First, you have to find the perfect fit for your team, but how do you keep them? For most companies, high turnover rates are a major concern. It makes sense considering the cost to hire and train new talent can be expensive. Not only does it cost a lot of money, but it costs time and productivity. When our clients come to us looking for strong, long-term team members, these are the steps we suggest they take to keep retention rates high.
Engaging new and current team members is imperative to maintain a high retention rate. Try using value-based recognition programs to engage with the team and instill the company’s values at the same time.
To retain employees, it is imperative to understand what they are looking for in an employer and job position. For job seekers, the most important factors in a potential new position are job stability, location, and culture. Understanding employees’ wants and needs is critical for retention and taking the time to taking the time to reflect on their priorities will undercut costs in the long run.
Money is not everything. Counter-offers are ineffective when an employee is leaving for reasons other than compensation, which is often the case.
Being successful at hiring is about convincing the perfect candidates before someone else does. If you are presenting job seekers with a great culture, a path for advancing their career, and great benefits, you’ll see your retention rates rise.
If you’re looking to build your dream team, let’s talk. We’ve helped people like you build dynamic, capable tech teams for years, and we’d like to help you, too.