How to Hire and Retain Good Employees?
An organization’s overall profitability is defined by its employees. But to hire and retain good employees is easier said than done. As Jim Collins, Management Guru rightly said “the single biggest constraint on the success of my organization is the ability to get and to hang on to enough of the right people.”
In order to attract the best talent, you, first need to be best yourself – your brand image and reputation in the market counts. Your overall brand image/rating in the market determines whether top resources will accept your offer. The image building process should majorly involve your current employees. Their reviews and opinion about you is what will enhance your market reputation.
In the below article we list down effective employee retention strategies and creative ways to attract employees.
Tips to Hire and Retain Good Employees
How to improve employee retention is the question most employers come across. Go through the following techniques to attract and retain good resources.
Use your assets wisely
Your employees, work culture and company benefits are the three most important assets to attract top talent and retain the existing team.
- Existing Employees – A happy workforce won’t think twice to advocate and share stories about the company. They will help save you on hiring by participating in employee-referral programs. What is better than getting recommendations from a current employee who is happy and has all positive things to talk about your company. You can rarely go wrong with the employee reference, because they only suggest people they think will be a good match.
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- Company culture – Culture is a big draw; it is important to showcase your ‘cool’ work culture to bring best talents to your company. An optimistic work culture shows that the company encourages creative and innovative work and values teamwork, initiative and exceptional performance.
- Company Benefits – Non monetary recognition has a positive effect on employee performance than monetary rewards. If you provide a ‘customize your package,’ over ‘one-size-fits-all’ option that will reduce your overall attrition rate and bring in more talent very quickly. A top talent appreciates training and development program offered by the company. So, if you have one, don’t forget to highlight it in your job description. Don’t forget that lack of training or learning is one of the many important reasons why an employee decides to quit the job. Moreover, offering ongoing training and development mean the company is serious about the employee’s growth.
Value and Nurture your Talent
An organization that invests to enhance their employee’s career is more successful in attracting and retaining good employees, than the companies operating with the ‘sink’ or ‘swim’ attitude.
In order to hire and retain good employees you need to win their trust and confidence first. Only if they are sure you genuinely care for them, they will work with you. Providing career enhancement programs that can add value to their career and can give your company an edge over the competition.
Handy Tips to Improve Employee Retention and Attract Right Employees
- Engage people who are in sync with your organizational values/goals
- Wherever possible use employee referrals to find the right resource
- Retain your current staff by paying attention to career planning and engagement
- Look for candidates with the skills, values and expertise to adjust quickly to your work environment
Follow these employee retention techniques to hold back your precious resources and bring in more talented people.
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William B. Young
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