Attracting and retaining top candidates is one of the most important things a company can do. Attracting top candidates means that they will have skilled employees with a strong work ethic: dependable, punctual, and reliable. Retaining them means that skilled employees and strong work ethics continue, year in and year out.
Not only is attraction and retention important for the work, it’s important for the company’s bottom line. Hiring is time-consuming and, if a poor hire is made, replacing a new hire is expensive.
The good news, though, is that there are proven ways to attract and retain good people. Here are 3.
Competitive salary and benefits
There’s no two ways about this. If you want to attract and retain top performers, you need to pay salaries that are competitive with similar companies in your region. Your benefits, such as health insurance, vacation time, and retirement plans like a 401(k), also need to be competitive.
Salaries and benefits are among the top reasons workers look for greener pastures. If yours are below those of your competitors, you can expect your employees to go looking at those competitors eventually.
People like to feel appreciated for their efforts. As a result, companies need to actively plan to show appreciation to their employees.
Employee appreciation plans come in many shapes and forms. You can develop an Employee of the Month program, with posters and awards, such as gift certificates or free dinners. The advantage to Employee of the Month plans is that is gives all employees a chance to shine.
Other plans may reward a group rather than a single individual. Holiday parties or Wednesday free donuts are also ways to show appreciation.
Just as most people work for salary and benefits, most people want to be promoted to higher positions once they have been working at a certain level for a period of time. As a result, people wanting to retain good people need to develop promotional paths.
It’s a good idea to have yearly reviews of employees. For top performers, promotional paths are something that can be discussed with their managers.
The Benefits of a Staffing Agency
A staffing agency can partner in every piece of the hiring and retention process. We can research salaries and benefits in our region, develop promotional paths, and recruit terrific new hires. We’re happy to help. Contact us today.