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How Do You Keep Top Talent From Jumping Ship?

The economy is beginning to turn around and employees are starting to feel as though they may have some other job options in front of them. In fact, recent research conducted by Harris Interactive revealed that 33 percent of respondents said they would

The economy is beginning to turn around and employees are starting to feel as though they may have some other job options in front of them. In fact, recent research conducted by Harris Interactive revealed that 33 percent of respondents said they would consider looking for a new job if the business environment stays the same. Keeping this in mind, firms must find a way to satisfy their staff and hope they remain happy in their current position.

"Now that it appears that the extreme highs and lows are behind us, the slow and conservative pace employees are seeing within their own employment situation is causing employees to evaluate if now is the time to see if the grass may be greener with another employer," said Rusty Rueff, Glassdoor career and workplace expert.

Employers turning up retention efforts
Understanding that employees aren't scared to look for new job, it's important that employers begin providing perks to their staff that inspire them to stick around. The survey showed 43 percent reported their company made changes to the number of staff, organizational structure, compensation and benefits. Of the respondents who saw positive changes, 65 percent were given new perks such as the option to work remotely, dress casually and the ability to work flexible hours.

"It is now more important than ever for companies to engage with employees to find out what will keep them satisfied and strategize new ways to attract and retain their workforce, or face an impending growth in their turnover rate," said Rueff.

Providing new perks to employees can also play a role with employee performance reviews. Staff members who feel that are doing a stellar job can approach their bosses with more confidence when asking for a raise or better benefits. The research revealed 40 percent of all respondents believe that a pay raise could be in the works for them, while 21 percent aren't quite sure if they will be receiving a higher salary.

Businesses must ensure new staff will succeed
While some employers are turning up their efforts to retain their staff, certain employees will feel that it is time to move on. This gives companies throughout the country an opportunity to bring on new hires and enact onboarding strategies. A recent article for Inc. magazine outlined some strategies firms can use to improve a new hire's chances for success.

•Embrace new employees: Many business owners are often scared that recent hires will not work out, and they will have to go back to the talent pool. Instead of taking a pessimistic approach to onboarding, it's important to embrace these new employees with excitement in hopes they can become the company's next superstar.

•Choose the right candidate: Businesses often have to take a financial hit when hiring new employees, which is why firms should be very selective when filling their open positions. Hiring managers must be sure that the top candidate wins the job, giving everyone in the firm more confidence in their chances for success.

•Look in the right talent pool: When businesses are recruiting new employees, they must try to find the best candidates to join their team. Discovering the right members of the talent pool isn't as easy as people may think. Considering potential options such as organizations that search for top candidates could be an effective way to find the right employee.

Is your business taking the necessary steps to keep employees happy? If not, what could the company do better to make sure employees are enjoying their new jobs?

Comments

Dan McCue
Title: SVP, Finance & Accounting Services
Company: Sutherland Global Services
(SVP, Finance & Accounting Services, Sutherland Global Services) |

Outsourcing some or all of the Finance and Accounting functions is often an overlooked solution to this problem. Leaders within the organization should to take a step back and think outside of the box, analyzing all options when considering who would be the best long-term fit for their team. Not only does outsourcing give you access to top talent and minimize the risk of turnover, it also allows executives to focus on strategic objectives. For the employees that are looking for outside career opportunities, outsourcers are often able to provide a career track that their current employers cannot. This is especially true for SMBs.