10 Tips for Retaining Top Talent

This article comes from Entrepreneur.

10 Tips for Retaining Top Talent

Retaining top talent is a struggle for many businesses, but there are several things you can do to increase the likelihood of your young, talented tech team sticking around a little longer than average.

1. Encourage flexibility.

Today’s workers want mobility and flexibility in the workplace. Gone are the days of strict 9-to-5 hours. In their place are remote working options, flexible hours, sabbaticals and fluid PTO policies.

Flexible workers are not only happier; they’re more productive. Allow your employees the mobility they desire and they’ll likely stick around longer and have a more positive impact on your business.

2. Level up your employee engagement strategy.

Only about 33 percent of new employees are fully engaged in their new role. That’s a disappointing statistic considering the great lengths many companies take to try and create a positive onboarding experience and ensure open frequent communication.

Invest time and money in developing the right strategy and implementing the right technology to ensure your engagement is both up-to-date and impactful.

3. Create an enticing program for recent college grads.

An impressive 77 percent of students stay at their first job for less than one year. In an effort to remedy this issue, many companies are creating and implementing programs to nurture student talent.

Some organizations offer long-term fellowships to provide students with immersion opportunities at various departments throughout a company, while other organizations create short-term intensive programs that offer recent grads an opportunity to fine-tune their business skills and learn how to lead.

4. Ensure your onboarding processes are as streamlined as possible.

Seventy percent of workers say they are more likely to stay at their new company for three years or more if they experienced a favorable application process.

The application process is the first critical touch point you have with your future workers. By making the process as smooth, quick and painless as possible, you’ll be sending a message of efficiency and straightforwardness to your talent.

Once you’ve brought a new employee on board, the hiring process is not over. Ensuring your employees have a positive, engaging onboarding experience is just as important as making sure your application process goes well.

5. Provide frequent constructive criticism and praise.

Negative criticism can kill motivation in even the most productive of workers. There is a time and place for constructive criticism, but be wary of how you present it and communicate it to your employees.

Year-end reviews are too often a rushed and ingenuine process. Consider revamping or replacing your year-end reviews with a more direct and honest way of communicating.

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