The Website and Blog of HR Author and Speaker Lori Kleiman

Retention is a lot easier than recruiting!

enter exit

Recruiting is often considered to be a key function of both HR and Management. But wouldn’t it make sense if we put the focus on retention of top talent? Yes, some employees need to go – and for those positions it is critical that your recruiting skills find you a great replacement. The key is to make sure that you keep the employees that drive your business forward.

According to a study by Jobvite – 71% of the US labor force is on in the job market.  Of those – 51% are actively employed. Which means that it is possible that up to half of your current workforce is currently looking for a new position.  You can see these, and more statistics, by reviewing the full study here.

The first key to retention is to understand your turnover. Track the employees that are leaving and be honest about the reason they left. Is there a pattern relating to a certain period of time with your company, or maybe a particular department? One solution may not fit all, and to find the right solution you need the data to tell you where to start. A past blog post on HR Topics addresses the value of conducing exit interviews to get this information – and act on it!

Forbes had a short article on retention that gives excellent strategies to consider. As the economy continues to improve, we will see employees looking for opportunities.  They often prefer to consider opportunities within their current employer, but if those are not crystal clear they will not think twice of looking elsewhere! Have open and honest conversations about what they feel is missing from your organization and what would make them consider another job offer. The answer will not be salary as often as you may think. Feeling like a valued part of the team that is contributing to business success is often what employees are looking for today.

Hold your management team accountable for the turnover rate. At their annual review, consider having your managers justify each separation of their direct reports and why they couldn’t retain them. If they say and employee is better off gone – ask the question of why the manager didn’t terminate before the employee quit. At the end of the day, we find most turnover is for reasons that the first time manager should have been aware of.

Recruiting is still an essential function of every organization. Excellent recruiting can ensure low turnover and a highly engaged team. Once that effort is put into the process, ensure the time is well spent by focusing on retention of top talent as a long term recipe for success.

Photo by Mac used under the following license.

1 Comment
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As the Master of Ceremony, Lori did a wonderful job engaging the crowd at our Light The Night Walk Kickoff event. She was responsible for talking about the event, as well as introducing each of our speakers and video content for the evening. She is personable and her enthusiasm is contagious.
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