Attracting And Retaining Staff Essay

1104 Words 5 Pages
Attracting and Retaining Staff

A critical factor to the success of any company is its ability to attract top talent while retaining those already working within the company. Losing employees can have a significant impact on a company’s morale, productivity and overall profit.
Whether it be evidenced through expenditures in agency or search firms, lowered productivity or morale, high turnover costs your company. In fact, each time one of your employees walks out your door for the last time, it can cost your company anywhere from $25,000 for entry level positions, up to $250,000 for a senior level positions.
Understanding the reasons people leave is the first real step in addressing the issues of retention and attraction. Once you have
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Mentor and coach high performers.
• Maintain your credibility by ensuring consistently that there is no gap between what you say and what you do. Its called the “Keep Your Promises” law!
• Measure and manage the “soft” skills as well as the hard skills. In addition to rewarding output, profit, and sales etc., provide recognition and reward for ‘how’ the work gets done, the people skills that contribute to a better climate and greater satisfaction.
• Fight turnover with good training, targeted to specific issues and individual needs. Beware of off-the-shelf training programs that promise the world and deliver little.
• Weed out poor managers. Dissatisfied workers dislike poor management. Act quickly to preserve your credibility in the workforce. Remember the law of procrastination. “No matter how long you ignore a problem employee, his or her behaviour will not improve-act now!”
• Address issues of poor performance. Other workers resent having to carry someone who cannot or will not pull their own weight.
In addition, be sure to provide inspirational vision and strong values, meaningful and challenging work, offer career opportunities, create an environment that enables people to do their best work, offer tangible rewards in both monetary and non-monetary ways and ensure work/life balance and support its importance.
Finally, remember that attracting and keeping the right people happens not as a result of strategy – but
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