Working Smarter to Retain Top Talent

Worker Collage

By Izzy Galicia
President & CEO
, Incito Consulting Group

In today’s post-pandemic work landscape employers are focused on retention and employee satisfaction, perhaps more than ever before. the Great Resignation has led to a shift in the power struggle between employees and employers, with many workers realizing they did not necessarily have to work harder for less money and less respect in this new world of work. The onus shifted to the employer to attract top talent, take good care of that talent and retain them. 

Technology innovations have also helped organizations work smarter to form stronger, better-connected and more productive teams. HR departments now have a host of tools in their tool belts to help stop the flow of talent out the door and make their talent highly engaged and satisfied with their roles within the organization.

Attract and Retain 

In this new work environment — where more people work remotely, are offered better benefits and focus on stronger diversity and inclusion measures from their employers — HR professionals will have to cater to this shift if they hope to attract the best employees.

Izzy Galicia
Incito Consulting Group’s
Izzy Galicia

To attract top talent, HR professionals should consider their company culture and what new hire attributes would best fit within that culture. Some recruiters have started implementing artificial intelligence in their recruitment efforts to help them organize and analyze applicant information in order to quickly and accurately pinpoint those applicants that would do best within the organization’s unique environment. Data insights gleaned from AI recruitment processes can effectively revolutionize an organization’s hiring approach, leading to better selections and retention.

Retention is the primary focus of most employers in this age of the Great Resignation, where workers will happily leave for “greener pastures” if they feel their needs are not met by their current job. The first step toward happy employees who stay happy employees is paying a fair and competitive wage. 

According to Pew Research, the top reason why people leave their jobs is low pay. To attract and retain talent, an organization’s salary offerings must be transparent and in keeping with the market. Once people are attracted to your competitive pay rates, using paycheck programs such as Paycom or Paychex can ensure that one’s talent is paid on time.

After someone is hired, their onboarding experience matters. Utilizing technology to make your onboarding seamless, efficient and standardized can help new hires feel more valued and welcomed. It can also get them started with their position faster, which is a positive for them and the organization. 

Community and team building also play a role in retention. Through communication tools such as Slack, even remote teams have been able to connect with one another meaningfully and forge bonds, much like those in brick-and-mortar offices. It’s up to employers to give their teams — whether remote or in-person — the tools they require to forge community connections with their coworkers. 

Maintaining the Best Company Culture 

Company culture is a crucial factor in whether employees stay or choose to leave. Companies need to ensure they have an open ear and open mind to employee feedback and suggestions on how to improve the workplace. Feedback and satisfaction surveys can help leaders shift their company culture if they show changes are necessary.

If a company culture needs an adjustment, that should be evident from employee feedback. Employers should ask what benefits employees are looking to have offered, what issues are of concern to employees and develop robust plans to address those issues before resignations start pouring in. 

Another reason why employees decide to leave their jobs is the lack of advancement opportunities. Today’s top employers provide opportunities for their employees to learn, grow and further their careers. There are numerous programs available to help employers offer professional development to talent — such as online coaching and mentorship programs — and many employers offer incentives for completing such programs. When employees feel their leadership wants them to grow in their careers and succeed in their roles, they are more apt to stay with a company and take advantage of what the company offers in terms of career development.

Company culture is far more than just another buzzword, it is an integral factor in any workplace. Without a well-developed and thoughtful culture, employees are more likely to look elsewhere for employment. Taking care of employees in today’s economy includes a combination of listening, acting and integrating technology to best serve employee needs. Companies need to recognize that the working world is rapidly changing, and pivot with those changes to retain the talent they need to succeed long-term. 

Izzy Galicia is president & CEO of Incito Consulting Group, a professional services and Lean/ Six Sigma business advisory firm. A graduate of Stanford University’s Graduate School of Business, he’s previously held positions with Manex Consulting and GP Strategies.

Image: Kurhan

Previous articleRoundup: Releases Function to Spot AI-Generated Interview Responses
Next articlePodcast: beqom’s CPO Aisling Teillard on AI, Bias and (of Course) ChatGPT