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What makes a team great?  

Of course, it’s about recruiting the best players, to begin with. But equally, if not more important, is the ability to hold on to top talent. This has never been more crucial than in today’s candidate-driven market, with national unemployment at just 3.5 percent. If your superstars aren’t completely satisfied on your roster, you can be sure your competition is right around the next bend, waiting to scoop them up.  

Fluff is Not Enough  

In recent years, much has been broadcast about companies using innovative, fun perks to help build their brand and keep their best employees on board. And it’s not a bad idea. It’s just not enough. Ping pong tables in the break room, yoga balls instead of desk chairs, jeans on Fridays … all awesome, but only if they represent the icing on a robust, sustainable employee experience and healthy culture cake.  

  • People don’t stay for the perks. They stay because they feel they are part of something larger than themselves. All the free lunches in the world can’t replace this feeling of connection and ownership.  

The Bottom Line  

The bottom line in retaining great talent comes down to a number of key factors and strategies. And they’re all directly related to your company’s bottom line – as losing good employees can be devastatingly expensive. You’ve probably read the statistics. There are many studies related to the cost of turnover, but it generally averages out to the equivalent of a person’s annual salary, or more.  

What can you offer your employees in order to keep your retention rate at a healthy high? Start with:  

  • Growth opportunities: According to a recent LinkedIn study, 94 percent of employees would stay at their companies longer if they felt their employers were truly invested in their careers. Offer ongoing coaching, mentoring, learning, and development opportunities.  
  • Flexibility: Among the top benefits employees would change jobs for, as noted in a recent Gallup poll, flexibility ranked high. Being able to pace their workflow and balance it with family and other personal responsibilities naturally leads people to be more loyal and committed.  
  • Communication: Keep people informed of business decisions and strategic direction – and how it all ties in with their day-to-day responsibilities. Let them know their opinions matter, and their views are being taken into account. Listen actively, especially when it comes to key issues such as expectations, earning potential, and performance.  
  • Recognition: It’s human nature to want to be appreciated. Recognize employees and reward them appropriately when they solve problems, hit targets, or pass milestones in their career. Rewards don’t have to be expensive, but they do have to be meaningful. Get to know your team members as the unique individuals they are. This way, when you present them with their recognition award, it will be the right one.  

Partner with Search Wizards! 

To attract and retain the best talent for your recruiting team, consider partnering with Search Wizards. Talent acquisition isn’t just part of our menu of services; it’s all we do – and we’ve done it successfully for more than 15 years.  Contact us today to discuss how we can help you hire and hold onto the best recruiters and sources in the business.