Retention is always a crucial issue for employers. However, given the job market that has taken hold since the post-pandemic reopening, the topic becomes even more important for 2022. Keeping your top talent in place will help you rise above the competition.
The loosening of COVID restrictions has thrown the labor market into turmoil. Workers have quit their jobs in record numbers, seeking out new opportunities and taking advantage of rising wages.
Given these conditions, most companies expect to face a rise in turnover during 2022. Whether it’s nurses or tech workers, industries from around the economy have faced massive changeover in their teams.
How can you protect against a mass exodus of your best employees? There are steps you can take. Here’s how you can make employee retention a priority in 2022:
Invest in Retention
Start by making retention a priority in your organization. That means keeping accurate data and making explicit retention plans.
By recognizing the importance of the issue, you can begin setting aside resources to improve your retention. From there, you can create a framework and formulate a plan to enact the policies you need.
Understand the Market
When you lose an employee, you lose them to someone else. They have chosen another career option. What drew them away?
You can start answering this question by learning about the current market. This will let you create a competitive compensation package. Consider topics like:
- Pay Rates
- Remote vs. In-Person
Figure Out Why Employees Are Leaving
Understanding the market represents an important first step. But you have another crucial source of data: your current and former employees.
Conduct exit interviews to learn why employees are leaving. Get in touch with former team members to see why they left. Survey your current staff to find out their priorities.
This information, combined with your market insights, will let you upgrade your work environment. You can create policies designed to hold your employees for the long haul.
Upgrade Your Onboarding
Start the process of retention early. Make it part of your onboarding and training process.
This begins by offering thorough and detailed training. This will give your employees confidence in you and in their ability to do the job.
Furthermore, you should strive to make training an ongoing process. Employees will stick with you longer if they are building skills and moving their careers forward.
Build Deeper Relationships
Take steps to develop closer ties to your employees. Take incremental steps to build relationships. These will add up over time. Nurture two-way loyalty to improve retention.
Here are some steps you can take:
- Give Praise
- Offer Development Opportunities
- Build Team Spirit
- Emphasize Culture
- Listen to Your Employees
Get Better at Hiring
A good fit between candidates and open positions creates a firm foundation for long-term employment. By making great hires, you do more than just find the staff you need to get the job done. At the same time, your new hires discover a position they can thrive in for the foreseeable future, making retention easier.
Ready to upgrade your hiring process? Turn to a top recruiter, like SmartTalent. You’ll get the kind of team members that will stick with you for the long haul.
Contact SmartTalent today to learn more.