As organizations struggle to deal with the Great Resignation, the thirst for business growth has led some of them to engage in talent poaching and to offer massive incentives for employees to leave their current employers. Those employers must be doing something right if their competition sees value in their workers, but now they need to step up their game to keep those good employees around. Retaining top-performing staff is certainly a much better business strategy than trying to convince them to come back after they’ve left: not only does it keep top talent on board, but it also saves the time and money involved in backfilling roles. Fortunately, there are some tried-and-true strategies companies can use to help cultivate and retain a thriving workforce.
No single strategy can guarantee that employees will choose to stay longer with the organization. But combining modern leadership principles with focused drivers of retention will not only help reduce the turnover rate, but also increase the organization's productivity.
Although there are plenty of metrics that recruitment teams can track when looking to capture the best talent for their businesses, some metrics are more important than others, depending on how a business defines success and health in terms of recruitment.
As companies attempt to rehire and recover from the last two years, they're all trying to comprehend why some of their talented employees are pursuing new opportunities that often don't appear to be better (in terms of pay or advancement possibilities) than their current roles.