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How to Retain Top Talent

After putting the time and effort into finding the best suited candidates for an open position, you will want to ensure that these candidates stay and continue to contribute to the current and future success of your company. Employers are always looking to understand what keeps top talent happy. Here at Potomac Recruiting we suggest utilizing the following tips to ensure that you retain your best employees.

Job satisfaction is vital to increasing your retention rate. Failing to recognize what is important to employees will lead to lower productivity, and in turn a lower retention rate. While a competitive salary and good benefits are very important to your employees, there are many additional factors that your employees will value as much or even more, such as developing and maintaining a culture of open communication, ensuring that employees feel valued and understand the goals of the company and the expectations for their positions, and knowing that there are opportunities for career growth and development. Studies have found that the majority of employees leave a job because of culture issues, lack of career opportunities, or due to problems with managers or senior leadership, not simply due to insufficient salary or benefits. 

Environment

Employers should create a cultural environment where employees feel like an asset. Employees want to feel secure and comfortable at their job. In order to ensure this, employers should acquire input about rules or changes that may be needed—you have to be willing to listen to your employees. Be open, listen to new ideas, and accept suggestions. Other cultural factors that contribute to keeping top talent happy in their work environment include flexibility in terms of schedule and a good work-life balance. Casual dress code, half-day Fridays, an onsite fitness center, nap rooms, and a snack cart are some other small, easy examples of possibilities that could be implemented to keep top talent happy.

In order to sustain a productive environment in the office, employers should encourage goal setting and let employees make choices whenever possible. It is also important to keep top talent informed about what is happening within the company to ensure continued productivity.  

Expectations

At times, top talent will set high bars of expectation for their organizations because of the exceptional work that they can provide—expectations such as compelling career paths, lots of recognition, or the chance to prosper affluently if the company does. Ensure that there is a foundation of open communication amongst staff. Top talent will want to know what is expected of them, and will want to establish an open dialogue for discussing what they can expect from the company in return.

Opportunities

Let employees know that there is room to grow and that there are opportunities for advancement, such as tuition for continued education. Targeted leadership development, such as business rotations and special assignments, is another good way to demonstrate advancement openings for top talent. Discuss career development opportunities and demonstrate how this can be implemented within the company so that top talent will be more likely to stay.

If a company is struggling, top talent won’t be passive about pursuing other opportunities—especially if cut backs are being made. A solution to this concern could be to simply double or even triple efforts at keeping top talent engaged. Find what your top talent is passionate about, and allow them to focus their time and energy on projects that they will enjoy. Make sure to provide them with work that is both challenging and stimulating.

Recognition

In order to retain your top talent, you have to ensure that they feel appreciated and respected. If employees feel underappreciated and undervalued, they will pursue other options. Make sure your top talent feels that their contributions to the business are important. Employees need to see how their work contributes to the company and its overall success in order to feel engaged. Employers should recognize and reward productive and quality work with bonuses and other honors.

However, even a simple yet sincere recognition of success will create a trusting and appreciative relationship between the employee and the company, which will go a long way. Recognition should be specific, and more than just a simple “good job”. Meet in person with your top talent and provide them with open and honest feedback on their work performances. 

Above all else, an affective hiring process will result in finding the best suited candidates who will stay at your company. Employees who feel connected to the culture and the mission of the company will be more likely to stay committed.

Heeding all of this advice will not only provide your company with a strong employee retention rate, but also with loyal employees who will contribute for the long term success of the company.

Great leaders have a vision for their company. The experts at Potomac Recruiting provide leadership strategies and planning that help turn these visions into a reality. If you want to build and retain the best team to support your goals and mission that you envision for your company, contact us today.

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About Us

Potomac Recruiting consultants are specialists in talent. Our experienced consultants are passionate about finding the right people for your business—that’s the Potomac Recruiting advantage. We specialize in finding the people who will help your business exceed its goals, and our success is measurable: in today’s fast-moving world Potomac Recruiting is proud that our retention rate is 93%.  

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