4 Essential Steps to Help You Retain Top Talent

You’ve done everything right. You did a great job recruiting and now you have a dynamite new employee. The hard part’s over. There’s nothing ahead but efficient work and profitability.

Right?

Well, not quite. Hiring the right people is only the first stage in cultivating a talented team. The next step is keeping the good people you’ve hired – sometimes a bigger challenge than finding them. The same qualities you love in your workers will make them in demand with other companies.

But there are things you can do. Here are four steps that will help you keep your best workers:

Pay Them Market Value

It’s tempting to squeeze every possible dollar out of every situation. It just seems like good business.  And worker salaries seem like a ripe place to find some savings.

But it’s important not to go overboard. Underpaying your employees invites them to look for new opportunities. You don’t need to overpay them but making sure their earnings at least match their market value will help you keep them long term.

Remember: It’s Not All About Money

People go to work for the paycheck. However, they often stay at work for other reasons.

There are numerous perks you can offer your employees to help retain them. Some of these can be expensive – things like health insurance contributions, matching 401(k)s or stipends for child care.

However, there are other possibilities that don’t necessarily require a significant cash outlay. These can include things like offering flexible schedules, fostering a team atmosphere, or providing free coffee and break room snacks.

Make Workers Feel Involved

If you want your workers to invest themselves in your business for the long term, you need to make them feel invested.

You could take this concept literally and offer things like equity grants for long-term employees.  However, it doesn’t necessarily have to be something as formal.

People like to feel part of something. They like to feel important and appreciated. So, let your employees feel involved. Solicit their opinions. Give them additional responsibilities. It will give them a sense of emotional ownership, a feeling as if they are a true part of the team.

There’s added upside to this as well: Your workers might just give you some promising ideas.

Contact Your Recruiter

If you use an agency to help recruit employees in the first place, you already have a fantastic resource to assist in the process of retaining employees.

Your recruiter will have lots of tools to help you keep your employees happy. The agency will have statistics to let you know appropriate salaries. It will have experience with which other perks have the most positive impact on worker morale. And it might have resources to help you develop the softer skills necessary to build a culture that will keep your employees for the long term.

After all, your job is to concentrate on your core business. You’re better off using professional, innovative advice to help you develop and maintain your workforce. LaborMax can help you figure out a specific workforce retention plan customized for your business. Contact us today to learn more about our light industrial staffing services in Wichita and beyond!