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Employee retention – a hot topic in today’s work climate, and something that every industry and country is dealing with. Whether it’s being unable to find the right employees to hire, or being unable to keep the employees you need, the impact is the same: businesses suffer. While there are some outside forces business cannot control (refer to our other blogs to learn about them), there are a few key internal areas that can be controlled, but are often missed. Read below to learn three mistakes companies are making, and how to avoid them, so you can hire and retain the right employees:
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Listening to employees wants, but not taking action
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A lot of emphasis has been put on listening to the wants, needs, and concerns of employees. And companies are doing a good job with it! The problem is that most businesses do not do anything with the information they gather. This makes the employees feel like their opinions don’t matter, their role doesn’t matter, and it makes them more likely to leave their company. It is critical that companies take the key information gathered from listening to employees and make a game plan of how to incorporate it into the current company culture or structure. If your employees worry about not having the opportunity for growth, look at building a training and promotion structure within your company. If your employees feel like they don’t get enough feedback from managers, build a structure for more direct contact with managers. While “building” is more work, the reward is well worth it.
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Failing to foster the right culture for your company
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Company culture is arguably the most focused on tool for “retaining” employees nowadays. However, people act as though one culture structure fits all, and this is not true. Depending on your industry, and your specific company and goals, the culture that is right for you will look VERY different than other industries/companies. It is important to look at what your employees thrive on, what environment brings the best results for your goals and clients, etc. While this often requires some trial and error, it is important to continue to try different aspects until you find the “sweet spot.” Don’t fool yourself into thinking that this will be your culture forever. It is important to remember that certain aspects of your culture will change over time.
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Not hiring for the right position
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This one can be a bit harder for companies to realize, nonetheless it is something that is absolutely necessary in successful employee retention. Often an open position is posted thinking it is the “glue” that will fix everything. The reality is that too often companies are hiring for a role that isn’t needed, and that will not fix the issues they are seeing. For instance, they might be hiring for a manager, when in fact what is needed is a strategic analyst or HR position. It takes more work upfront to do an assessment for current gaps, but if companies invest in making the effort, they will be rewarded ten-fold by hiring the right employee. This will in turn help the employee actually stay with the company, because their role is needed and welcomed into the culture and company structure.
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While it may seem a bit overwhelming to correct some of the common “mistakes” you might be making, the solutions are often simpler than you realize, and the payoff will be felt almost immediately. Why? Because you will discover that you are able to keep the high-quality talent you already have, while finding and hiring exceptional, new employees.
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Interested in learning more common mistakes and how to avoid them? Contact our team at Kim@QuantumMark.com today!
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