In a competitive employment market, recruitment and retention of top talent is fierce. With many businesses increasingly experiencing a shortage of suitably qualified candidates and with rising vacancy levels, it is more important than ever to ensure retention of your existing staff.
Here are four ways we think you could retain staff and avoid Talent shortages;
- Communicate with Staff
You can never do enough communicating with your staff. People want to be engaged and fulfilled at work. By communicating with them and keeping them in the loop about what is going on in the business they will feel valued and motivated.
Make communication two ways. Listen to your employees and respond to their needs. This will help create a healthy and happy workforce.
- Offer New Opportunities
Lack of opportunity is one of the main reasons why people leave their job. Take time to invest in staff and understand exactly what they require to feel motivated and comfortable. This will avoid struggling to hold on to them further down the line.
Have regular meetings and review sessions to ensure you are clear about KPIs and progression paths. Give regular feedback on what staff need to do to progress in their career.
- Upskill your staff
If you feel you are short on talent, but recruitment is not an option, try upskilling the staff you already have. On-the-job training is a highly manageable and cost effective way of allowing your staff to learn while actual getting work done. Allow your staff to share their knowledge through coaching and mentoring.
- Offer incentives
Employees respond favourably when they are recognised and rewarded for their efforts. Give incentive, bonuses and salary increases (where possible).
Put simply, if you can invest your time and effort into managing your talent effectively, you are more likely to retain employees, and reduce the cost of recruiting new staff as well as holding on to the knowledge and skills you need for your business to succeed.
Are you currently experiencing skills shortages in your workplace? Are you struggling to retain talent? If the answer is Yes, contact Judith at Employmint and she will help you recruit and retain the talent you need to grow your business.