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How to Retain Top Talent

With a lack of applications coming in, not only do businesses need to increase their recruitment efforts but businesses need to ensure they are doing all they can to keep the talent they have.

Everyone seems to be in the same boat, there is a constant struggle to get people in the door and with a lack of help comes an increase in responsibility for the rest to pull the extra weight.

Take a moment and look around to see those that are struggling to get the job done. The top talent in your business could be suffering and losing them is going to hurt even more.

  1. Offer tuition reimbursement and ongoing trainings

    1. When a company commits to funding part of the development of their employees, it instills motivation and a feeling of value in their role. There are fewer things more valuable than the art of learning and this is a benefit that does not go unnoticed by top talent looking for their next stride.

  1. Offer benefits catered towards longevity & performance

    1. A strong benefits package is crucial to get top talent applying and top talent staying. However, health insurance and PTO just don’t cut it anymore. A company that offers stock options and bonuses based on company productivity allows the employee to think ahead and align their work with company initiatives.

Now, some businesses can’t afford to offer additional compensation in the form of tuition reimbursement or bonuses but there are some things they can still do.

  1. Schedule regular one-on-one’s

    1. This allows there to be scheduled times for employees to openly voice any concerns or frustrations to their manager. Additionally, it allows your employees to be heard and really foster the open door policy that so many companies claim they have on paper. On the side of management, it allows you to give praise and recognize the efforts of your employees.

  1. Give your employees flexibility

    1. The key is, employees want grace in the day to day. If they are consistently bringing forward their best work, it really doesn’t matter how and when they do it. People are vastly different, and people like options to cater to those differences. A remote schedule might work for some, hybrid for others, and an in office schedule could be crucial for other people.

No matter what the circumstance is, take the time to look around and see those that are here. Make sure to take care of those that are here by implementing a strong culture built on open communication, ongoing professional development, and align the company’s goals with everyone’s actions.

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