Employee Retention Matters to Employers…and Candidates
by Kristina Paudler, Director of Recruitment, Healthcare
Retention is an issue for employers and candidates alike. Companies that can’t retain employees lose the money they’ve invested in that employee. And among candidates evaluating a job prospect, retention is a common concern.
It is imperative that organizations emphasize developing an effective employee retention program. Otherwise, expenditures associated with the hiring, training, and dismissing of individuals can become burdensome and costly. Also, if a company is losing their top talent and employee champions to competitors or for other reasons, that needs to be examined so an effective retention program can be implemented. Factors such as: poor leadership, minimal growth opportunities, no educational or professional development, poorly communicated visions, out-of-market salaries or a lack of incentives, recognition or cross-training opportunities can all impact one’s decision to jump ship. High turnover at the executive level can also be a red flag for some.
Surveys by various organizations mention elements that can lead to successful employee retention:
- Consistent feedback regarding progress and performance — employees need to feel that they’re being acknowledged and appreciated
- Linking employee goals with company and departmental goals — clearly defining those goals at the company, departmental, and individual levels is key
- Attaching rewards and incentives for top performance
- Offering growth opportunities can increase motivation
- A strong management training program that is ongoing and specific to Middle and Front Line Management can ensure they are managing people effectively; often employees are mismanaged because middle management does not have the skill set to manage others
It is extremely attractive to a potential candidate if your company can demonstrate that it has a vested interest in the progression and development of its employees.
Employees want affirmation that people currently in the organization are motivated and inspired and that the company culture is a match with their professional goals. Recruiters need to understand the goals, skill sets and culture of the organization as they will be essentially matching the prospective job seekers experience to that of the needs of the organization. Having a clear, concise job description with specific skills required, along with the desired soft skills and experience is vital to ensuring that the appropriate candidate gets hired.
Bristol Associates, Inc. is an executive search firm with over 50 years of excellence in recruiting nationwide. Bristol specializes in recruiting for the Casino Gaming; Hotels and Resorts; Travel, Tourism, and Attractions; Facilities and Concessions; Food and Beverage Manufacturing; Restaurant; Hospital and Healthcare; and Nonprofit industries.
If you’re interested in working with Bristol Associates, click here if you’re an employer or here if you’re a candidate.
Subscribe to our monthly newsletter here.