Hey Guys, one of my favorite topics in terms of Human Resources. How to achieve employee retention? Well, I’ve been in some companies around the last couple of years and I saw that many of them couldn´t care less about it. Whilst seeing this, I told myself “With me as a manager it´s not gonna happen!” Talk is cheap. We all know that, but I´ll show how it´s possible to manage it.
Employee retention measures help companies to retain employees in the medium to long term. Above all, they are designed to ensure that high performers remain within the company. This is called selective employee retention.
Instruments for employee retention are therefore positive incentives, not coercive measures or threatening backdrops. In the best case, you build up incentives to motivate each and everyone in the best way.
Make sure the employees stay in your firm
With great employee retention you could keep the fluctuation in the company low and your employees happier. A further plus could be, that you improve employer branding and position yourself both internally and externally as an attractive employer. This could lead to your employees will talk well about your company and other´s will know it. Given that fact, employees will stay within your company, you obviously reduce separation costs when an employee leaves (e.g. for severance pay, job advertisements, selection procedures, induction, headhunters, etc.) In Addition to all these advantages, you´ll improve the working atmosphere and increase productivity in the company.
By the way, studies have shown, that employees who feel emotionally connected to their employer are happier, healthier and more productive. They sleep better, are absent less often due to illness. Not really surprising, right?
You would draw a wrong conclusion from it if you implement a prototype solution for everyone. I can´t work the same way for all of your employees.
Does the measure fit in with my workforce?
Am I credible with implementing this?
Am I trying to cover my weaknesses with this? Your employees will find out!
What do my employees actually want? Perhaps the most important aspect at the end: the wishes of the employees. The best intentions are futile if they do not meet with approval. An employee survey can help.
But it´s needless to say every company has employees not worth it. On the other hand, there are employees you won´t lose at all!
But if a top performer breaks away, the company not only loses valuable expertise. At the same time, a race for succession begins. The personnel office and headhunters want to be activated, job advertisements placed, job interviews conducted. (e.g. High performers, talents, and specialists)
How do you recognize such employees?
Which employees deliver outstanding performance?
Which employees are expected to deliver outstanding performance in the future?
Which employees are most important for the success of the company?
Which departments, functions and positions are decisive for the future of the company?
Where does the greatest added value currently take place – and where in the future?
Which employees have the potential to take on tasks with greater responsibility or added value?
After all that the work begins to find out what talent to improve and who to improve in general.
So, I hope you enjoyed reading this article!