{"id":2697,"date":"2020-06-08T06:00:00","date_gmt":"2020-06-08T04:00:00","guid":{"rendered":"https:\/\/nailted.com\/blog\/?p=2697"},"modified":"2024-06-18T16:21:34","modified_gmt":"2024-06-18T14:21:34","slug":"3-simple-talent-retention-strategies","status":"publish","type":"post","link":"https:\/\/nailted.com\/blog\/3-simple-talent-retention-strategies\/","title":{"rendered":"Turnover in Talent? 3 Simple Strategies to Retain Your Best Employees"},"content":{"rendered":"\t\t
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As any company owner knows, hiring great talent isn\u2019t easy. But the challenge doesn\u2019t end when hiring is over. Preventing turnover <\/strong>of this same talent can also represent a significant hurdle for companies.\u00a0<\/p>\n

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Surprisingly, some of the world\u2019s most successful and famous companies see a relatively high turnover rate<\/a> (Facebook employees last an average of 2.5 years; at Tesla, 2.1 years). The tech industry alone sees a churn rate of 13.2% \u2013 an astounding percentage, considering high average salaries in tech, along with great benefits.\u00a0<\/p>\n

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High employee churn is damaging. Not only does turnover potentially result in the loss of your most valuable talent and knowledge; it represents the loss of time and money you\u2019ve invested in the employee, including hiring and onboarding. Turnover can also result in damage to ongoing projects, client relationships, and processes.<\/p>\n

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Finally, a high turnover rate can decrease company morale, which can unfortunately cause a domino effect.<\/p>\n

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All that being said, it pays off (literally) to be proactive in preventing employee churn. Here are three simple strategies leaders and managers can employ to hold onto talent and create more loyal, long-term team members.<\/p>\n

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[content_upgrade cu_id=”2688″]Hiring New Employees? Download A Guide to Hiring (and Retaining) Great Talent Now[content_upgrade_button]Click Here[\/content_upgrade_button][\/content_upgrade]<\/p>\n

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1. Develop a transparent, friendly culture<\/h2>\n

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Prospective employees \u2013 especially millennials \u2013 are looking for employers with strong company cultures<\/strong> as well as competitive salaries and great perks.\u00a0<\/p>\n

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But a healthy company culture is about more than bean bag chairs in the office and free beer on tap (although those might help). It\u2019s also characterized by transparency, general friendliness, and positivity.\u00a0<\/p>\n

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\"turnover\"<\/figure>\n

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Here are a few ways to promote an honest, open, and warm culture that will help your employees appreciate their at-work life:<\/p>\n

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Create a culture of feedback<\/h3>\n

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Giving and receiving feedback<\/strong> is a critical part of building healthy company culture. Feedback proactively addresses stagnancy, unhealthy workflows and communication, and creates a culture where the voices and opinions of all employees are valued. But feedback works best when it\u2019s integrated into a system or process; otherwise, it simply won\u2019t happen.<\/p>\n

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Nailted<\/a> helps companies collect employee feedback with a routine for giving and receiving that feedback. Team members can give their peers \u201cclaps\u201d every Friday (which are then received on Mondays), plus provide optionally anonymous feedback to leaders through short, non-intrusive surveys that generate targeted insights.\u00a0<\/p>\n

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The result? Improved company culture and<\/em> a useful opportunity to exchange feedback that can help improve individual and corporate performance.<\/p>\n

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Start with healthy leadership\u00a0<\/h3>\n

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A healthy company culture begins with healthy leadership. When your employees are too afraid to speak up for fear of angering management or breaking status quo, then you know that you haven\u2019t created a culture of transparency.<\/p>\n

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Leaders can set a precedent for clear, honest communication, by:<\/p>\n

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