Five Ways to Maximize Employee Retention

Outplacement consulting

Employee retention poses a problem for many companies, with 57% viewing this issue as a problem. The hiring process poses many problems for companies, from sorting through the applicant?s resumes to the man hours spent by existing employees training new hires, and these problems also include significant expense. These problems often lead companies to outsource the hiring process, looking to outside experts, like hr executive recruiters or outplacement companies, to find candidates for them. Addressing a low rate of employee retention can be outsourced to those same hr executive recruiters, outplacement companies, and talent acquisition services, who have a great deal of insight on the best practices for employee retention. Here are five of the best suggestions.

  1. Have a Script: In some situations, a relaxed, unscripted environment can be beneficial in a business setting. Onboarding new hires is not one of them. One study found that 58% of new hires that progress through a structured onboarding program are still employed with the same company after three years.
  2. Match Skills: An employee?s ability to perform largely determines their ability to perform well in a position. This might appear obvious, but a survey conducted by Robert Half found that 38% of executives blame a poor match of skills as the reason for a poor hiring decision.
  3. Clear Goals and Expectations: An employee that does not understand what is expected of them on a daily basis cannot reasonably be expected to perform well in their role. Furthermore, they are unlikely to be satisfied with their position. It is beneficial for both parties for a company to clearly define performance objectives as a result.
  4. Focus On Diversity: Studies have shown that gender diverse and ethnically diverse companies outperform those that are not. Inclusive environments that function inspire job satisfaction in employees.
  5. Employee Recognition: Companies with an established program to recognize exemplary performance experienced a rise in the happiness of employees upon implementation. People simply perform better when they?re happy, and knowing their hard work will be recognized helps to ensure that.

Nothing can ensure that every person hired will be successful with a company, life holds too many unforeseen circumstances. However, businesses will need hr executive recruiters and executive staffing agencies less if they implement the five suggestions listed here.

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