9.2 million job openings were recorded in June 2021 because hundreds, even thousands, of Americans are currently leaving or thinking about leaving their jobs. This is due to several different reasons that were all compounded by the pandemic.
If your company is seeing high turnover and is becoming worried about how to manage this type of talent shortage, read on for some tips on how to keep and grow quality employees:
1. Solidify Your Employee Brand
You can do this by polling and surveying current employees on what they think the company brand is, should be, and needs improvement on. Work with your team to figure out what the company is known for and good at. Working with marketing can help ease this process as well.
2. Optimize Your Recruiting Efforts From Leadership
It’s important to recruit from the top down. Leadership should be aware of what kind of talent the company needs and wants, and it’s up to them to communicate that to hiring managers and recruiters. A lack of awareness from leadership is going to detrimentally impact the type of talent the company finds.
3. Increase Learning and Training
A company that offers growth, upward movement, and training for their employees is one that will not see as much turnover. Not only will training and learning programs make the employees happy, but it will only assist the company itself because they will ultimately benefit from a stronger and more knowledgeable employee pool.
4. Become Known for Benefits and Equal Pay
This is a no-brainer. If your company has shoddy benefits and is on the low range of salary payments, you are going to see an exodus of talent that is heading off to find a job with better pay and benefits. Don’t just pay your employees fairly, become known in the industry for being a company that takes care of its people.
5. Make Diversity & Inclusion A Cultural Pillar
It’s incredibly important to create a diverse and safe cultural community in your company. Some ways to dismantle biases to help with this cultivation can be found HERE. Companies that work on being a good culture fit for everyone tend to see less turnover in general because people feel included and heard.
6. Modernize Talent Development
Talent development has changed quite a bit even over the past five or ten years and companies need to play catch up to make sure they are modernizing their talent development processes. One of the ways you can do this is by working with an outside placement firm like Advanced Hires who has the skills and bandwidth to find uniquely matched candidates for what you’re hiring for.