At your wit’s end trying to find new ways to recruit top talent? Wish there was a secret weapon that would give your organization a competitive advantage? There is, and it’s so logical it might surprise you. Ready? Build a great employee retention program.
This is where HR and hiring managers sometimes say, “But recruitment and retention are two different things.” In reality, they are joined at the hip. When a company creates a strong retention program, their recruiting efforts receive a significant shot in the arm.
Retention saves time and money
Think about all the work that goes into filling an open position. First, you need to draft an advertisement and post it on job boards, social media, your website, and other appropriate platforms. Then comes the monitoring and reviewing of resumes, followed by the sourcing, screening, and interviewing of candidates. Finally, you need to make a job offer that’s accepted.
But wait, there’s more. Now that you have a new employee on the team, it’s time to start the onboarding process. They need to be brought up to speed on your company, your customers, and their colleagues, not to mention the tools you use, the processes you follow, and the projects in motion.
All of that requires a major investment of time and money – and it’s something you can avoid if you focus on retaining the great employees you already have.
The keys to a sound retention program
There’s no question that money talks. From salary to health insurance and retirement plan contributions, fair compensation plays a vital role in keeping top professionals on board.
However, engagement surveys show that employees are seeking more than that from the organizations where they spend 40 (or more) prime hours every week. They want to feel valued, engaged, and appreciated. They want to have a voice in the organization, to have employers truly listen to them. And, they want to be seen as people, not just workers.
By putting effort and energy into retention, companies will generate a much higher ROI than by constantly recruiting. And don’t sell short the intangible benefits: satisfied employees become ambassadors for your organization, helping to attract more co-workers and customers.
The experts at Alaant work with great companies every day to help develop and execute employee retention programs that deliver results. Is it time to sharpen yours? Contact us today and let’s get the conversation started!
