Recruiting the best talent is a challenge in itself, but the true success of a company lies in its ability to maintain this preciously acquired talent.
As companies invest time and resources to identify, attract, and recruit exceptional candidates, post-recruitment retention becomes just as critical, if not more so.
Indeed, keeping employees engaged and satisfied within the organization is the key to preserving their expertise, stimulating the company’s growth and maintaining a positive work climate, confirms Élaine Marcoux and Pierre Chaput, our HR and HR experts.
It raises various issues, notably balancing the company’s success and employees’ development. On the one hand, companies must maintain a stable workforce to ensure business continuity, reduce recruitment costs, and train competent employees.
On the other hand, they must ensure that employees feel valued, motivated and satisfied with their work, directly impacting productivity, creativity and retention. Retention challenges also involve:
Companies must find effective strategies to address these challenges, as retention is critical to preserving expertise, reducing employee turnover, and maintaining a motivated and engaged workforce.
Turnover, or turnover, refers to the frequency with which employees leave their positions for various reasons, such as more attractive job opportunities, job satisfaction issues, or a lack of cultural alignment.
Employee turnover can be highly costly for businesses, leading to significant expenses related to recruiting, training, onboarding new employees, and lost productivity due to vacant positions.
High turnover can also compromise continuity of operations and quality of service. Post-employment retention aims to establish a positive work environment and meet employee needs, helping reduce attrition, save resources and maintain a stable workforce of competent and engaged employees.
When a company recruits talent, it invests in developing skills and knowledge specific to its needs.
However, if employees leave the company prematurely, the company risks losing the specialized skills they have acquired and the investments of time and resources devoted to training them.
Maintaining expertise means keeping these skills within the company, ensuring operational continuity, consistent quality of service, and the ability to solve complex problems effectively.
As mentioned by Élaine Marcoux and Pierre Chaput, our HR and recruitment experts, maintaining expertise avoids constantly recruiting and training new employees to replace those who leave, representing both a financial and a loss of productivity. By investing in post-employment retention strategies, companies maintain and strengthen their expertise base, essential to remaining competitive in the market.
Satisfied employees are more likely to stay with the company for the long term. They are motivated, engaged and invested in their work, which increases productivity.
Additionally, satisfied employees are often strong ambassadors for their company, which can help attract new talent. To improve employee satisfaction, companies must create a positive work environment, provide professional development opportunities, recognize and reward employee contributions, and foster open and transparent communication.
Investing in employee satisfaction strengthens their culture, reduces employee turnover, and promotes long-term growth. This vital issue should be considered in the overall post-hire retention strategy.
Companies must implement effective strategies beyond financial benefits to succeed in employee retention. One such strategy is cultivating employee engagement and satisfaction. It starts with:
In addition, flexibility in schedules, the possibility of teleworking, and attention to work-life balance are critical elements of employee satisfaction.
Companies must also consider their employees’ needs and expectations and tailor their policies and benefits accordingly. By investing in these strategies, companies can create an environment conducive to talent retention, which helps reduce employee turnover and maintain a competent and engaged workforce.
Employee retention is a profitable business investment, reducing costs and promoting performance and stability. It also helps strengthen company culture and build a positive reputation.
Here are some examples:
Open and transparent communication helps establish clear expectations between employer and employee. New employees must understand their roles, responsibilities, company goals, and organizational values.
Effective communication also facilitates the onboarding process for new employees. They feel more welcomed and supported when informed about company policies, procedures and resources.
Employees, especially new ones, need regular feedback to know their performance and where to improve. This contributes to their professional development and their adjustment within the company. Managers must provide constructive and specific feedback to help employees improve.
Communication and feedback are crucial to building solid relationships with employees, helping them thrive and remain loyal to the company. This strengthens retention, engagement and overall organizational performance.
Take the path to success by strengthening your employee loyalty. Contact us now to find out how to create an environment conducive to professional growth and ensure lasting loyalty within your team.
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