Talent retention vital for company growth

It’s no big secret that on average, companies lose three times the salary of a new hire that doesn’t stay with the organization. The cost of losing an employee actually starts long before the individual leaves. It’s the cost associated with disengagement when passion and energy are no longer invested in the workplace. The bottom line is that, while economic realities do play a role, if total compensation satisfies one’s requirements, an employee is not likely to leave for this reason alone. The leader makes the difference.

You’ve probably heard it before but “people don't leave companies they leave managers." Of course, there is much truth to this - nobody wants to work for an uncaring, difficult manager. However, this is not the only reason people decide to leave companies.

Job fit:
During the hiring process, it’s important that employers should focus their efforts on acquiring candidates who are not just skilled for the position but are also a strong cultural fit for the company. Think about the difference in an employee's life, if they worked in a job that utilized their talents to the fullest capacity. If your company is able to employ workers that are interested and engaged, you are developing new talents for long-term potential. This will drive the company’s success. 

Career opportunities:
In many organizations, career opportunities are driven by hierarchy. Although this is important to grow leaders for the future, it also means that an opportunity is overlooked to tap into the hidden skills, passion, and interests of your workforce. Very few organization invests as much in their internal career management platforms and practices as it does in external recruitment. 

Work Environment:
New-age corporate culture is reshaping ordinary offices and companies are forced to take a closer look at the work environment. The "non-compensation" and "non-job" factors are bigger than ever. People want to enjoy their work but also be able to balance their home life. Allowing flexible starting times, core business hours, and flexible ending times are just some ways to create a positive work environment for all.

Not all turnover is bad; new blood is healthy, and new employees can bring fresh ideas to their companies. But losing a valuable employee costs a business in time, money, and stress to other employees.

Are you looking for new talent to add to your team or need to replace a team member? We can assist. Communicate Recruitment is a specialist recruitment agency, with the very best recruiters. We specialize in the sourcing of top candidates in the Finance, IT, Engineering, and Supply Chain/Freight industries, both for permanent and contracting placements throughout South Africa, and the African continent.

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