In times of dynamism and immediacy, there are more and more employees who after 2 or 3 years (if they arrive) in the same company, seek new professional directions. The drawback is that these type of profiles, restless and nonconformist, are usually the employees who go the extra mile and leave a positive mark on the places through which they pass.
It is well known that flight of talent is a problem that affects all types of companies, but for a start-up it could be even more harmful. The recruiting process to replace talent who leave has consequences for several months – the searching, interviewing and hiring of new talent and afterwards the time required for them to adapt to the role and the company’s culture.
It is for this reason that it becomes necessary to add to your agenda and budget serious talent retention policies even though you’re starting your business. For example (and without making comparisons) being part of Google is more than a job, it is a whole personal experience: their employees can devote 20% of their time to projects of their own interest, they can work from home, have flexible hours, are given continuous training, and they can even buy shares to participate in the growth of the firm.
The first and the most important thing to know is that taking measures to retain talent is not easy. In the first place because it is subjective - actions directed at the entire workforce are not efficient, but in general terms it seems to be differentiated by sex and by age range.
According to a survey carried out in 2016, what women value most is the reconciliation between work and family life, followed by a good climate within the office and the flexible organization of work. Comparatively, Men give priority to the use of state-of-the-art technology, the financial prosperity of the company and the possibility of pursuing an international career.
Contrary to any prediction, the salary, only appears within the top 3 for people over 40 years and the same for job stability. What Millenials value the most is diversity, training and international opportunities.
As it is not easy, and you might be struggling with it, here are some easy to implement starting points:
- Personalise incentives
- Offer opportunities for training and professional growth within the company
- Adapt the position to the employee, not the other way around. How does that person stand out?
- Provide wide and appropriate resources so that they can develop their work properly
- Develop an Employer Branding strategy. Rather than retain them, try to attract them
- Communicate. Create a culture of trust and transparency that inspires loyalty
- Allow them to reconcile their professional life with their personal life
- At the end of the month, schedule a meeting with all your employees, tell them how well the month went, and highlight the professional and personal achievements that your employees have made
Written by Victoria Furlan