Employers used to have the upper hand when it came to hiring. But, with unemployment at a record low, there are now more job openings than candidates to fill them. And with employees job-hopping every few years (or not showing up at all), it’s now more important than ever for HR teams to have a strategy for every stage of the employee lifecycle.
When it comes to building a great team, finding top talent is only half the battle. Retaining that talent, whether it’s your entry-level employees or senior management, is extremely important, as high employee turnover is costly and disruptive to other team members. In addition to offering competitive pay and a great culture, making your employees feel valued in the workplace is an important part of retention. However, it can be easy to overlook this for your entry-level employees.
We all know that bringing all-star talent through the door is hard enough. Even more challenging? Maintaining a pulse on who’s engaged and who might be looking for greener pastures.
Don’t get caught off guard. Thankfully for HR teams, there are a few telltale warning signs that your top employees are looking for a new job. Once you spot these, it’s time to act fast. Below, we’ll dive into the warning signs and what your team can do to retain employees before it’s too late.
Compensation requests affect HR professionals at more than just an administrative level—it’s one of the most common times employees rely on HR for guidance. Not only does HR often cut the checks, but employees may also come to you for help navigating tough career conversations with their managers. And when was the last time you had a raise yourself? Whether you’re advising employees, or considering your own career advancement, it’s always good to know how to advocate for a pay increase.
In the last couple of years, a new wave of digital disruption swept through businesses in nearly every industry. In 2017, Amazon opened its first supermarket without salespeople in Seattle. McDonald’s decided to replace all of its cashiers with self-serve kiosks, and Caterpillar now invests in driverless tractors.
What if all of your employees changed or left their roles every two years, no matter what? It’s something a San Francisco-based startup called Jolt has been trying out for the past year, and it sounds...interesting. And I don’t mean “interesting” like “pretty weird, but I should use a more polite adjective”; I genuinely mean interesting. The experiment could be great—or not, but for now: I’m intrigued.
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As companies everywhere continue their quest to become lasting brands, there’s more and more evidence that those performing best financially also perform extremely well when it comes to company culture. A recent study by the Boston Consulting Group reveals that leadership and talent management performance strongly correlate to financial performance. Companies that rank highest on 20 leadership and talent management capabilities increase revenue 2.2 times faster than companies lagging on those capabilities. And guess what one of the six talent management capabilities is? Culture.