Retaining talent within a company is critical to ensuring the success and growth of the organization itself. The most capable and motivated employees can contribute significantly to the achievement of company goals, bringing added value that is not limited only to their specific skills, but also to their ability to collaborate effectively with colleagues.
The issue is also related to reducing hiring and training costs: according to a Glassdoor study, the average cost to hire a new employee is about $4,000, not including training and integration costs. Keeping talent in the company reduces these costs and allows the company to invest resources in other areas.
Taking care of your employees also means higher customer satisfaction: according to a study conducted by Harvard Business Review, companies that have high levels of employee satisfaction also have high levels of customer satisfaction. Satisfied and motivated talent are able to deliver better customer service and implement improvements in the customer experience.
In this article we will explore, point by point, some methods to ensure retention in the long term.
- Create a positive work environment
A positive work environment is vital for talent retention. Countless studies show that employees who feel happy and satisfied at work are more motivated and engaged, and consequently less likely to seek employment elsewhere.
To create a good work environment, the organization should invest in corporate culture, promoting values such as integrity, respect, and collaboration. In addition, the company should ensure a healthy work-life balance, so as to make sure that employees do not feel overwhelmed by work and that they have the time and space they need to relax.
Indeed, a fundamental aspect today, as never before, is the creation of an environment that can ensure the integration of diversity and that can contribute to narrowing the gender gap through the application of policies regarding Gender Equality.
We invite you to read our article on this subject: https://www.ambire.net/la-certificazione-di-parita-di-genere/ and we also invite you to read our Gender Equality Policy: https://www.ambire.net/paritadigenere/ reminding you that we at Ambire Società Benefit, in addition to having recently obtained Gender Equality Certification, can accompany organizations to achieve it through our strategic consulting and experience.
- Provide opportunities for growth and development
Talents in the company want to grow professionally and improve their skills. The company should offer training and development opportunities, such as trainings, mentoring programs, and professional improvement projects.
In addition, the company should also create a career plan so that employees understand what opportunities there are for advancement within the organization. This way, employees will feel they have a future in the company and will be more motivated to work hard to achieve their goals.
- Offer incentives and recognition
The company should reward its employees for their work by offering incentives such as bonuses or promotions. In this way, employees will feel appreciated and will be motivated in continuing to work hard. However, the mere financial side is no guarantee of personal and organizational well-being: welfare policies are needed to ensure a range of benefits for all employees.
Important, therefore, is that the organization can offer formal recognition, such as awards or public statements of appreciation, for those who distinguish themselves and contribute, in an excellent way, to the growth of the company. These public recognitions help build brand reputation and spur and motivate employees to do their best.
The issue is strongly linked to increased productivity: according to a Gallup study, companies with high levels of employee engagement have 21 percent higher productivity than companies with lower levels. Motivated and engaged talent are able to bring added value to the organization, increasing its productivity and market competitiveness.
- Create a culture of feedback
A culture of feedback is essential for enhancing talent in the company. Constructive feedback allows the worker to understand how he or she can improve and what his or her strengths are. In this way, the person feels valued and appreciated, even when receiving constructive criticism.
Feedback should focus on both strengths and improvement points, so that the person can understand what he or she is doing well and what he or she can improve.
- Maintain open and transparent communication
Open and transparent communication between employees and managers is essential to ensure that talent feels engaged and valued. The company should ensure that employees are informed about the organization’s future plans so that they can understand its future direction and feel that they are an integral part of the organization’s success.
Open communication should be encouraged on all levels: managers should be available to talk to employees, listen to their concerns, and answer their questions in a transparent manner. In this way, staff will understand that the company truly cares about them and is committed to creating a healthy and participatory environment. Finally, it is also important to encourage communication among colleagues, promoting collaboration and the exchange of ideas: this will foster team cohesion and the sharing of knowledge and skills.
