For HR managers and company decision makers, acquiring top talent is a top priority. At the same time, equal importance should be placed on retaining these same employees.
That’s because according to the Bureau of Labor Statistics, the average person has 12 jobs throughout their lifetime. Although many business leaders believe that payroll is responsible for the high turnover rate, they are oftentimes surprised to learn that salary alone is not the most important piece of the puzzle. At PuzzleHR, we understand the importance of people firsthand. Whether you’re seeking to recruit high-performing employees or retain the talent you currently have, here are some of the most effective ways to nurture a company culture that talented employees will want to be a part of.
Aligning Your Core Values
All too often, company core values are referred to as a “check in the box.” In turn, they seldom receive attention after the onboarding process. Although most leaders would prefer having employees who embody principles like integrity, attention-to-detail, and teamwork, they forego fostering a culture that reflects these values.
To change the dynamic, we recommend inspiring high-level management to lead by example. Here’s a three-step approach to implement change:
- Take an in-depth look at your current company core values, identifying any differences between what matters most and what your current values actually are.
- Hold a round table with executives and managers to gather feedback, agree on changes, and uphold each value.
- Seek out ways to integrate and remind employees of your core values at company meetings, events, and daily operations – cultural change is a process and requires consistency, buy-in, and action.
With core values in place, organizations promote an atmosphere centered on consistency. This not only encourages the right type of employee to join your organization, but also increases the likelihood that employees with the same core values will stay.
Evaluating Managers
According to Gallup, upwards of 75% of turnover is influenced by managers alone. As direct supervisors, these individuals are in a key position to influence the bulk of your workforce. Without managers that reflect your core values, inspire creativity, and keep team members engaged, you may be fighting an uphill battle. Our recommendation is to take a second look at your managers and ask the following questions:
- How can you train existing managers to help grow and nurture up-and-coming talent?
- Are you holding onto any managers who may not be a good fit within your organization?
- Do entry-level employees have a way to provide feedback regarding their manager?
By asking these questions, organizations can ensure that their managers are promoting a positive company culture. That keeps high-performers motivated to come to work and perform at their best.
Listen to Feedback
Even the highest performing offices and organizations have some degree of office politics. Everyone wants to be heard. But some company cultures may inhibit their employees from speaking out in a productive way. Although many internal problems could be voiced and remedied on a low level, they are oftentimes ignored and escalated to high level management or, worse yet, the public.
Solve issues before they damage your reputation. Implement methods that enable your employees to be heard in-house. For some of the best ways to accomplish this, consider watching our PuzzleHR webinar, Social Media and Politics in the Office.
By giving team members the opportunity to be heard, you show them that their opinion matters and increase their stake in the company. In turn, you are in a better position to maintain talented individuals who feel valued within your organization.
Closing Remarks
By assessing your company culture, seeking out actionable improvements, and ensuring that your team members align with your core values, you can find and keep the right people within your organization.
For key insights regarding talent acquisition, we highly recommend watching our webinar, Talent Acquisition: Trends and Strategies in Challenging Times.
We wish you the best of luck as you continue to improve your organization. Feel free to contact us to find out how the experts at PuzzleHR can help you solve the Talent puzzle. Thank you for reading, and stay tuned for future updates!
