Originally published in CEOWORLD Magazine.
In today’s job market, companies find themselves fighting over the same top talent for similar jobs. Jens Erik Gould, CEO of Amalga Group, says this has forced businesses to find new ways to both recruit solid employees and retain the ones they already have. With employees perhaps more willing than ever to leave their current job for a new one, figuring out new ways to increase retention rates is vital to long-term success.
“In this post-Great Resignation world, retention is more critical than ever to long-term business success,” says Jens Erik Gould. “From lower operational costs, to increased productivity, innovation and employee and customer satisfaction, there is almost no limit to how businesses can benefit from keeping their top talent.”
One of the most effective ways to retain employees is to increase employee engagement. Below are some tips for how you can do that.
If you want to keep employees around for the long term, you must show them that you value their growth. You can’t treat them as if they’re expendable. You need to help them build a career and recognize that upward mobility is achievable within your company. No one wants to work in a dead-end job. When workers realize they’re in such a situation, they become more likely to leave for a job that can provide them growth opportunities.
According to Jens Erik Gould, companies need to create a clear career path for employees with achievable short- and medium-term steps, working directly with them and incorporating their feedback and input on the plan along the way. Then, they should offer education and training for the specific skills and knowledge they need for the growth plan.
The employer-employee relationship is more human-centric than it is mechanical. Employees want a well-rounded experience when they go to work, and that includes making connections with both colleagues and managers. Jens Erik Gould says that a great way to engage employees is to ensure leaders are empathetic.
Rather than being robotic and caring only about their own needs, leaders should take a keen interest in who their employees are and what makes them tick. Studies have shown that employees who feel a connection with their higher-ups are far more likely to give their full effort because they feel valued.
This ultimately leads to many positives for the company, including higher output and productivity and, in turn, better retention rates.
Another great way to engage with employees and show them you care is by providing them consistent feedback. Workers want to know if they’re doing a good job and be told how they can improve.
“When you provide your employees with consistent feedback, you are showing them both directly and indirectly that you recognize the work they are doing and care about their growth,” says Jens Erik Gould. “By doing this, you are displaying empathy and taking a keen interest in their success.”
There are several ways you can gather and provide feedback, including by conducting anonymous surveys and regularly scheduled meetings and assessments. It’s also important to have an open-door policy and encourage employees to come to you with any questions, comments, or concerns they might have.
This is an essential part of feedback that must not be overlooked.
Jens Erik Gould is the Founder & CEO of Amalga Group, a Texas-based nearshore outsourcing company specializing in providing highly qualified talent in IT, software engineering, and contact centers. Previously, Gould spent over a decade reporting on topics such as business, politics, and energy in the United States and Latin America for esteemed media outlets like Bloomberg News, The New York Times, and TIME Magazine.