How to keep talent in your company? Unfortunately, in the United States, the number of employees who leave companies searching for better opportunities is increasingly recurrent.
So, according to experts from the Boston Consulting Group (BCG), there is an attrition rate (Percentage of employees who quit within one month) of up to 30% in some job categories.
Some factories heard by the same publication stated that they had a turnover; (employee turnover rate) of over 100% in just over a year and a half.
In other words, all the initial employees left the company during this period and were replaced by others; among these new ones, there were even more layoffs and departures.
In the technology and data science industries, however, companies say that in the end. There are always a few empty desks left despite their efforts to retain good employees.
This confirms a trend already pointed out in another BCG survey; 57% of respondents worldwide who work in skills-required services plan to change jobs within the following year.
How to reduce turnover
keep talent in your company
In any case, no matter what industry you work in, your goal should be to retain the professionals who matter to you.
Experts at BCG suggest in an article for the Harvard Business Review; that the best way to achieve this is to make your company a more attractive place to work. See 6 tips:
1 – Seek loyalty
So, one way to ensure that your employees feel a sense of appreciation for what you have provided them is to help pay for training courses. In addition, offer bonuses for good performance, and provide grants to help them set up a good home office.
2 – Offer opportunities for growth to keep talent in your company
Meeting with an employee who said he would leave the company to motivate him to change his mind. Offering more significant benefits and asking what would make them stay with the company; are attitudes that are very effective in general.
And offering an opportunity for him to gain another position or get some promotion. For example, maybe enough for them to decide to stay.
3 – Try to elevate your sense of purpose
Research shows that, in times of uncertainty, believing in what the company does and seeks to achieve is extremely important.
Conveying this to your professionals so that they don’t lack purpose in their daily work is essential to improving retention.
4 – Prioritize culture and connections to keep talent in your company
Seek to relate to people genuinely. Professionals in different professions highly value the existence of friendly relationships between employees that go beyond mere work.
5 – Invest in taking care not just of your employees but of their families
Helping parents with young children with support can be a big incentive to stay with the company.
6 – Be more flexible to keep talent in your company
The future of work points to a greater need for flexibility, including location, job description, and careers in general. So invest in it and look for people who aren’t exactly what you’re looking for; but who demonstrate at least 75% fit in what you’re looking for and willingness to work.