Hiring new employees is a huge time investment. Growing your small business sometimes takes labor from various departments, with hiring contributions from a lot of people. After all that, you want to be sure the new hires stick with you and become valued members of the team.
Employee retention is a concern in companies of all sizes, but for small businesses, it’s especially vital to avoid costly disruptions. More than just offering a bonus or a perk here or there, employee retention practices start with the first job posting and go well beyond the interviews and job offers. Here are our best tips for better employee retention.
1. Crafting Clear Job Descriptions
Job seekers likely read dozens if not hundreds of job descriptions. The typical cliché language (“rockstar”, “go-getter”, “team-player”) starts to blur together and might even make a candidate click right on by your posting. From the first interaction with your company, you want a potential hire to stop and feel intrigued, impressed, and interested in submitting a résumé without delay.
Avoid vague language that doesn’t accurately describe the work or, worse, actively misleads someone. There’s no better way to chase someone off than by revealing a totally different set of responsibilities than what was listed in the posting.
Rather than recycling old postings with a few changed words, consider taking the time to rewrite in a conversational tone that sounds welcoming and has enough specifics to help the right candidate apply. Share just enough about the company to make you stand out, e.g. the most important product you sell, a tidbit about company culture, or any relevant accolades. Chances are the candidate will seek out your website and social media, but remaining deliberately mysterious doesn’t serve anyone.
ApplicantStack provides an ideal system for creating and sharing job descriptions. You’ll never have to go searching in the cloud for that one missing document ever again. Plus, templates make it easy to save the information you need.
2. Ensuring Salary Transparency
Many companies lean towards always posting a salary range in job postings, particularly those in states where legislation has been passed to require it. Some companies remain squeamish, though, and industry experts suggest “without it, employees—and job candidates—trust those companies less, which in turn could blunt companies’ competitive edge.”
No one is willing to work for free, so an awkward culture around salary discussion and negotiation can be a big reason why you can’t retain valuable employees. Salary transparency goes beyond that initial description in the job posting. It also means your employees are free to discuss compensation without fear of retribution. It means management is willing to discuss compensation matters outside of scheduled performance reviews. Openness around a formerly taboo topic can very well be the reason an employee stays or goes.
3. Providing Access to Flexible Schedules
A Pew Research Study in 2021 found that 45 percent of people who quit a job in 2021 cited “not enough flexibility to choose when to put in hours” as their reason. To be sure, 2021 was a unique time in the world’s history, but for many workers, a flexible work schedule became non-negotiable. There are some jobs where fully or even partially remote work isn’t a good fit, but where possible, a flexible schedule may be the thing that can help you hire an ideal candidate in the first place and keep them satisfied in the longer-term.
It may take some creative thinking to figure out how to transform a former in-person job to something fully remote or hybrid. Chances are, you’ve been applying creative thinking all over the company since 2020. There is real power in negotiation and compromise in helping talented employees stay and give quality work.
4. Creating Advancement Opportunities
In that same Pew study from 2021, a whopping 63 percent of employees who resigned cited “no opportunities for advancement” as their reason. The ebb and flow of small business growth may mean that day-to-day operations sometimes take precedence over keeping up with employees’ career aspirations. However, based on that statistic, it’s clearly worth some curiosity.
Though some employees might be an open book when it comes to ambition, others might be quietly harboring resentment that they aren’t approached for raises or moves up the management ladder. Developing a company strategy for frequent check-ins may prove to be one of the most valuable ways to retain employees. This kind of open communication may reveal opportunities for mentorship or even previously unknown skills that are a good fit for other jobs within the company.
5. Offering Competitive Perks and Benefits
An on-time paycheck, health insurance, and a safe space to work are the bare minimum for a company employee. Beyond that, you can show your workers how much you value their efforts by adding in perks and benefits that improve their life circumstances in real ways. Here are some ideas:
Wellness initiatives like gym memberships, massages, or complimentary food and drinks at work
Work-life balance benefits like generous PTO and sick and family leave, or allowances for time away for appointments or family obligations
Personal development opportunities like conferences or classes
Paid volunteer opportunities, either individual or as a company
Workspace personalization allowance for things like plants, standing desks or walking pads, and freedom for personal decor
Commuting assistance for public transportation or fuel stipends
Employee retention depends on people being valued for the complete person they bring to their work. Successful companies need more than just skills and labor. Acknowledging that value begins at the first contact. Subsequent interviews can demonstrate the culture a person is capable of bringing to your company.
ApplicantStack gives you a place to manage candidates, cataloging and keeping track of first impressions. You can get a sense of how a candidate will fit in and whether you think they could be happy in your business. An eye on retention may help you value these soft skills even more than the ones listed on the candidate’s résumé.
The term “ghosting” originated in the app-heavy world of online dating. Two people start communicating past the first inbox message. Then, one party disappears without a “sorry, but” message, never to be heard from again. In job seeking, ghosting refers to when either the candidate or the employer drops out of the interview process without explanation. Invitations go unread, interview appointments remain unconfirmed, and emails sit unopened.
Ghosting Is On the Rise
According to a survey conducted by Indeed in 2021, the shift in the employment market during the pandemic meant ghosting on either side became much more common. More than three-quarters of job seekers report being ghosted by an employer. On the other hand, 76 percent of employers in the same survey say they, too, have been ghosted. Statistics tell the story of a frustrating experience on both sides of the hiring process. Candidates ghosted by hiring managers can feel undervalued, discouraged, indignant, or angry. On the company side, it can feel equally discouraging and like a tremendous waste of resources. For small businesses in particular, growth can present huge challenges, and efficiency is crucial.
As a prospective employer, you can’t control every candidate’s behavior. But you can control how you internally manage the hiring process to reduce the risk of being ghosted. At its core, ghosting happens when one side gives up on the potential relationship. Here are some tips to reduce applicant ghosting.
3 Tips to Stop Applicants Ghosting You
Improve Engagement
This word may be mostly tied to social media in our minds. Engagement describes the ability to create content that keeps your viewer in front of their screen and ideally willing to comment, like, subscribe, click, or purchase. In the interview process, your content is the candidate’s experience at each step of the hiring process. Ask yourself:
Do our emails sound friendly and professional?
Do we encourage questions and appear open to follow-up communication?
Are meeting invitations sent in a timely fashion with clear instructions on how to use the tech?
Does the candidate know what to expect in an interview, e.g., who will be in attendance, how long it will last, whether it’s one of a series of interviews?
Sure, you’ll use some form emails to streamline the process. ApplicantStack can help keep you organized at each step of the way. But the content of the communication should sound authentic, open, friendly, and inviting. Candidates want to feel like their presence in the interview process is valued and worth the company’s time.
Maintain Transparency
Job seekers often describe being misled by postings. Job descriptions are couched in language that may not accurately describe the daily duties. You can imagine that while this tactic may have a high rate of inquiry, it has a low rate of follow-through. Honesty really is the best policy in job postings and follow-up communication. Just like you expect the candidate to tell the truth on their resume, transparency on the employer side establishes trust from the first interaction. Without trust, you are much more likely to be ghosted. You have to earn a candidate’s respect.
Along with accurate job descriptions, candidates want transparency in salary and benefits. Reporting by CNBC in November 2023 discovered that “beyond any material impact on wage levels, rising pay transparency has had the largest effect on how employees and employers behave during the job-seeking and hiring processes. Employers are using pay transparency to attract candidates who are actually willing to receive the pay that is listed—and discourage others from applying.” When you start with your cards on the table, the candidates you attract are less likely to ghost you later when the salary is revealed and it’s unattractive to them.
Offer Clarity
On each side of the hiring table, people are multi-tasking. Hiring managers have multiple candidates at varying stages of the interview process. Job seekers live in a state of inquiring with and waiting on multiple companies, often running on different time tables. It’s a process that can make your head spin without an excellent system of organization. For the hiring side, ApplicantStack gives you all the tools you need to keep track of each candidate at every stage in the process. As you adjust the tool to fit your company’s needs, consider re-evaluating the clarity of each message you send.
Does the candidate understand the steps of the submission, interview, and hiring process?
Do they know what stage they are in?
Do they know how to withdraw their name from consideration?
Do they know where to direct questions?
Do you give an estimated response time or update if that can’t be met?
Attentive hiring managers who give as much information as possible are the least likely to be ghosted. Online job boards are full of people asking “how do I tell a company I’m not interested anymore?” The answers vary widely, but that general advice may not apply to your company. Communicating your company’s preference can relieve a candidate’s anxiety on how to handle this potentially awkward situation that very commonly leads to ghosting.
Use Different Communication Methods
You may have trouble getting ahold of candidates via email, only to feel like you’ve been ghosted. But some people simply forget to manage their inboxes efficiently, leading to missed messages. ApplicantStack makes it easy to communicate with job seekers where they are—on their phones. Here’s an interesting statistic: 98 percent of texts are read within two minutes of receipt. By contrast, roughly 20 percent of emails get opened and read within that timeframe. When you consider the high risk of an email getting filtered and not seen at all, it’s clear that texting is the winner for communication.
You can never control another person’s behavior, but you can adjust your hiring practices to mitigate applicant ghosting. Using organizational tools backed by transparency and excellent communication can lead to positive hiring relationships. Learn more about the features built into ApplicantStack when you start your free (no strings attached) trial.
Recruitment has become more challenging in the recent past. Between the tight labor market, increased competition for top talent and an aging population, recruiters have faced new difficulties when trying to find and bring on new hires. Helping your company and open positions stand out is critical in remaining competitive and appealing to talented individuals. Explore our guide to video recruitment marketing and the benefits of utilizing video in the hiring process.
What is Video Recruitment Marketing?
Video recruitment marketing is a technique that utilizes video content to outline the hiring process, what it’s like to work for a company and what to expect. Since video is the most widely shared form of content, it’s worth investing in videos to support recruitment efforts.
Creating recruiting videos might involve outlining what the culture is like at the company, as well as emphasizing the benefits of working there. You could enlist the support of current employees, who can become brand ambassadors in their efforts to encourage others to join the team.
What are the Advantages of Video Recruitment?
Video recruitment efforts can bring a number of appealing advantages.
Say more in less time
Videos can say more in a shorter amount of time, as viewers can watch the content quickly rather than having to invest time in reading it. Research indicates that marketers have approximately eight seconds to grab someone’s attention. A video is more likely to achieve that aim than a piece of written content, as the visual movement coupled with engaging sound are attention-grabbing.
Tailor videos for each step of the recruiting funnel
When you tailor different videos to speak to every step of the recruitment process, jobseekers know what to expect. This information can provide valuable insights and keep applicants engaged. By contrast, if your company doesn’t issue any information regarding what to expect in terms of communication and feedback, jobseekers may lose interest or look elsewhere when they don’t hear from the hiring manager.
Utilize video where text and images don’t work
In areas where text and images simply don’t garner much attention, a video can be a game-changer. For example, more than 300 million people spend time on social media platforms daily, browsing and scrolling through feeds. They may not stop on a text-heavy post, but a video that begins playing before they stop scrolling could cause them to pause and watch. Videos shared by friends and contacts on social media are also more likely to get additional views.
Promote brand image
When you want to promote your brand image and look more established, professional video content can support these goals. With relevant, engaging and concise elements, your company can also stand out in a sea of organizations seeking top talent.
Where Can Recruitment Videos Work Best?
There are many different applications where recruitment videos can add a lot of value. These include:
On your career site: If your business has an established career site, incorporating video can appeal to those who come searching for open positions. This site is a good place to include video testimonials from current employees and content that emphasizes the culture.
In job postings: When applicants get to job listings, they should be able to get a sense of what to expect. Include video content in job postings that is easy to view without navigating away from the application page.
At job fairs and conferences: When participating in job fairs and hiring conferences, consider how you can help your business stand out by utilizing professional videos. Show them on a loop on a screen in your booth or provide a QR code that allows potential applicants to watch the videos instantly.
On social platforms: As mentioned, millions of people are on social media platforms at any given time. Expand your reach by sharing videos through your social networks and encourage employees to do the same.
On video advertising platforms: If you want to put money behind your recruitment videos, consider utilizing advertising platforms geared toward video content.
Throughout the hiring process: Share videos with applicants throughout the process to keep them informed and engaged.
Through employees: Ask happy and engaged employees to take part in the recruitment process by sharing videos with their friends and family. Internal referrals tend to have higher engagement and retention rates.
Examples of Effective Recruitment Videos
Need some inspiration? Check out a few effective recruitment videos:
Apple
This video is demonstrative of Apple’s culture, focused heavily on innovation and creativity. It showcases what the organization does and the value placed on diversity as employees speak various languages throughout.
Zappos
In the recent past, Zappos has adjusted its culture and management structure, replacing the traditional “boss-employee” hierarchy with self-management opportunities. The company’s documentary-inspired recruitment video emphasizes the importance of culture fit.
Starbucks
With more than 28,000 locations across the globe, the massive coffee chain is among the largest restaurants in the world. In this recruitment video, viewers get a sense of the welcoming, supportive environment where every team member is considered a partner.
Dropbox
This video features the perspective of colorful puppets, creating a quirky video that’s sure to stick in the minds of viewers. The humorous expressions on the puppet’s face also provide insights into the playful company culture.
Manage Your Candidates with ApplicantStack
As you consider how to incorporate video into your recruitment efforts, it’s worth thinking about how your business will manage the influx of candidates as they see your videos and apply for open roles. ApplicantStack is an excellent tool for businesses of all sizes, offering budget-friendly pricing and robust features.
Everyone involved in the hiring process can view candidate status, identify next steps and move top talent through various stages with ease. Keep everyone on the same page while keeping track of notes and recommendations in one place. Additionally, ApplicantStack makes it easy to text candidates. Since texts have a 200 percent higher response rate than emails, you can see the immediate value of this feature.
When you’re looking to bring on top talent, you may find yourself scanning resumés for specific skills. We’re outlining nine of the most in-demand skills to look for in 2024, including both hard and soft skills and how they differ.
What are Hard and Soft Skills?
Hard and soft skills are unique abilities that a candidate may possess, supporting their ability to perform the duties of a specific role. Hard skills are more technical in nature, often referring to specialized knowledge that someone brings to a role. By contrast, soft skills represent how an individual approaches their work and handles specific aspects of the workplace.
Why Do Skills Matter?
Hiring for skills is valuable for a variety of reasons. Today’s employers are often looking for applicants who can get started in their roles right away and make meaningful contributions. Specific skills can support these needs and help new hires feel comfortable in what they bring to open positions.
According to a recent Pulse article on LinkedIn, while education provides foundational knowledge, skills bring an individual’s knowledge to life. These practical tools allow people to apply what they learn to real-life scenarios, boosting their value in a professional setting. When you look for people with certain skills, you may find that they’re more successful even than those who have completed educational programs.
Top 4 Hard Skills to Seek in Candidates
Here are four of the most critical hard skills that can bring great value to your organization.
Analytics
As the world continues to be more and more driven by data, analytics skills are essential in the workplace. This hard skill allows for the interpretation of complex data, using that information to glean insights and make informed decisions that benefit the organization.
Sales
Whether your business sells a product or a service, it’s impossible to succeed without actually making sales. A skilled salesperson understands the core fundamentals of this role, which involve building and strengthening relationships to bring in customers. In a shifting economy, individuals with proven sales skills will stand out. The ability to leverage AI tools is an added bonus in today’s market.
Project management
Managing projects is a crucial element of keeping collaborators on track and achieving business goals. The ability to keep tasks organized and moving along is highly valuable in any workplace, and it’s a hard skill worth looking for in candidates who will be involved with projects.
Design
Many roles require design skills, and the ability to put together something that looks appealing while conveying essential information is highly useful. Designers typically understand color theory, typography, and print layout design, and bring skills in the Adobe Acrobat suite.
Top 5 Soft Skills to Look for in Applicants
When searching for top talent, look for these five soft skills.
Communication
The ability to communicate effectively is a necessary skill in today’s workplace. As many workplaces have shifted to remote or hybrid schedules, people need to be able to utilize different platforms to collaborate and stay in contact. Even in-person work requires ongoing communication to motivate and connect.
Leadership
Strong leaders are vital to the growth and success of any business. From supervisors of entry-level individuals to c-level company leaders, those who lead others must have strong skills to motivate and inspire their teams.
Customer service
Although some of the aspects of serving customers can be automated, others should be left firmly in the hands of real people. The ability to cultivate relationships, listen carefully and build trust are among the soft skills of customer service that can’t be outsourced to an AI platform. Look for people who have these skills to fill roles that include customer interaction.
Teamwork
Working as a team may look different than it once did, especially if your workplace has gone remote or hybrid. But even in the face of friction or unique challenges, the ability to collaborate with and support team members is highly useful. Teams that are able to work together remain better aligned, driving results.
Problem-solving
As business leaders and employees encounter new challenges, potentially brought on by shifts in the industry or adjustments to the way they perform their duties, they need to be able to resolve them effectively. Problem-solving skills involve applying strategic and critical thinking, helping each team member to thrive.
Use ApplicantStack to Filter and Manage Candidates
There are few things more frustrating than a tepid response to a newly-posted job description. The time that goes into identifying a need, writing the description, and posting is an investment in the future, and you need quality results. For small business owners especially, that time can be very precious and scarce.
Could it be that a lackluster job description is to blame for an inadequate candidate pool? We’ll consider some ways to improve job descriptions to attract ideal candidates for your open positions.
Common Mistakes in Writing Job Descriptions
Here are a few of the most common mistakes made when writing job descriptions.
Using clichés and jargon. People seeking employment could fill a bingo card with words or phrases in job hunting that have essentially lost meaning. Self-starter. Team player. Rockstar. Paradigm shift. Thinking outside the box. At best, they’re lazy; at worst, they’re intentional choices to obscure facts. It’s worth your time to eliminate the cliché words and phrases altogether.
Absent salary figures. The conventional wisdom that salary can be disclosed later in the hiring process no longer serves the contemporary job seeker. In fact, some states have laws requiring salary transparency in job descriptions. Including these figures shows you’re serious about pay equity and transparency. It inspires confidence in prospective employees that discussions about compensation are not off-limits now or ever.
Recycling old content. The job market is ever-changing. Most companies can define themselves pre- and post-pandemic in dramatic ways. What worked for hiring in one period may be almost irrelevant now, and taking the time to critically edit and revise job descriptions can make a huge difference in the quality of your inquiries. Even if the job you’re hiring for demands a lot of the same responsibilities and qualifications as the last time you posted it, the changing job market means cut and paste may not get you the candidates you’re seeking.
Vague or misleading phrases. Similar to using clichés and jargon, job seekers may be put off by vague or umbrella terms that don’t accurately describe the work. For example, if you’re hiring for call center representatives, it’s misleading to use the term “marketing associate.” Fielding applicants who drop out after they learn the actual responsibilities of the job is a waste of everyone’s time.
Presenting all requirements as equally important. Jobseekers run the gamut of overconfident to underconfident. An ideal job description offers both a reality check and encouragement by ranking requirements or specifying non-negotiables. This information provides meaningful clarity for candidates with a wide variety of education and experience.
Stop the Search With the First Sentence
The first sentence is the hook for the reader. Jobseekers will use this early information to determine whether the position aligns with their abilities, as well as if it’s something they want to do. They will also consider their goals and interests when assessing the first part of the description.
If your job title is “Marketing Specialist” consider the following two descriptions:
“We’re a tech startup growing faster than the speed of light with fresh and innovative ideas for the marketplace, and we need a marketing team to match. We’re looking for a social media rockstar who can hit the ground running on day one.”
or
“For 5 years, our company has seen consistent growth in the domestic application space, including apps for grocery shopping, household chores, and childcare reminders. We’re growing our marketing team in areas of social media, AI, content writing, and advertising. This role falls under the content writing umbrella but would involve collaboration with advertising and social media.”
The quick-talking cliché language of the first doesn’t offer any specifics and may be seen as an oversell without realistic expectations. It might also scare off someone who expects structured onboarding and on-the-job training. The second one briefly explains the company’s products and expands on the marketing specialist term to explain specific responsibilities.
Job seekers will almost always look at websites and social media to better understand what a company does, but this method gives candidates a snapshot into the market you occupy. Someone interested in app development around home organization knows right away that they could be a good fit.
More Quick Tips to Spice Up Your Job Descriptions
Need some more help? Here are some additional tips.
Use specific language. As discussed, clichés and jargon are easy to skim or bypass altogether. Take a hard look at your job description and look for anywhere you’ve used vague words. Explain job responsibilities with clear and specific language. “Travel required typically two weeks per month” instead of “exciting travel opportunities” gives a candidate something realistic to consider.
Incorporate inclusive language. Highlight equity and inclusion initiatives. Use gender-neutral language where applicable and be sure nothing in your description implies favoritism for one group over another.
Be honest about perks and benefits. Don’t try to oversell perks and benefits, especially if they’re not accessible to every worker. On the other hand, candidates can be excited by useful information about a great health plan, office lunches, gym memberships, PTO, and other perks that contribute to your company culture.
Use recognizable titles. The description is where to get creative and specific; prospective employees will search for the title they best recognize in themselves, or one they are seeking. Consider an SEO analysis to make sure you’re appearing wherever job searches are happening.
Be specific about location. One of the first details any candidate will want to know is whether the job is remote or in-person. Make your expectations about daily work, any in-person meeting requirements, and available hours (including time zone) very clear.
Good job descriptions aren’t just for hiring. They support accountability for the company to create a job contract and give the candidate something concrete to refer to during negotiations.Giving your job postings a critical once-over can bring the best possible candidates knocking at your door.
ApplicantStack is a perfect tool to help file away past job descriptions and call them up when the need arises. You can also utilize templates when you need a little extra help, and ensure your listings show up on the top sites and job boards. Try it for free today.
The average tenure of an employee aged 25 to 34 years is only 2.8 years, according to the most recently available stats from the Bureau of Labor Statistics. That’s a pretty quick turnaround that ends up costing organizations money in recruiting expenses, onboarding, training and more.
So, how can businesses improve employee retention and encourage qualified candidates to stick around longer? From the job listing itself to the onboarding process and developing a strong company culture, these strategies can help you achieve success.
What Is Employee Retention and How Is It Calculated?
Employee retention refers to the ability of an organization to keep its employees engaged and satisfied. When retention is high, turnover rates decline—which should be the goal for most organizations. When retention is low, it can cost your organization a lot of money.
According to the Society for Human Resources Management (SHRM), the average cost per hire is nearly $4,700. Some estimates claim that the total cost of hiring a new employee can be three to four times the salary for the position being recruited. Expenses related to high turnover include not only recruitment costs but lost productivity and disruptions in workflow as well, which is why developing and implementing strategies for better retention can be so valuable.
How To Calculate Average Employee Retention
Calculating employee retention involves measuring the percentage of employees who remain with the company over a certain period, usually annually.
Here’s a simple formula to calculate your employee retention rate:
Employee retention rate = (number of employees at the end of the period – number of employees who left during that period/number of employees at the start of the period) x 100
To break it down further, here’s an example:
Start by determining the number of employees at the beginning of the year. Let’s say the company had 200 employees on Jan. 1, 2023.
Next, determine the number of employees at the end of the year. For example, the company had 180 employees on Dec. 31, 2023.
Calculate the number of employees who left during the year. This is the difference between the number of employees at the beginning of the year and the number of employees at the end of the year. In this case, it would be 200 – 180) = 20
Now, calculate the retention rate using the formula presented above: Retention Rate = ((180 – 20) / 200) * 100
= (160 / 200) * 100
= 0.8 * 100 = 80%
In this hypothetical scenario, the retention rate is 80 percent.
Top Reasons for Employee Turnover
High turnover is seldom a mystery. In fact, employees are pretty good at indicating why they have left or are planning to leave their organizations—and the reasons vary.
According to SHRM, a few of the most prevalent reasons that lead to higher turnover include:
Compensation.
Unsustainable work expectations.
Uninspiring or uncaring leaders.
5 Employee Retention Strategies To Boost Employee Engagement
Having poor retention doesn’t mean your company is doomed. In fact, there are effective ways to help boost your retention rate, most of which involve improving your organization’s offerings and enhancing the employee experience.
1. Offer Competitive Compensation and Benefits
To prevent high employee turnover, it’s important to provide competitive compensation and benefits packages, which are critical to prospective employees. A Forbes study revealed that as many as 40 percent of employers believe their employees have left their jobs to find employment that offers better benefits. According to the same study, only slightly more than half of employees are happy with the perks offered by their current employer.
So, the first part of a successful employee retention strategy is to ensure that employees are being paid fair wages for their work and solid benefits that can support them and their families’ well-being.
2. Offer Career Development Opportunities
Employees don’t want to feel stuck in their roles; they want something to work toward. According to research conducted in 2023, 75 percent of surveyed employees either agreed or strongly agreed that career development was a priority over the past year.
Here are a few ways employers can support employees in their mission to develop as professionals:
Offer ongoing training
Create a mentorship program
Provide more frequent feedback on performance
3. Provide Employee Recognition and Rewards for Jobs Well Done
Acknowledgment goes a long way in the workplace. A recent study by Gallup revealed a correlation between employee recognition and employee outcomes—including a 22 percent reduction in absenteeism, which can eventually lead to turnover.
To facilitate productivity and employee satisfaction, employers should reward employees for their contributions and achievements to their teams and to the wider company. This is done through formal recognition programs, performance-based bonuses or even simple gestures of appreciation like thank-you notes or public praise.
4. Enable a Healthy Work-Life Balance
It isn’t surprising that nearly everyone considers a healthy work-life balance to be important (94 percent), according to a 2023 Randstad survey. But what exactly does that mean today? In the same survey, 82.9 percent and 71 percent of global respondents consider flexible working hours and work locations to be essential, respectively.
Meeting employee expectations, like flexibility and aligning on value—and prioritizing people—will ensure that you’re set up for success in terms of increasing retention.
5. Streamline the Hiring Process
Creating a positive candidate experience directly impacts the employee experience and your retention rate, and it starts with the job listing. According to a Robert Half survey, more than half of qualified candidates lose interest in a position if the role responsibilities are unclear. So, first things first, job postings need to be accurate, updated and attractive.
Tools to help amplify listings; screen, select and interview candidates and onboard newcomers are invaluable. From posting to onboarding, the recruiting process should be informative, engaging and optimized to ensure the best possible results.
Streamlining the Hiring Process With Applicantstack
A company culture that touts values in alignment with employees and puts people first is a recipe for retention success.
Applicantstack optimizes all aspects of recruiting and talent screening to offer businesses and candidates a satisfying, streamlined experience for more engagement, increased productivity and heightened retention. To see firsthand how Applicantstack can help streamline your recruiting and hiring, candidate management and onboarding for a better candidate experience, start for free today.
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