Employee Retention Strategies

Retaining talented employees has become a major challenge for many organizations in recent times as a result of the fact that recent graduates on the average would apply to a large number of companies in order to increase their chances in the job market. This has led to employees abandoning their jobs for a better offer elsewhere after the company has incurred costs in training them.
No one is exempted from this challenge. Due to the competitive nature of today’s job market, it has become imperative for most organizations to devise strategies not only to attract but to retain Fresh Hires within the Company. To this end I have come up with these suggestions which I believe will help to prevent loss of talented employees as well as funds incurred in the process of acquiring and training them.

· Clearly Defined growth potential

People between the ages of 18 -30 are mostly motivated by growth potentials offered by their prospective employer. As such, the two key factors that will keep them on the job are financial reward and career potential within the company. At the initial stage, owing to the fact that they are just coming out of school, many talented graduates will settle for the first offer that come their way, but will keep looking for employment opportunities elsewhere if they feel that the company does not have much to offer them in terms of promotion and increase in earnings.

My recommendation would be that they are offered a clearly defined path for growth, both in career and earnings as they grow within the company. They could also be presented opportunities for personal development by recommending star performers for off-the-job training programmes designed to improve their skills and competence.
It is important to establish clearly stated methods of reward for exceptional performers and punishment for substandard performance. Awards and recognitions play a major role in employee motivation as it gives them a sense of belonging and makes them want to give their very best.
These will ensure that their jobs and financial future are secure and will check the threat of being poached away by companies with big names and long term reputation.

· Talent and Skill Utilization

Financial rewards aside, most talented people will prefer to work in a place where they know that their talent and skills will be put to optimal use. Financial rewards may keep them engaged for the first few years of their professional career but eventually they would settle for a work condition that allows them to do what they are passionate about.


As such, at the point of entry, it is important to match not only their educational qualifications but also skills, personality and talents to specific job roles within the organization. If they are happy doing what the company pays them to do, they would not feel that they are working for money. It would therefore take much more than a bigger salary package to poach them away from the company.

It is also crucial to put in place a framework that would enable employees to give their very best to the company. Such framework could include:

1. Freedom to speak freely to the appropriate authority regarding any issue that is bothering them within the work environment. This will enable the organization to prevent issues that could result in high employee turnover.
2. Clarity about what is expected of them: their Key Performance Indices should be explicitly defined as soon as they assume duty.
3. Quality supervision provided by their respective supervisors. This could include giving constructive criticisms when necessary.
4. Freedom to provide constructive feedback.
5. Recognition and respect for Trainees at all times.
6. A work condition that encourage employees to share ideas, complaints and contributions.
7. Opportunities for new Hires to regularly mingle with experienced staff in forums that encourage them to share knowledge and ideas e.g. training sessions, team activities, and presentations.
· Employee Mentorship Program

People leave supervisors and managers more often than they leave companies. As such, it is important to put in place an employee mentorship program that will facilitate a mutually beneficial working relationship between new employees and older members of staff within the company. A mentorship program will enable experienced staff to share their experience and knowledge with the younger ones. A mentorship program will give the junior staff a friendly resource where they can benefit from the coaching, guidance and encouragement the mentor will provide. It will give the them a sense of belonging, commitment and loyalty as it brings them closer to the organization. The mentorship program will also foster a better relationship among members of staff as the old ones will have the opportunity to cultivate new work relationships.

· Work – Life Balance

A work environment that allows people to spend quality time with their friends and family will motivate new Hires to stay with the company as employees. People also love to work in an environment where they can have fun occasionally.

To this end, I would recommend:
1. Strict adherence to stipulated work hours so that they can be properly rested and refreshed for the following work day.
2. Adherence to office traditions such as TGIF and birthday celebrations.


To your Success!