Employee retention is one of the biggest challenges for human resources professionals. But with the right employee retention strategies in place, you can drastically increase retention and decrease turnover costs.
When employees are motivated, they do better work. We don't have to tell you that. But increasing your employees’ motivation -- that's the tricky part. Armed with the right strategies, you can increase employee motivation and retention, and overall company stability.
What if there were a way to ease your recruitment and retention problems, all while decreasing your recruitment costs and finding employees that fit with your company culture? There is such a way: an employee referral program.
Figuring out how to attract, recruit, and retain millennial workers is one of the greatest challenges facing today’s HR professionals. This group has drastically different attitudes toward work compared to previous generations, meaning that you must adapt your recruitment and retention strategies if you want to successfully capitalize on this large pool of talent.
The scarcity of talent in today's competitive marketplace means that candidates have more options than ever and can afford to be picky. To meet this new challenge, HR professionals must treat recruiting as the process of marketing your company to potential employees, just as you would market your products or services to customers. In other words, you need a recruitment strategy.
Traditionally, hiring managers look outward to find the right candidates to fill available roles - particularly when it comes to leadership positions. While this approach is still integral to any recruiting strategy, it’s also worth considering another approach that incorporates an effort to recruit from within.
A high turnover rate costs your company significantly in costs and productivity, and drains your resources as HR is nearly constantly preoccupied with replacing lost employees. That’s why it’s important to understand whether your company has a high turnover rate, what causes high turnover, and what you can do to fix it.
In today's workplace, a shift towards more collaborative, interdepartmental work practices have made the exclusive reliance on an upward mobility model inadequate for modern human resources practices. Instead, hiring managers must also consider internal mobility as an option for some employees.
Have you ever considered the importance of marketing, not just to potential customers, but to your potential employees, too? If you're not marketing yourself as an employer to potential job candidates, you're not going to be able to attract top talent - no matter how exceptional your benefits and company culture are.
In order to set your firm up for continued growth and success, you need to leverage human capital analytics, a field that allows you to use data available about employees and economic trends to make better decisions about your organization’s most important resource: human capital.