Saturday, March 14, 2020

3 key employee retention strategies to keep turnover low

3 key employee retention strategies to keep turnover lowAs an HR professional, you are keenly aware of the importance of employee retentionboth for achieving target department milestones, as well as for the long-term success of your company. Beyond the sunk costs and organizational chaos that take place when theres a constantly revolving door of employees entering and exiting a business, companies often cite employee retention as a key metric for effective daily operation and overall success.In fact, it goes further than that companies that build reputations for consistently impressive employee retention rates bolster their brand identitiesand you better believe that word travels fast, so you can count on active and passive future candidates discovering that people enjoy working at your organization for the long haul.Your companys bottom lineand opportunities for achieving industry growth, attracting talent-rich candidates, and realizing long-term successis dependent on effective emp loyee retention, so you better have a strategy. If your HR team needs to take its retention plan to the next level, consider utilizing the following strategies for keeping turnover low in your organization.Know your industryThe truth is, not all industries are created equaland neither is how employees are typically treated. What employees expect in one field may be completely different than another, and you better believe that all of the employees in your organizationincluding everyone from new hires to seasoned veteranswill have some level of expectation regarding how they should be treated by their employer and will respond accordingly based on their perception (regardless of whether or not its completely aligned with reality).This mindset isnt relegated to just your most talented star employees or any specific departmentits at the core of human psychology. How youre treated or, more accurately, how you perceive that youre treated, impacts your resultant behavior. This holds true at home, in the world, and on the job.

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