3 min read | Dec 12, 2022
How to contract and retain top talent
Many companies are running up against the struggle of keeping their best performers. Employee retention has been an increasingly severe issue in the past two years. According to Pew Research Center, “about one-in-five non-retired U.S. adults (19%) – including similar shares of men (18%) and women (20%) – say they quit a job at some point in 2021.” So how do you onboard top talent and get them to stay? Let’s get started.
It all starts with recruiting and ensuring that you find the right people from the beginning. Draw in the correct staff members who are interested in the contract you are offering. With the right onboarding process, you can set yourself up for success from the very start.
Work on creating a strong connection with your recruits and bonding with them. Recruiting can take many forms, from a formal strategy to a more informal process. Either way, the company should be putting its best foot forward. The first impression is important in setting a positive expectation for the rest of the relationship.
Your company should be taking stock in your competitors, and ensuring that your contracts and compensation can compete. You do not want your top talent to be easily stolen from underneath you, and ensuring that you are compensating them fairly is important.
Keep your ear to the ground as far as the local economy goes too. If rent, interest rates and the cost of living in the employee’s area have gone up, you should try to make their payment match that. The contract should leave some room for improvement, something that can make the employee feel more comfortable in a long-term agreement.
Reward top talent
If you have an employee that is making a big difference in the company, their hard work should not go unnoticed. If they begin to feel unappreciated and undervalued, there is a chance that they will seek out greener pastures. The contract should make it clear that they will be rewarded for excellent and overachieving behavior.
If you have a very talented individual on your team, you have a rare gem and you do not want to lose them. According to McKinsey, about 82% of companies don’t believe they recruit highly talented people. Find ways to compensate and encourage your top performers to stay committed to your business.
Your top talent should never get bored. Scout ways to increase their challenges and offer them support along the way. This could be in the form of professional development, increased educational opportunities and other advancement opportunities. Work with your leadership team to find the right combination of challenge and excitement to keep your best talent engaged in the company.
As your business finds new ways to retain top talent, you’ll need the right staffing support along the way — and Integrity Staffing Services can help. Contact us today to get in touch or learn more about the solutions you need to drive better business results.BACK