How to retain top talent in 2017: lessons we learned from some top tech companies
Generally speaking, employee retention initiatives are all about encouraging employees to stay for a longer period. For HR professionals, it is one of the most important KPIs of their work. From a business manager perspective, employee retention tactics are a valuable part of motivating your workforce and encouraging them to produce their highest quality work.
Here are just a few reasons your company should consider employee engagement and retention a top priority for 2017:
- Hiring challenges: Scouting and interviewing potential talent is time-consuming, costly and stressful. You want to be sure that you get it right the first try.
- Employees who leave could potentially join your competition: Yes, even with NDAs and non-compete agreements, there’s no way to guarantee you don’t lose your old employees to your competitors, especially after the terms of your agreement have expired. However, having a strict policy in place is one way to keep people around. But do you want that to be the only reason?
- Long-term employees are valuable assets: Studies show that employees who work for a longer span are more loyal to management and the organization. They are also more familiar with the ins and outs of the business and carry valuable skills.
- Attrition equals lost potential: The truth is some employees contribute more than others, and these are exactly the ones you want to hold onto. If too much of your best talent moves on, what happens then?