy to organize and cost very little. For example, the following ideas may sound basic, but they are very effective.
- Learn to say “thank you” more often
- Give sincere compliments
- Give gift cards
- Award appreciation and recognition certificates
- Offer extended lunch breaks
- Take staff out for lunch
- Personalized gift boxes
- Distribute company SWAGs
Offer training and advancement opportunities
A great way to drastically reduce employee turnover is by offering constant training and career advancement opportunities. Doing this shows employees that you are concerned with their professional growth.
For instance, provide avenues for your workers to learn new skills. If you don’t, they’ll likely leave for a company that prioritizes their growth.
Other ways to invest in your workers’ professional development are:
- Giving them time to attend conferences and other industry events
- Providing tuition reimbursement
- Assisting with their educational advancement pursuits
- Teaching skills such as leadership, public speaking skills, etc.
- Organizing mentorship programs
Listen to employee feedback and ideas
Listening to your staff is an easy and inexpensive way to retain them. Workers who know they are heard are usually more engaged and productive. Employee engagement is the level of enthusiasm and dedication an employee feels towards an organization. So get them to share their opinions in public, conduct surveys, and request feedback.
Tools that help with employee retention
Different tools contribute to making your employee retention efforts a success. These include:
- Recruitment and hiring tools
- Performance evaluation tools
- Recognition and rewards tools
- Employee wellness tools
- Employee engagement and feedback tools
Recruitee – recruiting and hiring tool
This collaborative hiring software helps businesses build winning teams by bringing them together, boosting sourcing, and automating hiring. Also, you can effectively evaluate all the candidates that apply for job openings at your company.
Recruitee helps promote collaborative hiring, leading to better and faster recruitments. Finally, with the platform’s e-signature integration, you finish paperwork faster, reducing the possibility of losing top talents.
BambooHR – performance evaluation tool
Performance reviews and evaluations help employees know how well they have performed within a particular time frame. This pushes them to do better. Again, when employees realize you are concerned with their growth, they will be encouraged to remain at your organization.
With BambooHR, you can improve employee performance. This appraisal software enhances effective performance management by using brief questions to encourage action.
Additionally, BambooHR helps you create, track, and share individual and team goals. The automated reminders and notifications keep employees informed of their progression and completion. Finally, you can conduct these evaluations as often as you would like.
Perkbox – rewards and recognition tool
It is crucial to reward and recognize hardworking employees. For this reason, Perkbox makes it exceptionally easy to acknowledge and reward your workers.
With Perkbox, you can provide workers with over 1,000 perks and discounts. In addition, this platform allows you to cater for, connect with, and celebrate employees no matter where they are or what they want.
Wellable – employee wellness tool
Employees’ wellness is a priority, and Wellable provides thoughtfully-designed and holistic wellness solutions. This award-winning platform helps organizations improve staff experience and health.
Also, with a corporate wellness platform, you can promote healthy behaviors, enhance company culture, and increase productivity. Wellable also allows employees to engage in challenges, educational content, and unique wellness experiences.
TinyPulse – employee engagement and feedback tool
TinyPulse empowers you with the right tools and insights to build a culture where people flourish. Also, you can develop an employee engagement strategy that works. For example, workers’ surveys allow you to listen to their feedback and opinions.
It is not enough to listen to employees; you have to act on the feedback. This tool helps respond strategically. Finally, you can activate employees’ full potential and ensure they are at their best always.
Employee retention is crucial in any business; it is proof that you are doing something right. Also, it helps you stand out from the competition and attract the best candidates. This article discussed recruitment strategies to increase employee retention.
By following these seven hiring techniques, you can say goodbye to employee turnover and hello to improved retention and success.
Lydia Iseh is a writer with years of experience in writing SEO content that provides value to the reader. As someone who believes in the power of SEO to transform businesses, she enjoys being part of the process that helps websites rank high on search engines.