There is nothing more self-defeating to a company’s success than high attrition rates.
Everything that you are doing to invest in your employees is ultimately going to benefit someone else.
When we look at companies that have success and are leaders in their space, the Number 1 indicator is the ability to GROW & RETAIN Top Talent.
That is why every company should strive towards a dynamic employee experience that leads to success and retention.
When EMPLOYEE ENGAGEMENT is a key component of your corporate strategy, in terms of priorities, everything else just seems to fall into place!
Ironically, most companies prioritize customer satisfaction over employees, not realizing that it is virtually impossible for unhappy employees to make happy customers. Most organizations undervalue employee engagement and think of it as a temporary program. They fail to realize that the only way to capitalize on employees’ talent is to turn their engagement data into an asset that will help cultivate team synergy, drive positive business outcomes and improve their presence within the communities they serve.
Consider the employee experience. If you exert the same efforts and resources as you do for customer experience to your employee experience, your company will benefit from improved talent retention, which directly impacts positive gains in ROI, brand imaging, and company reputation. It’s much wiser to focus on allocating resources to prevent a high turnover rate instead of bearing time-consuming and costly turnover costs.
Similarly, a better reputation attracts top talent, improves an organization’s productivity and revenue, which leads to a dedicated, more efficient workforce.
To determine how to drive employee engagement, you need to understand the full cycle of employee experience involving attraction, recruitment, onboarding development, and retention.
It doesn’t matter how great your products or services are if you are not equipped to effectively compete in today’s war for talent. Being able to ATTRACT and KEEP Top Talent is a mandatory requisite for any company hoping to survive in today’s ultra-competitive world.
To attract candidates, your company must create a clear mental perspective. You do this by building a positive reputation through brand awareness, establishing an competent, inclusive culture, and providing competitive total rewards package (including compensation and benefits).
Consider investing in a marketing plan which focuses on the employee experience, sharing short videos on social media platforms and your corporate website. Investing in this kind of advertising helps attract top talent while also gaining the additional benefits of increased brand awareness. With all things being equal, consumers will, hands down choose a company whose reputation is known for treating their employees well.
We are currently experiencing a historically fierce competition for talent, and candidates know it! To recruit the best talent for your company, consider trying these methods:
- Build a working relationship with an Executive Recruiting team like add your company here!
- Start with your current workforce. Great people know great people. Spread the hiring announcement across internal platforms. Highlight your referral program.
- Be clear on your job profile for the ideal candidate, so you can recognize them when they apply.
- Consider creating a short video to provide a snapshot of your company culture.
- Celebrating someone’s birthday at work? Capture that warmth on a video that you can use to provide a glimpse into the happy & satisfying vibe of your particular office.
- ***Double your investment by doing fun things for your employees, and then use that as a marketing tool!
To make sure that new hires feel welcomed into your company, implement the following practices:
- Prior to the start date, reach out to your new hire to further discuss details of the role.
- Engagement soars when people are confident that they understand what is expected of them!.
- Highlight the company’s mission, vision, and values.
- Share company expectations and how the role impacts the success of achievement, ideally broken down by daily, weekly and monthly goals.
- The first 90 days are critical. Set appointments to ensure you connect with your new hire for a 360 conversation on their experience to date. Any concerns should be addressed immediately.
- Lead by Example!
To keep your employees motivated, the company must provide ways for their professional development. The following are some tips to improve in this area:
- Create a budget for external learning opportunities and share.
- Work together and assess their skills and interest.
- Don’t micromanage them and provide them autonomy.
- Empower them to succeed!
- Determine their motivation for good performance and reward accordingly!
Again… determine what motivates their success. ***Get more traction out of your investment here…..consider CELEBRATING YOUR EMPLOYEES ‘Wins”, and videotaping to capture the fun extra opportunities, then using that footage to advertise your company to potential new hires.
To encourage top employees to stay committed to your company, consider applying these tips:
- Hire the right talent for the role’s success.
- Cultivate good relationships among team members.
- Openly talk about the company’s aspirations and goals. Get them vested in the company’s success.
- Foster a 360 feedback culture. Acknowledge and implement feedback.
- Understand the motivating factors of each employee.
- Create an ethical system that allows employees to share concerns & grievances and follow-up on each.
- Conduct weekly/bi-weekly huddles and Quarterly Check-Ins, spending a minimum of 30 minutes one on one with each employee, with the focus being on active, respectful listening, and asking open-ended questions. Remember to meet bi-weekly as a team (or more often depending on need).
- Celebrate the Positives! IDENTIFY barriers and co-construct solutions.
If you’re looking for an executive recruiting search firm that can help you find the perfect people for your company, connect with the professional executive recruiters at International Search Consultants.
Contact them today!
Ann Zaslow-Rethaber is President of International Search Consultants. You can reach Ann direct dial at 888-866-7276 or via email at .
Sanserrae E. Frazier is a Human Capital professional with 20 years of experience. She is a passionate proponent of upscaling your workforce and improving the overall cultural competence within in the workforce. You can reach Sanserrae via her LinkedIn profile.