There is a multitude of talented people out there, so how can your company provide the right balance of recognition, challenge, and compensation so your employees aren’t likely to jump ship?
A CareerBuilder survey determined that job-hopping no longer carries the same stigma it used to. About 45% of employers have come to expect new employees will stay with their organizations a maximum of two years.
Companies currently interviewing new candidates also seek to create a climate that allows for the candidates’ growth within their organization while encouraging long-term career paths. But how can they ensure their longevity?
Hiring Someone Who is 75-80% Qualified
During the hiring process, it’s beneficial if the company can identify the candidates who are qualified to perform in their jobs but still have room to stretch and grow. Employing someone for a role that both the candidate and the company know they can perform 100% is a less effective tactic in the long run because they will get bored.
When people in their 20s and early 30s begin a new career, they often demonstrate a pattern of trying out multiple jobs to fast track their careers and find a work culture that best suits them.
One way a company can challenge this statistic is by hiring those who have the necessary skills for adequate job performance while catering to their desire to learn and develop their skills over time. This tactic allows the company to provide more value to its employees and increases the likelihood the employees will be loyal because of the opportunities afforded them.
Provide Online Education
Once a company has hired an employee with a desire and capacity for personal development, they can opt for online courses that provide a sense of pride and accomplishment for their employees.
Some massive open online courses (MOOCs) are free to audit, but certifications are an investment. These courses are offered through some of the most prestigious schools in the nation like Harvard and MIT. A company can appeal to its employees’ desire for continued education by affording them the opportunity to complete these MOOCs and obtain their certificate of completion.
Initiate Leadership Training
It’s likely that at some point in an interview, candidates will be asked where they see themselves in five or ten years. And chances are, they’ll say they see themselves in some sort of leadership position with your company. This is ultimately the driving force in the beginning of many careers, but can quickly turn to burnout when the employees no longer feel they are moving forward.
If the goal is to retain employees long-term and to employ them for years to come, then it’s wise to consider formally preparing them for their careers in leadership. It not only bolsters their confidence in their pursuits with the organization, but it also creates a solid foundation for the company’s future leadership team.
Maintain Regular Performance Reviews
Performance reviews can have a reputation for being an annoying formality, which couldn’t be further from the truth when looking to retain employees.
Conducting regular performance reviews opens the dialogue between employees and their leaders to talk about growth, goals, and the needs of both the company and the employee. Create an environment that encourages candid feedback, mini-promotions, and added responsibility. Employees are then encouraged by performance reviews because they are a time to be recognized and valued for their hard work, and potentially open up avenues for advancement with each review.
WorldBridge Partners can help your company grow its team with valuable, long-term candidates. Contact us to learn more about our candidates who want to grow with companies like yours for years to come.