HR Strategies: Retaining Top Talent

Retaining top talent is challenging in today’s cutthroat business world, but it can be done. The best way to keep top talent at your company is to utilize the human resources department. The HR staff is responsible for not only hiring and firing, but also keeping employees happy while at work so they do not jump ship to competitors. If your company follows the tips outlined in this post, then retaining top talent will become easier each year.

Identify Problem Areas Within the Company

The only way you will find out what drives employees to other companies is by speaking with them. Talk to employees from every department and get their thoughts on the company perks, benefits package, policies at work and other factors that influence satisfaction. Send out surveys to employees regularly to help determine areas where you can improve.

Another way to take this a step further is to survey former employees. Ask them why they left, what the company could have done to get them to stay, and what they like better about their new employer. If you do not feel comfortable contacting former employees you could always begin an exit survey, effective immediately. Send any employees scheduled to leave the company a survey asking why they chose to leave and what it is about their new job that entices them.

Understand That Not All Turnover is Bad

Not all turnover is bad. In fact, you do not want to eliminate turnover at your company completely. In some instances, turnover will help the company move forward from an employee who does not perform his or her job well. Companies that allow an under-performing employee to remain on the staff are preventing a stronger employee from being hired.

Inform Employees About Advancement Opportunities

Most employees know that their career path is in their own hands, but not all understand or know about the advancement opportunities available to them at your company. In order to retain the top talent in your company, you should identify the career path available for those talented employees early in their careers so they know what is ahead of them at the company. This should help keep them employed for the long-run.

Encourage Strong Relationships with Supervisors

Another excellent way to keep top talent in-house is to encourage a strong relationship between employees and their supervisors. When supervisors take an interest in their employees’ success, it is visible and makes employees feel valued by the company. The supervisors should provide the employees in their department with a review at least once every six months in order to recognize their hard work. If this turns into a mentor-type role, then your employee might have another reason to stick with your company.

At SmartTalent, the staff is dedicated to providing excellent service to companies looking to bring in the best talent around for various positions. Visit our website today for more information or to schedule a consultation.