Retaining the Good Employee is the sixth and final article in our series, Building a Successful Business One Employee at a Time. This section reviews and re-emphasizes the importance of all the previous articles in helping organizations develop the optimal staff. Previous articles were Attracting Quality Candidates, Conducting the Successful Interview, Matching the Right Person to the Right Job, Orienting the New Hire Into Your Firm, and Supporting the New Employee with the Proper Training.
Organizations today are finding it more difficult to hire and retain quality employees than in years past. During the first half of the last century people left school, began working and, after 30 or 40 years, retired. As we entered the decade of the ‘60’s, a subtle shift began to take place. The culture of the workplace was changing.
Up until that time, the average worker accepted whatever was presented by the organization – the pay, the benefits, the amount of time spent on the job versus time at home, etc. The baby boomers began to question the employer, “is that all there is?”
This change in values was passed from the boomers to their children – the Generation Xer’s and, now, onto the Generation Y’s. As this transition was taking place it substantially changed the world for employers.
Today’s employees place a high priority on the following:
- Family orientation
- Sense of community
- Quality of life
- Volunteerism
- Autonomy
- Flexibility and nonconformity
Some of the main reasons people leave one job for another are:
- Not being suited to the job they are doing
- Lack of being appreciated
- Lack of support in doing their jobs
- Lack of opportunity for advancement
- Inadequate compensation for what is being asked of them
- Poor working conditions
The following steps will assist you in hiring and retaining the best employees for your company.
Examine recruitment and hiring procedures.
- Assess how you find candidates now.
- Modify to find better candidates if not satisfied.
- Determine how well the top candidates match the job using a pre-employment test.
- Review interviewing process and align with targeted selection processes.
- Develop assessment center to determine skill level of candidates for particular type work done by organization.
- Utilize a weighted system to hire top candidates.
Examine why people have been leaving.
- Conduct exit interviews for people leaving the organization.
- Use this information to improve.
- Review current job descriptions and benefits and then modify based on financial constraints of the organization.
- Develop accurate assessment of organizational values. • Review and possibly revise orientation of new employees.
- Develop in-depth orientation program to get new employees integrated solidly into the organization.
- Have weekly individual follow-up meetings with new employees for first six months.
- Utilize criteria presented during orientation as the basis for monthly mini performance reviews.
- Offer training that will enhance employee’s skills or fill voids discovered during the skill assessment phase.
- Explore deferred compensation beyond money that will retain valued employees.
Retaining Good Employees Process
- Access current hiring and turnover ratios
- Identify ideal state of hiring and turnover
- Conduct gap analysis and develop a plan
- Execute plan for improving hiring and retention
- Rinse. Wash. Repeat.
Suggestion on how to use our hiring reports more effectively
Several of our clients report that they read the summary a couple of times before reading the entire report. This enables them to understand why we arrived at our conclusion and subsequent recommendation. Then they use our hiring report to validate other sources of information such as reference checks, resumes, etc. to make their final decision.