5 Steps to Improve Employee Retention
Employee Retention Strategies to Implement for a Strong Team
When you land that perfect employee, you want to hold on to them as long as possible. Unfortunately, employee retention isn’t always an organization’s best attribute. If you find yourself losing too many valuable employees, what can you do as an organization to stop the migration?
1. Be the Role Model
Mentorship programs work if they have the right people in place. You need a leadership team that knows how to pair the right mentor with the right employee. This is sometimes part of the onboarding process, and it can really improve how a new employee integrates into the team and establishes a positive feel for their new company, and that can be a lasting impression.
2. Openly Communicate
How often do your lower level employees hear from or interact with your CEO? Organizations with high retention rates have excellent communication procedures in place, which means there is a nearly seamless flow of discourse between everyone. It’s important not to stifle conversations, which might include a degree of complaints being aired or recommendations being offered.
3. Make Compensation a Priority
If your employees are your most valuable asset, be prepared to offer them what they’re worth. This includes more than just salary – it can include offering perks, like work-from-home opportunities, excellent healthcare packages and retirement plans.
4. Continuing Education
Development training not only benefits what your employees can do for your organization, it also fulfills their desire to expand their knowledge base. Furthermore, when you invest in their education/development, it shows that you care about their needs, prompting an enhanced feeling about where they’re employed, which improves employee retention.
5. Hire Smart
Organizations that go beyond the traditional interview process when bringing in new talent have better success holding on to their valued employees. Instead of playing the guessing game in regard to which applicants will fit your company culture, utilize science-based processes to find the right people the first time around.
Utilizing the Predictive Index (PI) is a method of hiring smart that has been around for decades, but is still a new topic for many organizations. Using the behavior assessment, PI experts can determine a number of factors about a person that a resume and interview simply can’t provide. They can determine whether or not they will align with the company culture, and if they do, the behavior index is also used to determine which teams will be the best fit for them.
At PI Consulting Group, we’ve helped many clients hire the best possible people for their unique company culture. Our science-backed methods are based on behavioral and cognitive assessments. The assessments are easy to take and our PI certified partners will be there to help you every step of the way. Don’t miss out – bring us into the mix today so we can improve your employee retention rates and help you reach your goals.