Finding and retaining top talent has become increasingly challenging in the last few years. While a 90% retention rate and 10% turnover have historically been considered good, in 2021, the Bureau of Labor Statistics discovered that the annual turnover rate is actually closer to 57%. If you’re looking for ways to make your organization stand out so you can attract and keep top talent, try these strategies:
Write Accurate Job Descriptions
A well-written job description is paramount when it comes to finding qualified candidates. Descriptions need to match the tone of your company culture and list skills, tasks, expectations and role requirements clearly. Also, consider the formatting of your job descriptions. Use headers and bullet points when including specific details so potential employees can easily scan the description and see if it’s a good fit. At the end of the description, you’ll want to include a clear call to action so applicants can easily take the next steps in the application process.
Offer Employee Benefit Packages
Offer competitive employee benefits so that your organization stands out from the rest. The most popular benefits fall into several categories, including health and wellness, financial well-being, work-life balance, career development, and more. By offering a benefits package that includes a combination of these categories, employees are more likely to be drawn to your company and want to stay.
An employee recognition program can help your employees feel appreciated and valued, in turn, increasing employee loyalty. Keep in mind that while all employees want to be recognized for their hard work, they may not want to be recognized in the same way. Respect employees’ wishes and ask them what type of acknowledgment feels best for them.
Keep an Eye on Employee Engagement
A key component of employee retention is employee engagement. When employees are highly engaged in the organization, it can reduce turnover while simultaneously increasing company morale. One way to boost employee engagement is by encouraging honest feedback and creating a culture that values open communication in the workplace.
Keep these tips in mind as your organization works to attract and retain top talent.