Smart employers prioritize understanding what their top-performers want and need - and give it to them.
Studies by the labor bureau show that the average American will hold roughly 11.3 jobs throughout their working years, with that number is likely on the rise. Additional research shows nearly 3 out of 5 employees are currently job hunting. Given the numbers, it’s clear that organizations that don’t actively and proactively combat turnover, will lose critical employees.
In many companies, employee retention issues are ignored until employers suspect a top-performing employee might bail. At that point, the issues are addressed by offering the worker increased compensation, or some other form of enticement to stay - and then it’s back to business as usual.
While these practices may work in the short-run, they do nothing to generate long-term company loyalty. A better approach to employee retention practices is to understand what your employees want and need - and to make a strategic decision to fulfill them, before they look to leave.
The best practices for employee retention are not reactive, but instead - proactive. Without a focus and an understanding of your talent, behaviors, and what employee engagement and recognition strategies work best for your company culture - implementing the best employee retention practices can be difficult.
Employee retention practices are critical to your business’ success for these two reasons:
- Turnover is expensive
- Top-talent drive business performance
Work Institute research studies are an opportunity for your business to understand the issues that are motivating - or demotivating your high-performance employees. We believe focusing on your talent, employee behavior, and employee engagement isn’t just a one time deal - that it should be performed over time to track success and room for improvement.
Developing employee retention best practices for your business starts with finding out how your current and exiting employees really feel about the job, your company - and most importantly, WHY they feel that way. With the help of Work Institute, we will help you discover what’s working - and what needs help when it comes to retaining top talent, so you can take the necessary actions to improve, and save your company thousands - or even millions of revenue.
WORK INSTITUTE CAN HELP
We would love the opportunity to earn your business. Call us now to schedule your free consultation to discuss your specific employee recruiting challenges.