Employers must adopt a multifaceted approach to retain and re-attract top talent. As it is, at least 40% of the working population wants to shift for better job offers. The McKinsey research concludes it.
So, there have to be smarter employee retention strategies in place. A solution that helps deliver all the strategies to retain and re-attract the best talent is uKnowva HRMS.
Know exactly how it is from the employee engagement and retention tips highlighted below.
7 Super-Sure Employee Retention & Re-Attracting Strategies:
Build an employer brand.
You have to give a reason for employees to stay and retain. Why must they choose your firm over others? It has to stand out, which comes from the employer brand. C-suite management must have more transparent policies.
It should be visible and downloadable from the uKnowva HRMS panel. Employees ask questions related to the policy through dedicated helpdesks.
This process ensures employees receive the best and most seamless experience digitally. They are not confused about why they are working for an employer or a company that way. Employees must reread the policies to refresh their memories and remember reasons to stay.
On the other hand, recruiters build rapport with employees with clearer policies. They share an immediate update on the new policies using the social intranet by uKnowva.
Employees need to know that the company updates its policies on time. That is to beat the competition and stay relevant. This improves employee retention and re-attraction score in the long run.
Implement an employee referral program.
Investing in an employee referral program is a definite measure to follow. By inventing and implementing a referral program, your firm gives the top talent the right opportunity to onboard their people.
When employees welcome their friends, families, or other trusted colleagues onboard, the cost of finding new talent is less. Employers can trust top talent and the TAT for background checks will reduce.
Such employee retention strategies are more favourable most times. Existing employees also learn new bonuses and compensation just for referring the best candidate for the next job.
They are eligible to earn these bonuses only when their recommendations join full-time. That’s the criteria in most companies, usually. But employees are often curious about the referral programs. So this is a smart strategy for top talents to earn extra without cumbersome efforts.
Make decisions based on real-time data.
Employee retention in HRM improves when recruiters hire based on real-time analytics. This applies to talent managers as well. They must grow habitual of using real-time HR analytics integrated with uKnowva HRMS.
It will benefit all teams involved in creating a better workplace and environment. It can be virtual or on-site. What matters here is that employers must do their best to deliver outstanding employee experiences to their top talents.
Recruiters hire the best candidate using the data reflected in the dashboard. First, they know the key phrases to be mentioned in the CV. That’s an example. Then, recruiters know which digital skills to prefer while hiring for the next vacancy.
Without the installed HR analytics tool, there would be much manual labour. It would consume hundreds of hours in each hiring process. Then, recruiters can end up feeling tired or might hire with a little bit of bias.
However, the overall employee retention rate improves when talent hunters scout it without bias. It’s only possible with uKnowva HRMS and its recruitment engine.
HR analytics can also help reshape the existing working culture. It will show the signs of:
- Unhappy employees
- Quiet Quitting
Talent managers need these predictions to refine the employee experience to retain top performers.
Digital onboarding is a must!
Gone are the days of manual efforts and labour for talent hiring and onboarding. Now is the time for digital onboarding. For example, uKnowva HRMS assists recruiters in shortlisting the right candidate.
The process depends on the triggered actions. It includes the keywords/key phrases to scout for a job role in the CVs. HR executives have enough time to interact with their existing employees by taking recruitment online.
They can consistently build rapport with their existing teams. That matters the most. Online onboarding saves hundreds of hours in deciding which candidate to select. Their skills matter and create an impact.
So, this process builds a better foreground for enabling a better employee retention rate. That happens because recruiters hire the best culture, job, and future-fit employees. Even there is less pressure on the environment to use the paperwork to hire.
Create enriching interviews.
The employee retention strategies include conducting regular surveys and interviews. These are necessary to dive deep into the existing employee’s psychology. Talent managers have to create and ask more fulfilling questions.
They must leave the questions open-ended. They can use the uKnowva social intranet to ask survey questions to teams at once. Recruiters can also roll out surveys for their ex-employees.
This is one of the smartest strategies to bring back outperforming ex-employees to the firm. Very few companies engage in encashing the surveys asked from ex-employees.
But firms can get real insights about their culture from ex-employees. They will give an unbiased view of the existing or previous work culture. And it’s the next chance for the recruiter to connect with previously top-performing candidates to reconsider and re-join.
Nurture your ex-employees.
Employee retention in HRM becomes better by re-attracting and nurturing ex-employees. But be mindful of attracting outperforming ex-employees. Not every ex-employee would be currently fit for the organisational culture or design.
Recruiters can invite all ex-employees and stakeholders of the firm for various events. These could be online or offline. Such events are essential to reconnect and re-attract ex-employees.
Also, employers must not isolate the departing employee at once. Instead, they must keep connecting with them through newsletters or social media mentions. This will help the company build a better rapport even with the departing employees.
Such employee experience gives easy access to departing employees to return after a 1-2 years gap. The company must be welcoming to re-hire such unmissable talent. The cost will also be less in hiring, recruiting, and background checks.
Create a talent and career pool.
Recruiters must use the uKnowva HRMS suite enabled with the right recruitment engine. It will help them sort out the ex-employees’ CVs. From there, they will know if any employee is still relevant for any current job vacancy.
The uKnowva HRMS helps create a talent and career pool in general. It will store every applicant’s CV there. So, recruiters can go back and refer to this pool for the next hire.
The cost of hiring will be less. The steps would reduce reconnecting with an existing applicant or candidate for a better job offer.
This improves the employer’s branding with potential employees. The impact of this process on the existing employee pool is also positive. It shows that the company values every candidate’s CVs and sticks to their words to re-hire or reconsider.
Recruiters can find creative, innovative, and intelligent employee retention strategies. But implementing them is the real task. uKnowva HRMS suite is full of tools to enable culture and future-fit hiring process.
It also enables managers to bond well and purposefully with their current employees. The on-cloud software makes retaining employees with a visionary mind and process easy and accessible.