Effective employee retention strategies

Jan 25, 2022

Effective employee retention strategies

A significant area of focus in recruitment is finding and securing the best talent. However, retaining your top talent is just as important. 

Having a successful retention strategy in place can be a key differentiator for your business. And, in today’s candidate market, it can be one of the main reasons you keep your top talent and avoid a high staff turnover. 

Over the past 12-18 months, businesses have been working hard to retain their most valuable employees to avoid the growing skills shortage and leap to full-time remote working that many are currently facing. 

As we move into 2022, the threat of a skills shortage does continue, making fire and security recruitment more challenging than ever before. (Click here for more information on recruitment trends you can expect to see in the next 12 months). 

Competition between individuals for fire and security vacancies as well as between businesses in securing the best talent is fierce, making retaining your employees and providing development and growth opportunities an essential part of your business. 

Of course, we’re not saying to let your foot off the pedal when it comes to finding and recruiting new talent, but instead shifting your focus slightly toward a robust retention strategy that looks to slow down those who are potentially looking to leave. 

Building retention into your overall recruitment strategy is key. Creating and promoting the right culture, competitive salaries, flexible working options, vision, aligned values, and more. 

Businesses now must position themselves as a great place to work. A place that can offer it all.

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Effective employee retention strategies 

Understand your employee retention rate 

Understanding your employee retention rate from the start can help you to build a more robust retention strategy for your recruitment processes. 

Employee retention means the number you reach when you divide the number of employees that have stayed with the company from the beginning by the number of employees the company started with.  

From here, you can then clearly determine how to approach each stage of your recruitment strategy to include retention techniques. For example, what elements of your company culture do you want to highlight through your screening process, interview selection, etc. You can then look for these qualities in candidates by highlighting your company culture at these stages, creating a strong alignment and commitment between both parties. 

Those aligned with your company’s vision and values will tend to stay in their job role for longer.

When recruiting, look out for the “who will stay.”  

Make sure to look closely at candidates’ CVs, paying particular attention to how long they have stayed in their previous employment. For example, did they stay through the ups and downs? Do they show loyalty, engagement, perseverance? 

Does the potential candidate play team sports, volunteer, or participate in other activities outside of work?

This information shows commitment and dedication to others. On the other hand, someone who has had several different jobs over a short period of time might be a gamble. Of course, they might not have found their dream job just yet, but it can also be challenging to retain.

Provide relevant training and career progression opportunities 

Upskilling and promoting internally helps employees feel valued and can play a crucial part in a company’s success; however, you need to provide the tools necessary to progress and advance. 

Reports show that 80% of millennials and Gen Z’s would leave a company that didn’t offer the right development opportunities. Hence lifelong learning must be part of your culture, showing an investment into your employees’ worth. 

Upskilling can also help fill any skills gaps you may be experiencing and can be a powerful reason why people stay.

Offer greater flexibility 

Due to the pandemic’s effects, we’ve become accustomed to a very different way of working, and continuing to provide a high level of flexibility will be key to effective employee retention. 

Increasing employee satisfaction by offering more flexibility in working patterns affords you a competitive edge over your competitors and can bring the top talent to you much more easily. 

Promote a good benefits package 

To retain the best employees, you need to reward them well. Loyal workers expect to be rewarded for staying. This means you must regularly review pay scales to ensure they remain competitive. 

However, pay is only part of the package. You also need to consider other perks, work environment, career opportunities, and more. 

Increase employee engagement 

Ensure you connect with your employees, regularly updating them on company news and developments. And listen to any concerns or issues raised. 

Gain greater insight into your employees by asking questions, showing empathy, and understanding.  

Carry out regular one-to-ones, check in on current projects, ask what skills employees would like to develop, etc. 

Providing regular feedback can also be the most valuable aspect at a manager’s disposal. 

Ensure to recognise people’s efforts with clear objectives and metrics so employees can also monitor their own performance and growth. 

By implementing user-centred approaches to your recruitment and retention strategy, you will see an increase in growth as you continue to engage with your top talent. 

For all of the latest fire and security jobs and support with your recruitment strategies, speak to the team at Secure and Recruit today on 01480 275 700 or email info@secureandrecruit.co.uk; we’d be happy to help.

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Reference video: HR Party of One