What are the best strategies for talent retention?

Posting date: 03 May 2022

Retention has always been a key challenge for many companies globally. With the level of competition and the changing work environment, employers must find new ways to engage and retain their top talent, particularly in a time that’s been labelled as “the great resignation era”. While offering promotions and further compensations can be effective strategies, employers should still focus on multiple areas of the work experience to retain their staff. Below, we discuss some of the crucial ways to combat turnover and ensure that employees remain at your company.

Create an engaging onboarding experience

It’s important that your new hires have an engaging onboarding experience and are set up for success from the start. This means the onboard process should introduce employees to the responsibilities and demands of the role, as well as the company culture and how they can contribute to it. Managers must integrate the employee into the company and create an environment where they feel accepted. Therefore, offering quality support and training sets the tone for the employee’s experience at the company and is key to retaining them long-term.

Provide continuous feedback

All employees need positive and constructive feedback to be able to succeed and perform at their best. When an employee receives feedback more frequently from their manager, it can drive motivation and increase engagement. Having regular conversations with your employees enables them to understand the progress they’re making, as well as help identify areas of improvement. Relevant and quality feedback also means employees will know what’s expected of them and how their performance is judged. When there’s a high level of clarity between an employee and a manager, this can create a strong relationship and increase the chances of retention.

Acknowledge milestones

Recognising your employee’s achievements and milestones is another effective retention strategy. Whether your employees finish a complex project, achieve a new target or reach a fifth work anniversary, take the opportunity to acknowledge the milestone by showing your appreciation. This could be as simple as reminding them of their value or holding an informal meeting where the whole team can appreciate the key milestone. Other ways to celebrate milestones could be presenting special awards, encouraging a holiday for longer-tenured employees, or gifting them something meaningful, all of which show you care about the employees’ wellbeing – which can lead to higher retention.

Prioritise growth and development

As part of providing continuous feedback, you need to help your employees grow and develop professionally. This means identifying opportunities for building new skills and improving on weaker areas, as well as helping them evolve. The best managers and leaders are able to create clear career paths for their employees and provide mentorship to pave the way for continuous advancement, and even leadership skills. Investing in your employees’ growth and development is one of the best retention strategies, as it demonstrates to your team that you’re actively thinking about their career advancement. Also, supporting professional development boosts morale and creates an extra level of trust between an employee and their manager.

Swisslinx is a leading talent partner

As a leading talent partner, Swisslinx understands the importance of talent retention and how to get the most out of your employees. We’ve proven to be an expert in a range of core recruitment markets, such as financial services, digital and technology, and healthcare and life sciences. Over the years, we’ve provided our clients and candidates with an exceptional recruitment service, delivering market-leading advice and expertise. We’ve worked with many organisations for both permanent and contract recruitment. Contact our team today for more information.