10 Secrets for Retaining Your Best Recruiter-Sourced Employees
9 December 2016
According to Investopedia, the average ‘break-even’ point for new employees (the point at which the recruitment and training is paid off by the employee’s productivity) is 6.2 months. If an established employee leaves, it will take more than half a year to get their replacement up to a base level of productivity. Retaining new employees is not just imperative for productivity, it is also the fiscally responsible thing to do.
Your recruiter has done an excellent job. You have managed to get on board some excellent new talent. However, the next step can often be the hardest. How do you get good employees to stay?
So how do you retain your best recruiter-sourced employees?
1) Run a Meritocracy
A happy office will not promote on personal preference or internal politics. It will promote on merit. If an employee is doing a great job, recognise and reward them with a well-deserved promotion or salary increase. Your other employees will note that you are applauding effort. Resulting in them doing their best to be recognised in the same way.
If an employee enjoys their current work, a promotion could be as simple as a change of title and an increase in salary, rather than anything to do with workload or work substance.
2) Pay Above-Board
Money talks. There is no way around it. And if you are looking to keep the best people, your money may have to talk louder than your competitors. By paying above the market rate, you are showing your employees that they are truly valued.
A salary that sits 20 to 40 percent above average should be more than enough to quash any money grievances. Just be sure to read up on the legalities of paying above award.
3) Ask for and Act on Input
Your best employees will be experts in the field that they are working in. As such, they should be heard.
You need to create a forum where an open discussion can occur between you and your employee about what things need to change, and what things are working well. While all of the suggestions may not be put into practice, the main thing is that you are showing your employees that you value their input. They will appreciate that.
4) Encourage Innovation
While input on current operations is important, so too is input on the direction that your organisation. Use a similar open forum to give employees the chance to spitball ideas. Allocate a budget—of both money and time—to test out these ideas.
Encouraging innovation not only keeps your employees engaged and interested in their work, one of the ideas could increase efficiency, or maybe even open up another revenue stream.
5) Loosen the Leash
For employees that are great at their jobs, nothing is more off-putting than an overbearing manager. If the employee is worth their salt, they will know exactly what needs to be done, and when it needs to be completed. A manager who needs constant updates or has a tendency to micromanage may drive them away.
If they are good at their job, loosen the leash. Set them a task or project, offer support if needed, and leave them to it.
6) Promote Friendly Competition
Friendly inter-office rivalry can spur on productivity, and keep your star employees interested in their work. Form your employees into small teams, and get them working on similar projects simultaneously. Then offer a reward to those who do the work better or quicker.
7) Don’t Manage. Coach!
Grown men and women do not want a school principal standing over them. Empower your employees to manage themselves. Give them responsibilities and guide them to a point where they meet those responsibilities. By coaching your employees rather than managing them, the resultant self-sufficiency will eventually lighten your workload too.
8) Make Expectations Clear
Clarity is paramount to retaining your best employees. If a message or instruction is misinterpreted, the consequences can be dire. The expectations for each employee should be set in stone and there should be a structured set of consequences for those that do not meet those expectations.
While this clarity can often come across harsh at first, it pays itself off enormously in the long run.
9) Celebrate Success Tangibly
Any manager of people worth their salt will be sure to celebrate their employees’ successes. But while a group email and a glowing performance review are important, they can start to become expected. Truly excellent performances deserve something greater.
Dinner on the company. An afternoon off before a long weekend. A group night out. These things are tangible, and appreciated.
10) Clear out the Dead Wood
Perhaps the hardest part of retaining your good employees is clearing out those that are holding them back. Whether these people bring a bad attitude to the table, are lazy, or stir up office politics, their removal is a non-negotiable. You and your star employees cannot be expected to shoot for the stars if you are carrying dead weight.
Good employees leave organisations all the time. But this is often due to reasons that are preventable. By keeping in mind these 10 tips, you are well on your way to a healthy retention of your new recruits.
So, if you are seeking to fill the next appointment whether it be a temporary, labour hire or permanent recruitment contact Youngbrook Recruitment. Speak with one of our experienced recruiter who do great work, because they love what they do. Phone 07 3399 6899 or contact us online.
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