How To Attract and Retain Top Talent In Today’s Modern Workforce
Let’s All Get Along
Companies must understand that comparing the Baby Boomers to Millennials is a big mistake. Bringing the generations together and closing that gap allows room for a more cohesive work place. One way to address this is to listen and adapt to both sides. When companies don’t do this, they struggle with too much turnover.
“The most common causes of employee turnover are reported as no room for growth within the company, the pay isn’t great, an unfavorable work environment, inadequate supervision or training, and the feeling of being under appreciated by leadership…” (Seeker, CEO Insider)
Add Value to Your Company
Glassdoor conducted a study that showed 57% of people make benefits and company perks their top consideration. Allowing such rewards, along with input into the company, make employees feel like they are valued.
“If you don’t afford your employees enough time to pursue their passions and recharge, they’ll eventually burn out. And when they do, they’ll leave.” (Seeker, CEO Insider)
Restructure the ‘9-5’
Millenniums are large promoters of flexible hours. Telecommunication and the rise in technology makes this change more efficient. US employers lose 1.8 trillion every year in productivity due to office distractions. Schedule flexibility and working remotely to improve employee output.
“Gallup Polls have shown that employers who offer the option to work remotely have 25% less employee turnover, and more than 80% of employees consider telecommuting a job perk.” (Seeker, CEO Insider)
Set a Good Example
Trust in management is huge nowadays and employers are not staying places where they do not feel comfortable. There is no more settling. Strong leadership and honesty with employees sets a prime example for the incoming and veteran employees. This allows companies to keep that turnover rate low.
“Offering 360-degree transparency with opportunities for bonuses and employee incentives aids in securing motivated new hires and retaining top talent.” (Seeker, CEO Insider)