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Five Ways to Retain Great Employees

Thursday, July 11, 2019

In his latest article, Orion Talent CEO Mike Starich writes about the five ways middle market firms can stanch the loss of talent to larger organizations. “Stop the Brain Drain: Retaining Middle Market Talent”, written for The National Center for the Middle Market, explores how, despite possible disadvantages like lean talent acquisition teams or less sophisticated ATS platforms in comparison to larger firms, middle market companies can leverage their strengths, speed and flexibility, and retain talent. Below are five tips to get started:

1. Build trust from the start: Trust needs to be established as early as the interview process. This begins with how you represent a typical work day and extends to goals and performance expectations.

2. Get serious about data: In addition to typical HR statistics, companies should also collect data such as attrition by hiring manager, department and function; as well as  exit interview records, to name a few. This data can help identify, alter, and repair attrition.

3. Make upskilling and retraining a priority: Introduce programs like in-house training or reimbursement for outside-company training or certification classes and the associated costs for prep materials, training, and exams. 

4. Weed out bad managers: Often employees leave their manager, not the job.  If you identify a weak manager, consider training programs that can place the manager back on the right track.

5. Give employees what they want most: Employees appreciate engagement that reveals the importance of their job.


To conclude, Mike points out that the key to retention is “Innovative and meaningful work. A good boss and a great team.” A retention program does not have to be expensive and begins with evaluating what your strengths and weaknesses as an employer.
 
Read all of Mike’s tips in full here and retain the talent your company already has today.

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