Five Tips for Retaining Talents in Your Company
And if you want to free up even more HR resources to focus on business-driven strategies, outsourcing this task to PEO services may make your life a lot easier.
The Great Resignation has employees leaving their jobs globally to pursue other interests or to gain greater appreciation elsewhere. As an employer, you might be racking your brains as to how to retain them. How do you dissuade them from leaving? What can you do to encourage employees to stay on and continue doing their good work?
It is no surprise that you can retain talents in your company by offering relevant work benefits. But beyond paying attention to your employees’ welfare, what other factors should you be mindful of? Here, we offer you five additional tips on retaining talents in your company and keeping your company thriving.
1. Flexibility is key to retaining talent1
Employees are demanding flexibility at the workplace today and this makes traditional workplace expectations obsolete. It is evident that they desire more autonomy to integrate work into their daily lives. No longer are they keen on squeezing their personal lives and priorities into the gaps that a typical workday used to give them.
And by giving employees what they want, you can easily retain top talents, boost workplace morale, and increase the overall productivity of the company. It is a win-win situation.
2. Positive work culture encourages better work
The work environment is very important when it comes to retaining talent. After all, who would willingly stay and work in a toxic environment? Generally, a positive working environment has several green flags:
- Employees are not continually stressed out
- Employees are not overworked
- Employees do not suffer from discrimination, bullying, abuse
- Employees feel safe, respected, and appreciated
With a good work environment, employees will feel more at ease and ready to deliver good work. Look out for these green flags or try establishing them to ensure higher productivity and a better chance of retaining your employees.
3. Engaged employees help talent retention
According to Gallup’s study, successful businesses make employee engagement their key business strategy and that highly engaged teams have 21% greater profitability.2 Not only that, but engaged employees show up to work with greater passion and enthusiasm, which in turn reinforces a more positive work culture.
Build a positive onboarding experience, set a good foundation for employees to engage and contribute to the company, and you’ll see how your entire company retains talents a lot easier than before.
4. Appreciation goes a long way
Work bonuses and employee benefits do urge employees to stay on, but appreciating their hard work in other ways is as important. A small gesture like a compliment or a handwritten note can go a long way, especially when it expresses your sincere gratitude for what your employees are doing for the company.
5. Varying work tasks keep the 9 to 5 interesting
Although most job scopes are pretty rigid and fixed, employees may appreciate new learning opportunities at work and that keeps them interested in staying on.
Giving your employees an opportunity to grow their own skillsets will allow you to set yourself apart from other employers. In fact, them knowing that you care about their own growth would probably encourage them to work even harder for the company.
How AYP can help you with retaining talents
It can seem overwhelming to juggle running the company and retaining talents in this economy. But you don’t have to do it all by yourself. PEO services such as AYP are armed with the expertise and the tools to manage all important HR functions, which include hiring, onboarding, and retaining talents in the company.
For example, AYP uses analytics and data to help companies keep up-to-date salary benchmarks and fair hiring practices. In fact, more ethnically and gender-diverse leadership in a business actually boosts profits and encourages employees to stay, according to McKinsey & Co.’s 2020 Diversity Matters report. 3
Needless to say, PEO services that use advanced HR technology can play a part in helping you retain talents. And you can get started right away just by outsourcing the tasks to us!
AYP is an award-winning end-to-end HR solution with the expertise and knowledge to help your company strive in Asia Pacific. Find out more by checking out our AYP Global Pay platform, and schedule a demonstration today.