Hiring costs about 50% of the specialist’s annual salary, including posting a job on search platforms, employee onboarding, and training, as well as a possible intermediate loss of productivity.
In some industries, the shortage of personnel is intensified, first of all, this pattern is observed in IT and cybersecurity. According to the Work Institute, by 2023, employee turnover will increase by 30% worldwide. Therefore, companies of all ranks need to think about their strategies for retaining staff.
Retaining With Projects And Values
It is important to bring together those who are interested in a particular company and tasks, and not just in high wages, which could be a key factor in making a decision on choosing jobs available in Partners Personnel. If initially hire the staff competently, then concerns about how to retain employees can be minimized in the future.
Solving the personnel problem by simply raising the salary, promising regular bonuses, and other monetary motivation options is inefficient. Firstly, these are large and not always justified expenses for the company. Secondly, there will always be an employer who is ready to pay more for a good specialist, and there is a risk of being left without valuable staff.
So, not only HR evaluates a specialist at an interview, but the specialist himself gets acquainted with the corporate culture of the company, and its activities, and analyzes possible prospects. A potential employee decides whether the company matches his internal values and how interested he is in the proposed projects – whether he wants to be involved in a particular one.
Assistance In Adaptation
The main value of any business is its staff. The lack of information about the life of the company within the organization can be compared to the lack of vitamins in the body. Corporate values are of great importance and at least provide the necessary level of company efficiency.
This includes quick feedback from the first day of communication with a potential employee and the desire to help with adaptation and integration into work processes. There are many options for onboarding, from assigning each new employee a mentor for a set period to providing employees with the necessary resources to reveal their own potential.
Encouraging Employee Initiatives
Talented professionals are often very active people who strive to move up the career ladder and implement their own projects. It is important that top management does not disregard proposals and initiatives.
The best solution is to listen to what projects employees want to participate in, and what ideas for product development they offer. Give them the opportunity to feel like part of a team and a big company – at any stage, it is important to see the value of their work, which is expressed not only in the amount of salary.
In companies where employees can show themselves, people are 100% involved in the work process – they are active and interested in achieving results. These are the companies that easily attract and retain the best employees.
Evaluation And Feedback
A business needs to see the performance of its people and understand the amount of effort that everyone puts into it, but there is a fine line between the level of evaluation and control required.
If it is not followed, employees will experience stress; this will begin to affect their productivity. In addition, it is important to conduct evaluations not in order to punish the inefficient personnel but in order to stimulate employees and improve their professional level.
After passing the assessment, the employee receives a detailed report with the results for each competency, an understanding of their strengths and potential development areas, as well as gets valuable recommendations and an individual development plan. Finally, investing in your current employees costs less than hiring and growing new ones.
The tactics mentioned above for increasing employee motivation and retention apply not only in the office but also with hybrid and remote teams. If you combine such approaches and invest in the development of the company’s HR brand, you will be able to effectively retain personnel.
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