Who doesn’t want the best for their organization? The best resources, the best team, the best work culture, and so on.
Every organization wants to hire the best talent. It is talent that makes a crucial difference in an organization. A company invests a lot when they hire new talent. Even after providing all the premium benefits and perks a company can offer, some of the best employees choose to leave eventually. Have you ever wondered why that happens?
Hiring the right person is a challenge but retaining is even more difficult. It is true that an organization cannot prevent an employee turnover rate, but you can take measures to prevent fallout. Some employees will leave or switch jobs eventually but what happens when a multitude of employees choose to leave an organization? Why does this happen?
Employee Retention is when a company invests to retain its most valuable asset – the employees! Employee Retention is crucial as it affects the business and productivity. If you keep losing the best part of your company, your business will be driven out of the market sooner or later.
What are a few things that an organization can do to retain its top talent?
Flexibility has become an important focus when it comes to employee retention. Employees prefer a workplace where the organization gives the employee a right to choose how they want to work, where they want to work, and when they want to work. There should be a balance between working from the office and working from home.
According to a recent survey, companies that offer remote work have a 25% lower employee turnover rate. No doubt working from the office is essential to maintain the camaraderie in an organization. But an organization should opt for flexibility rather than rigidly adhering to one single work model.
Now100 encourages taking time off work to focus on yourself. We have paid holidays as well as mental health day to boost our employees’ morale. Everyone needs to start afresh once in a while. We understand the importance of it.
Recognizing an employee’s efforts is important. Intentional praise and appreciation for the job well done are crucial. An employee wants to feel validated for their hard work. If someone is going out of their way to put in effort for their work, they deserve acknowledgment. A thank-you note, a shoutout during a team meeting, or a simple “job well done” over email adds an elevated touch.
Organizations can also implement award programs within the company or within individual departments. This will keep them motivated and productive with their tasks.Now100 believes in employee recognition.
We have the ACE award (Appreciated, Celebrated, Excellence) which is a peer-nominated award where we recognize an employee for their consistent hard work and dedication. Also, our Spotlight award is an award given to an employee by their manager. The manager recognizes the employee for his/her extraordinary contribution and excellent performance.
Every employee wants a job that adds value to their career. Nobody wants to stay at a job where they feel stagnant and wonder if their career is heading in the right direction.
To retain employees, organizations need to explore career growth and opportunities. Leaders need to motivate their employees and improve communication. They should guide their employees if they ever encounter a problem. They should encourage positive employee engagement and boost their confidence. Companies should focus on career progression and growth. Everybody wants to advance their career and focus on personal growth as well.
Also, organizations should try adapting a “promote from within” strategy. It will keep their employees motivated and excited to grow with the company. It is also important to set achievable goals. It is crucial for employees to have open conversations with their managers and set goals that will help advance their careers. Employees should upskill and learn more relevant topics related to the field. For example, they can attend conferences and take online training or webinars to stay relevant and informed.
Now100 conducts annual reviews to go over an employee’s goals and see how much we have progressed in a year. This encourages our employees to stay motivated and aspire to achieve their tasks.
Hiring the right talent doesn’t mean the work is finished there. An organization needs to be equally invested in maintaining that right talent once they’re hired.
Sometimes, the right talent can leave if their onboarding experience isn’t engaging enough. They need clarity with the paperwork, forms, and also a better understanding of the company culture and knowledge. They want to understand their job description and what the company expects from that person. A good onboarding experience is one of the best ways for talent to embark on his/her new journey.
Work culture must be one of the topmost priorities for an organization in order to retain talent. Negative work culture will lead to demotivation and frustrated employees, and ultimately, disgruntled employees leaving the organization.
Nobody wants their top talent to leave over pent-up resentment. According to a study, one out of five employees will leave a company because of toxic work culture.
It is important to maintain a healthy and friendly decorum at the workplace. Employees should be excited to work come to work to collaborate with their colleagues. Employees need to feel safe in their workspace.
A hostile work environment can lead to losing your top talent. Establish and maintain a positive work culture where employees feel they can be their best selves. A good workspace will lead to increased productivity and thriving employees.
That’s why Now100 is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity, sexual orientation, national origin, genetics, disability, age, veteran status, or any other status protected by federal, state, or local law.
If you wish to be a part of a company that truly values its employees, explore our Careers page and join our team: https://now100.com/careers/
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