Retention is becoming increasingly critical for companies. Shrinking talent pools and a high amount of competition means keeping your best and brightest must be a priority.
While a certain amount of turnover is unavoidable, there is a lot you can do to reduce the rate of attrition. Whether you want to make sure that your permanent staff members stay on board or that your contingent workers from temp agencies in Cleveland, Ohio complete their assignments, here’s what you can do to improve retention.
Provide Competitive Compensation
If you want to keep top talent, you need to offer competitive compensation. This includes providing a strong salary, robust benefits package, and even enticing perks, depending on what is considered the standard for the role or your industry.
Additionally, make sure to remain aware of the compensation standards over the course of the year. If you notice an increase, consider raising salaries to meet or exceed those numbers quickly, as that will make you a more attractive employer.
Offer Growth Opportunities
Top talent won’t be satisfied with their employer if their careers stagnate, leading them to seek out options elsewhere. However, if you help them develop, create clear pathways for advancement, and otherwise assist them in moving forward, they won’t be as inclined to head out the door.
Most employees have aspirations beyond their current role. By providing access to training, mentorship programs, or other professional development opportunities, you are supporting your workers in achieving their goals. Not only does this foster goodwill, but it also benefits the business, as you will gain access to their enhanced skill sets and experience productivity boosts as morale rises.
Hire Right the First Time
When a company is shorthanded, it can be tempting to hire the first person who even remotely seems qualified for the role. However, this approach can be detrimental since it increases your odds of making a bad hire.
A single bad hire can drag down productivity and morale. Not only will you have to address the poor performer (who may quit or need to be fired) but, if they remain on staff long enough to frustrate your other employees, you may need to replace more than just the one worker.
Before you extend a job offer, make sure the candidate is actually a strong fit. This includes both for the position itself as well as your company’s culture. Strong matches are more likely to stay for the long-term, helping you improve your retention rates.
Are You Ready to Make Your Hiring Goals a Reality?
Vector Technical Inc., one of the leading temp agencies in Cleveland, Ohio, strives to help local employers lower their hiring costs while reducing attrition. Let us locate your perfect candidate the first time, giving you the ability to focus on other areas of your business. If you are ready to hire some of Ohio’s top talent, request an employee today!