Talent Retention Tips for Better Workplace Management
How Important is Talent Retention in Your Organization?
Are you putting as much effort into talent retention as you are into talent acquisition? It’s vital to onboard the right people onto your teams, but equally important is how you manage that talent. If you lose good talent on a regular basis, it is costly for your company. In fact, it’s estimated that disengaged workers, which are the ones who leave and find employment elsewhere, cost the economy almost $300 billion a year.
Open the Floor to Questions
Turnover can be a result of poor communication. When you see a team that loses member after member in short succession, it’s tough to determine what’s going on unless you ask questions of your employees and provide them an avenue to make inquiries.
They might feel that they have no job security or that there is a lack of direction. They likely feel little cohesion with their other teammates. When you open up the communication channels, you find out what’s bothering them and make efforts to improve in those areas.
Compensation is Lacking
While there may be a lot of emphasis placed on your employees buying into your company culture, they will find that challenging if they aren’t properly compensated for their efforts with your organization. Have your insurance premiums spiked recently? This can cause some dissatisfaction among your employees, which means you might need to shop around for a better deal.
Look around at what your competition is paying and offering as perks. For example, many in the workforce today want more options in how they contribute, such as work from home opportunities. Gage what your employees consider valuable and make attempts to offer it to them.
Retention Begins with Hiring Smarter
By utilizing the predictive index with behavioral assessment, companies can make sure that the people they bring on board are going to be a good fit from the beginning. The behavioral assessment is an easy process that only takes a few minutes to complete, and when analyzed by a predictive index professional, reveals which employees are going to fit your company culture and match up with your current workforce to complete objectives together without conflict or with minimal conflict.
At PI Consulting Group, we’re the predictive index professionals ready to assist you in improving talent retention. Contact us today and let’s get started on saving you money and making your teams more productive.