Finding and Retaining Quality Talent in 2018
Finding and retaining quality talent has always been a human resources issue but HR experts are sounding the alarm, calling this the most-critical challenge of 2018. Low unemployment and a candidate’s market continue to amplify the issue, making it harder to find candidates who are willing to make a long-term commitment. Once found, employers must have a plan to retain good talent while providing a barrier against the call of the “next big thing” that’s rampant in a culture of job-hopping and negligible employee loyalty.
Seeking New Horizons
The timely answer is finding unique solutions that will allow employers to retain their best performers before those individuals decide to take matters into their own hands and seek other options. Today’s choices make it easier than ever to easily switch jobs. For many, all it takes is the perception of a more interesting option to prompt a job search.
The desire for something new coupled with a lack of challenges, a bad manager or lackluster pay can be further inducements to look for new employment, according to a report from Randstad Employer Brand Research. Those looking to retain employees long-term must learn what staff cherish in the company brand and the reasons why they choose to remain employed with the company, according to the HR services leader.
Reasons Why Employees Leave
- Unsatisfactory compensation – 44 percent
- Limited career path – 43 percent
- Insufficient challenges – 30 percent
- Work-life balance issues - 28 percent
- Lack of recognition – 27 percent
Room to Grow
While many might assume employees first follow the money, financial aspects are less important than working for an employer in a role that provides upward growth. Almost half (47 percent) of those surveyed by Ranstad Employer Brand Research said a limited career path would influence a decision to seek a new job. Allowing and encouraging employees to grow and expand their skills could be one of the most important ways to retain talented staff. In addition to providing a more expansive skill path, this journey also includes the provision of a quality work-life balance, achievement recognition and rewards for a job well done.
Employers Hitting the Mark
One of the keys to becoming an employer of choice is understanding what employees want and need. This could include, but isn’t limited to, salary and benefits, job security, work-life balance, a positive work environment, career progression paths, flexible work arrangements, quality managers, ongoing training, financial health and a good location.
When viewed collectively this is no small endeavor; but considering an estimated 45 percent of employees have changed jobs or are planning to change jobs in the next 12 months, implementation of such tactics is wise. Plus, these actions are mutually beneficial, providing long-term success for a company and its staff. If you’re not sure where to start, ask your employees both new and established. They will quickly tell you what’s working and what’s not and they’ll often know where to start.
This article is brought to you by Staffing Kansas City, a Kansas City employment agency that provides “Personnel Services with a Personal Touch.”