Hiring and retaining employees, especially top talents is a flex most business owners do not have. And if you’re a small business owner, experiencing high employee turnover can hurt your business growth, productivity and sustainability. The statistics on employee turnover rate keep going higher every year. Therefore, this blog post is a guide to help you not only attract the right employees you need for your business but also learn how to develop and retain them.
Ways To Attract, Develop And Retain Top Talents In Your Company
1. Build a strong business brand
To attract top talents to your business, you need to build a strong social media presence. Let your brand clearly state what you do, your company’s mission and vision and your company’s culture. Consistently communicate this across all channels.
More than that, utilize job posting boards and social media platforms to promote your job openings.
2. Prioritize your company culture when hiring
A company culture is the set of beliefs, values and behaviours that guide a company. This usually acts as a foundational strategy to put in place when building a business. One of the best ways to attract and retain your top talents is by prioritizing your work culture during the hiring process.
For instance, if you’re looking to hire content writers for your wellness brand and your company culture includes transparency and accountability. If you hire an experienced content writer who doesn’t align with your company values, there is every tendency for the employee to quit sooner rather than later. However, if you hire an employee who aligns with your company’s work culture, mission and vision but has less experience, that employee will grow with the business while staying motivated due to the work environment.
3. Set clear expectations during the onboarding process
Set clear short and long-term expectations during the onboarding process. Your new hires need to undertand their roles and how they fit into the business objective.
Additionally, pair your new hires with older employees who can mentor or teach them through their early days in the company. Your onboarding process should be designed in such a way that new hires get a sense of the business from the onset.
Also, you can set a probation period where employees who feel like they can’t continue can easily exit from the business. This helps to reduce random employee turnovers as it can affect your business growth and disrupt your work process.
4. Provide employee growth opportunities
To retain top talents in your company, you need to empower your employees with courses, seminars or even e-books. Your employees can grow and become leaders within the industry.
Encourage a culture of continuous learning such as online courses or on-the-job training. Additionally, host monthly or yearly workshops where top industry leaders talk to your employees about their career growth and advancement.
Providing opportunities for growth and encouraging your employees to pursue their professional development benefits the company and fosters a sense of community within the organization.
5. Foster a culture of communication and feedback
Host weekly or bi-weekly meetings where you assess employees’ progress, discuss current challenges and give feedback on strategies the company is trying to put in place. Additionally, encourage your employees to share their ideas, challenges they face during work and processes they think can help the company.
Utilize their feedback and act on it where necessary. This creates a sense of belonging within your organization and makes your employees feel involved in the decision-making process. Regular communication between leaders and employees in a business setting is key to retaining employees.
6. Promote work-life balance
To retain top talents, you need to offer remote work, a hybrid schedule and a flexible work schedule. Ensure your team members use their yearly leave to the fullest. Set clear boundaries after work and focus on employee output rather than hours put in. Little strategies like this can reduce burnout and help your employees feel refreshed during work hours.
7. Regularly assess your employee engagement
Employees’ engagement can be seen as the level of involvement an employee has towards their work. It can also be seen as the passion and motivation that drives an employee to work. Monitor your employee engagement to determine if their productivity level is still top-notch.
Communicate with your employees to understand what problems they might be facing on the job. An employee who isn’t involved in their work can’t put in their best at work.
Find ways to engage your employees. This could be by promoting them or giving them challenging tasks to spark their innovative abilities.
8. Offer incentives and employee benefits
As a business owner, there is a need to regularly review and adjust your employee’s salaries and compensation. Retaining top talent goes beyond just the salary. Employees stick to companies that reward their efforts and value their well-being. Put incentives in place to reward employees and motivate them to do more.
For instance, some businesses offer data stipend allowance to their employees. This builds a sense of inclusion and support.
9. Provide employees with the right tools and resources
Empower your employees with the tools they need to work optimally. Provide up-to-date software or hardware for your employees. Top talents are more productive and efficient when they have access to the right tools to help streamline their workflow. Additionally, employees feel comfortable in a work environment that exposes them to tools, technologies and resources for work.
10. Foster a growth environment- retain top talents
Create opportunities that encourage continuous development. Define promotion opportunities and grant your employees access to training that can set them up for those promotions.
Additionally, encourage your employees to share their ideas on how the business can move forward.
Conclusion- retain top talents
Employee retention is a strategy that isn’t talked about as often as it should. Hiring the best people for your business is just the first step in building a thriving business. Your ability to retain your employee is as important s your ability to hire them.
Therefore, it is necessary to go through this content and find loopholes that lead to employee turnover in your company. Implement the steps above and build a thriving business surrounded by the best team.
