Tiger Eye Hiring …a better way to hire!
Retaining top players is important for a company’s success, yet top talent may start shopping for new employment opportunities during uncertain economic times. How do you get your most valuable employees to stick around? Read on for valuable tips.
Ann Clifford, President
Dos and Don’ts
Can a company require an employee to sign a contract saying they will stay with the company for a specified amount of time? See answer provided below.
Voluntary turnover decreases during tough economic times. According to recent surveys, it is down as much as 50%. So why be concerned about losing key employees?
Average and low performers are unlikely to leave due to the uncertainty of the marketplace. However, top performers, particularly in product development, health care, or sales are more marketable. If a top performer senses problems at your company, they may not hesitate to jump ship.
To reduce your risk of losing important members of your team, treat your employees well regardless of economic conditions. And, pay special attention to you key talent.
(By Allison Witmeier, Safari Solutions, HR Consultant)
4 Tips on Retaining Key Talent
Retaining key players is the best way to increase productivity and reduce hiring costs. Follow these strategies to retain top talent:
Meet with top performers to identify what motivates them and determine how they like to be rewarded.
Compensate your employees fairly, but remember, fair does not mean equal.
Provide employees with stimulating challenges and meaningful work.
Encourage, coach, and provide regular learning & development opportunities.
(By Ron Giles, Safari Solutions, HR Consultant)
D. Career Growth
Answer to Today’s Dos and Don’ts
Can a company require an employee to sign a contract saying they will stay with the company for a specified amount of time? In many states, such as Indiana, employment is “at-will” which means employers and employees can end employment at any time. However, an employment contract can over-ride this. Although legal, employment contracts may not be a good idea. While the cost of losing a trusted employee is high, there are pitfalls in requiring an employee to stay with you. If an employee wants to leave, it is often best that they do. And if an employee does not perform, a contract drastically limits your flexibility.
(By Allison Witmeier, HR Consultant, Safari Solutions)
Safari Solutions | 8444 Castlewood Drive, Suite 500 | Indianapolis | IN | 46250
Safari Solutions’ recruitment process outsourcing services help companies hire better. Acting as a corporate HR partner, we help companies make educated hiring decisions by sourcing and screening candidates with a high level of due diligence. Over 200 business owners have received the expertise of a Safari Solutions recruiting specialist for their hiring initiatives. From receptionist to CFO, Safari Solutions improves hiring results!