Whether they are IT recruitment agencies or any other firm, retention of employees always leads to a business success. As per the new survey, more than five percent of the people from the last year are planning to change their jobs in the year 2016. This increase is much more between the age of approximately 18 and 34 years, and it has been observed that this figure is increasing on a yearly basis.
For some people, that might not be a big deal but in actual, the loss that the companies face in the shape of employee turnover costs as much as 30 to 50 percent of the staff members' yearly salary. People do not analyse that the frequent resignations of the staff members lower the morale and productivity of the others. Moreover, it sometimes happens that the employees who are satisfied with their job also look for the new work and designations. To retain the employees, it is crucial for the companies to hold on with the staffs' needs and challenge them with the tasks assigned to them so that it can be proved meaningful to them.
In order to retain the best employees, here we are giving some suggestions. For instance,
Understand What Matters for the Employees
To whatever industry does your business belong to, every employee needs affordable benefits, a great boss, stability in the job with a good working environment and culture. For them, all these factors hold great importance compared to the salary.
When it comes to employers, they can conduct confidential surveys so to know about each employee's job satisfaction criterion. Likewise, the company can discuss with the top talent to know about the concerns of the employees. This may help their team to function appropriately and be the happier one.
Give Priority to Internal Hiring
The recent surveys conducted in 2016 have discovered that internal hiring can play an important role in the retention of employees. But unfortunately, this has always been put on the lower side of the priority scale. Very few companies accept this fact that internal hiring is vital in making the strategies and retains the employees if prioritised in an appropriate way. IT recruitment specialists well understand that maintaining and strengthening relationships with the employees after recruiting through the internal hiring can help in keeping the staff members in the pipeline for a longer term.
Consider the Perks That Could Relieve Them
No doubt that the companies cannot offer all the perks to the employees but some of the common perks may be granted to let the employees feel relaxed and working with a complete peace of mind. Subject to the nature of your business, if the employees are allowed to wear jeans and are offered half days on Fridays, these small benefits can really value them and bring fruitful results.
Have Believe on Your Staff Members
For any employee, that job matters the most where it can grow and learn. There is no doubt that sometimes it means taking a big risk and coming out of your comfort zone. By giving your employee(s) a genuine and extended assignment, it means that you are trusting and motivating them and enabling them to grow over here, ensuring them that they will be rewarded immediately.
Develop Healthy Relationship with Employees
Whether it's a top level employee or a junior staff member, the employers need to show that they truly care their employees and want to aid them in developing their professions. This helps employees and their families to go a long way with the companies. One of the best ways is to sit with the workers and discuss the future goals and objectives of the company. This may help the enterprise to keep the best talent.
Hire Smart Rather Than Hard People
At some stage, companies have to hire new talent/staff member. When making a decision, make sure that the candidate you are going to hire is the best one, like-minded and matches well with the company culture. It will only be a one-time effort to look for the appropriate person for the specific designation. The right candidate usually prefers to remain in the job.
Remember that if the employees feel secure, and they know that they can contribute at a higher level, they stay much longer and work more effectively. For this, you need to select the candidates that are compatible with the organisation's culture. Generally, such employees go a long way with the companies.
