Top ways to retain talent in 2020

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Top ways to retain talent in 2020

As we approach January 31st, the day employees are most likely to hand their notice in, a flexible workspace provider have given their advice on how to retain talent.

Instant Offices have given 10 ways in which a company can hold onto its talent.

  • Remind staff why your company is great

Company loyalty is on the decline as only 6 per cent plan to stay in their current place of employment.

  • Discuss opportunities for career growth

At the beginning or ending of a year, employees tend to take a clear picture of their career growth to see if their skill set is growing or if they have become disengaged. The majority (80 per cent) of HR staff said they would leave a job if there was no development.

  • Encourage learning

The 70:20:10 model seems to be the best approach for employees learning. This is 70 per cent on the job training, 20 per cent learning from others and 10 per cent from training courses.

  • Improve work-life balance

After being able to spend more time with family over the Christmas holiday, employees will be very pleased to know they can do this more often. Flexible working has become one of the most popular benefits, with 63 per cent preferring it to other benefits.

Offering top performers the reward of flexibility or being able to leave earlier once a week during the summer.

  • Re-evaluate compensation

Despite there being other methods to boost employee satisfaction without offering a pay rise, it is one of the strongest ways to keep a member of staff happy.

  • Recognise accomplishment

Employees who feel valued also perform better, and recognised efforts are more likely to make members of the team feel more valued and committed to a company.

  • Hire the right people from the get-go

It pays off to hire the right person for the job, as it can save money and reduce the employee turnover rate. It is beneficial to a company to hire someone who can hit the ground running.

  • Utilise employees’ full potential

Work that employees need to do should challenge them. They should be able to meet their full potential as part of their job.

  • Share your vision

Employees who can see the bigger picture for a company and the impact of their work and where they fit in more likely to be more committed to an organisation.

  • Capitalising on new talent

Research has found 90 per cent of the job market is now candidate-driven which will have a big impact on the job market in 2020.

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