Employee Retention

7 out of 10 employers say that staff turnover has a negative financial impact on their company. Due to the cost of recruiting, hiring, and training employees, turnover costs can affect employers in more ways than one. 

Employee turnover and staff retention is a huge problem, and there are many ways for employers to try to minimize the problem. 

Here are six strategies to help employee retention:

  1. Hire The Right Person From The Start

Hiring the correct person for the job, from the beginning is very important. It is costly for companies to hire someone who doesn’t stay long. If an employee doesn’t seem like a good fit from the beginning, then they probably aren’t a good fit and they will end up costing your company a good amount of money. 

2. Salary and Benefits Must Be Competitive

Many applicants and candidates look for positions that have competitive salaries and benefits. All employers should consider having competitive wages and benefits, it will help attract top talent and if an employee is happy with their pay and benefits they will more than likely be happy in their position and stay with the company. 

3. Have A Workplace Full of Leaders

Few people have the characteristics of being a great leader, but shaping employees into leaders is key for a successful company. Having leaders that are available to employees is important, leaders in the workplace should be transparent and supportive. If your workplace has employees with these characteristics, then the company culture would be great for everyone. 

4. Create Employee Engagement Opportunities

Employees who are engaged in learning, are also engaged in work – these are the kind of employees that employers want. If employees feel supported by their employers, then they will be more comfortable and willing to learn in the workplace. 

5. Provide Positive Feedback

Providing your employees with positive feedback will motivate them to become better employees. Constructive feedback is also important, especially when deadlines need to be met. If employees receive positive feedback, and timely feedback they will feel confident and more comfortable in their role. 

6. Encourage Creativity and Independence

Almost all employees love being creative and independent in the workplace. When employers allow their employees to use creative thought in the workplace, they will feel like their opinion and ideas are valued and actually taken into consideration. Making sure employees feel like this at work is important, and will help keep them happy in their role. 

Employee turnover can be expensive and is something that all employers try to avoid. Some important ways to avoid employee turnover are listed above. If your company needs help with employee retention, let us know – AZ HR Hub is your #HRPartner, so you can focus on business! 

Recruiting Trends in 2021

Recruiting practices have changed so much in the past year – 2020 taught us to be prepared for anything and everything. From a global pandemic to racial justice movements, a progression that should’ve happened over a span of years instead happened over a few months. Employers and employees have always been on their toes, never knowing the next step. 

Now that we are a few weeks into 2021, we can start thinking about some recruiting trends that will help shape our workforce. To help you prepare for recruiting in 2021, we have put together some predictions for the upcoming year. Follow along to see how we think 2021 will pan out. 

  1. Remote Interviews

Remote interviewing changed the landscape of recruiting in 2020, it was such a hit for so many people, it will more than likely carry over into 2021. This trend was definitely brought on by the global pandemic but many people have adapted to it and learned to love it, so don’t be surprised if it is the go-to in 2021.  

2. Remote Work is Here to Stay 

When remote work was initially brought into the picture, many employers and employees were skeptical about it. Managing employees from a distance seemed to be scary, but once the pandemic hit, remote work was a must if you wanted to keep your organization running. Remote work has become the new norm, and many employers and employees prefer it over working in-office. 

3. Employee Experience

The COVID-19 pandemic brought so many obstacles into the workplace that ended up negatively affecting employee experience. With the new way of life, employers realized the importance of making sure their employees were taken care of – at work and at home. Supporting employees will always be a trend moving forward, making sure they are working in the best environment possible is how to keep everyone happy. 

Recruiting will continue to be changing and advancing, so we must stay on top of the current trends so we can continue to create better practices. AZ HR Hub can help your organization recruit the best candidates possible. We know the ins and outs of recruiting and we want to help you – we’re your #HRPartner, so you can focus on business! 

How to Create a Talent Management Process

If you want to get the best out of your employees and attract new talent, you must implement an efficient talent management process.

Employees are the most important part of an organization, offering passion, personality, hard work and unique assets from all angles. This is the mentality you should have when developing your team – and your talent management process.

Some employers act on the notion that workers can be replaced, viewing them not as humans but as machines that simply get the job done. Instead, you should recognize and build on superior talent within your organization, focusing on their personal strengths and interests, and how they fit into your business.

Such a strategy is known as a talent management process, which seeks to recruit, develop and retain top talent.

Today’s employees want to know that they have been selected for positions because they have the ability to succeed in those positions and that the organization is going to continue to develop them into top performers. They are looking for companies with strong talent management systems that will recognize their individual efforts, reward their performance, and give them opportunities for growth and development.

Your talent management process exists to support your employees without trying to change them. It’s a crucial addition to every business. To get the best out of your employees and continue to attract new talent, you’ll want to implement an efficient talent management process. Here’s how.

Creating a talent management process

The first step is to ensure that there are channels and pathways for expectation setting, training, two-way feedback, and coaching to enable a continuous cycle of talent management and performance.

Transparency is key. Employees search for more than monetary rewards and a glamorous office. Sure, those incentives are attractive and beneficial, but workers want to know that they share the vision and values of their potential company. That’s why it’s crucial to identify your organization’s mission from the get-go.

The organization must have a solid idea of what they are about, what they want to accomplish and who they want to be as they journey there. This may take the form of a mission statement, organization goal and/or a list of no-compromise values.

Given how tight the labor market is today, it’s critical that you’re able to differentiate the experience your company or team will provide for a potential candidate and, eventually, employee. Part of how this is accomplished is by sharing company values and telling their story – things that must be proved out once someone is hired. It can’t just be lip service.

Your vision and values as a company will influence every part of your talent management process, from recruitment and hiring to retention and employee development. For instance, an applicant might be a talented individual with tons of experience, but if their objectives don’t match yours, they won’t serve your organization the way you need. Or, if a current employee isn’t progressing in a way that suits your mission, you’ll better know how to approach the issue for both parties.

Areas of focus

There are many issues to address in your talent management process:

  • Organizational and job design: Which skills, abilities and performance are needed to meet goals and objectives?
  • Workforce planning: What is your strategy or plan for developing teams with the necessary skills and capabilities? Which skills are critical to hire, and which can be built through training and coaching?
  • Talent acquisition: How will you source, screen and hire talent with the right skills, abilities and characteristics?
  • Onboarding and orientation: What are your pre-arrival and arrival logistics? What will your new-hire orientation entail? How will you ensure effective expectation setting, team integration, and cultural alignment and assimilation?
  • Learning and development: How will you customize training for each worker in line with company goals and objectives? How will you integrate this development into day-to-day performance, management, feedback and coaching?
  • Performance management: How will you provide continuous opportunities for performance review, appraisal, feedback and planning? How will you ensure clarity of expectations and nurture a culture of coaching and performance?
  • Leadership development: How will you review employee performance and potential? How will you develop and prepare individuals for possible leadership roles?
  • Employee engagement: How will you continuously gauge employee engagement levels? How will you align their work with the company’s vision, objectives, beliefs, roles and values?

As a small business looking to make initial inroads around effective talent management, it is important to focus on the components and levers that are most impactful for your team or organization.

 

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