Strategies to retain top talent
In our earlier blogs, we have spoken about the job market belonging to the job seeker. Replacing employees has been becoming increasingly challenging, expensive and time-consuming. Companies spend a lot of effort to induct a talent but the employees on finding a better opportunity.
Your employees need to feel at home, and you must ensure that they are happy. It is in your interests that you employ suitable processes to ensure that your employees are satisfied with their work. Organisations need to pay more attention to their strategies. You may also work with some of the top HR consultancy in Dubaifor handholding in these activities. In this article, we will discuss some of the strategies to deploy rather than waiting for the exit interview.
Recruitment of the right people
Retaining your employees start with the hiring of the right talent. While recruiting, you must ensure that the overall outlook of the talent is in sync with your company values. It would not be suitable for you to hire someone who is not in sync with your values. While it might be difficult for the in-house HR team to siphon the top talent, you would need to be in touch with the manpower supply companies in UAE to help you. They have access to more candidates and will be in a better position to provide you with the best candidates.
Understand why your employees are leaving
When your employees are moving, you need to imbibe a process to understand the reasons behind their leaving your company. While the exit interviews can help, you also need to connect with their immediate seniors and peers and try to understand the reasons for their leaving? Were they achievers or underperformers? The way to approach both these sets of employees would be different. You must undertake periodic surveys to gauge the mood of your employees and act proactively in the feedback provided by your colleagues.
Using a carrot helps
Most of your employees in the middle and lower level would be millennials. Almost 85 of them prefer a work-life balance. Research suggests that working long hours can lead to burnouts. It would be best if you organised seminars and workshops and spread the message of working smart and ensure more productivity by maintaining work hours. A strict working hour policy can be of help.
Providing ESOPs can also help. Being part of the growth path, your employees will be obliged to give their best effort for the company. Your employees will feel firmly attached to your company. Again, simple words of motivation work wonders. Most organisations have a “Best Employee” or “Star of the Quarter” awards. Awards and recognition improve the chances of the employees having a better appraisal.
Career development opportunities
Understanding that employees value their careers, most companies are providing various career development opportunities. Some of the best employees are sent on study leave for higher education. Organisations also cross-skill and up-skill their employees. Periodic re-skilling workshops are organised to make employees aware of the latest developments in their field. The software companies are the early adopters in this area. You can also organise skill development training to make your employees aware of new technologies.
Creating a proper career path
All employees would love to see their career grow. It would help if you had adequate communication channels to make them understand that you do care about their career growth. It could entail understanding whether they would be open to other positions within the organisation. You may offer to re-skill them in other departments.
The bottom line
We have learnt about some of the basic retention strategies for your employees. However, it is suggested that you take the help of experts to advise you in this regard. Because whatever steps you take, there will be some turnover in talent. You can take the help of an HR consultancy in UAE to help you in retaining your top talent.
