HOLDING ON TO YOUR FIRM'S TALENT
Much os a company's succes depends on its employees. They're the ones who work together to accomplish the organisation's goals, so it is crucial to manage talent well to prevent good employees from leaving the company in search of better offers.
High staff turnover not only affects a corporation's financial goals, it also leads to lost productivity and time recruiting staff. It also breeds an atmosphere of instability and distrust that increases the chances of exacerbating turnover rates.
That's why it's important to focus on the following measures to retain good collaborators:
A fair salary
One of the main reasons employees decide to resign is because salaries are not in line with their workload or the amount of hours they work. Not all companies are in a position to offer salary increases as an incentive, but it's important for them to pay fair, ompetitive salaries in line with the market.
Being aware of employees' needs leads to providing incentives to improve their wellbeing. Periodic bonuses for meeting goals, providing a company car, savings plans and medical insurance are some of the ways that improve employees' perception of the company and the atmosphere at work.
It's all in the details
A well-equipped kitchen and free sweets or snacks to start the week on a good footing are also ways of showing your team members how much you appreciate them.
Flexible working hours and dress code, and being able to ask for time off to attend to personal matters when necessary also help to promote a more understanding, empathetic corporate image and encourages people to do a good job.
Working from home
It's been shown that establishing a flexible working environment improves staff well being and is good for busines at the same time, since it raises productivity. That's why working outside the office has become a corporate trend, particularly among startups and companies in the field of information and communications technology. This approach allows team members to work from anywhere, which gives them greater leeway in terms of managing their time and personal life.
Encouraging professional development
Company-sponsored job trainig, workshops and courses are also effective ways of motivating your staff, while also providing benefits to the firm by adding value and skills to employees.
Finding out what senior-service employees think
In the same way interviews are held to find out why an employee has decided to leave, the views of employees with longer tenure should also be taken into consideration. The idea is to ask why they work at the company, what has stopped them from leaving, what would make them leave and what they would change in the office working environment.
It's a means of gaining insight into employee motivations and concers to improve a company's talent-retention strategy.
Promoting whenever possible
Few things can be more disheartening that the "stagnant employee syndrome", in which a person realises that their job is going nowhere. That's why offering promotions to team members who achieve company targets and challenges gives employees a real possibility of making headway professionally, which acts as a source of motivation.
Good communication between bosses and employees has a direct impact on the working environment. This entails meeting periodically with employees for feedback on their concerns, needs and any ideas they may want to put forward, and at the same time relay the company's values, mission, vision and aims to them.
This helps shape a shared corporate identity that fosters a sense of belonging.
A decent working environment
Today's approach to work spaces points to offices featuring a variety of spaces: lounges, green areas, games to take one's mind off work, and other amenities designed to make employee's lives more pleasant.
Innovate architecture and well-appointed facilities where technology is at people's service are also conducive to a good working environment. A business complex such as the World Trade Center Barcelona paves the way for your work team and clients alike to enjoy a pleasant working environment.
In short, any measure that fosters the well being of your company's team members is certain to help prevent them from looking for greener pastures elsewhere. Looking after your employees translates into looking after your business.