Talent Mobility And Career Management Strategies Are Necessary To Compete

Jun 27, 2017 |
News |

Many companies of today have a huge turnover rate. There are a lot of reasons that employees choose to not stick with companies like they once did. This trend costs businesses a lot of time and money.

Why is it Beneficial to Keep the Same Employees

There are many reasons to keep company mission and expectations communicated and to continually measure performance keeping the team motivated and doing their best.  When an employee is underperforming it’s best to understand the reason and help them improve.  Keeping non performing employees will cause turnover. However, if you have a high performing employee, keeping them on staff will help your business grow.

It’s wonderful when you have team members that have been with your company for years, they understand the culture of your business and how it functions. However, a new employee can come in with a fresh outlook on how to do the business and once they are following the systems and process the management needs to pay attention to the new employees ideas.

There is something to be said about consistency that keeps customers coming back. When clients come in and are served by familiar people, it can make them feel more comfortable.

How to Keep Your Turnover Rate Down

There are many things you can do to keep your turnover rate down. Here are some things that businesses should consider doing to help their staff stay satisfied with the company.

  • Hire the best you can afford, be it an internal promotion or external hire.
  • Promote internally based off of performance and results- when you chose to promote an existing employee, you should promote based off all they are bringing to the table.
  • Help employees map a career path– motivated people are looking for jobs that can grow them to their fullest potential. Help your team do that by mapping out a career path within your business. Otherwise, they may go somewhere else to advance their career and only see your business as a stepping stone.
  • Offer exciting opportunities- for those that are your top performers. IE: flexible hours, professional development programs, recognition, etc… This is a great way to attract top talent and keep them when they come on board.
  • Be flexible and innovative in your approach- it is important that companies adapt to the preferences of the current generation as well as customer needs.
  • Move away from a one size fits mindset- all organizations should understand that when it comes to assignments, they need to be flexible.

These processes have been used by many corporations with much success. What strategies have worked for your company?

We would love to hear your comments! Contact Otis & Tina Bishop today!

Thanks for your readership.

Sincerely, Otis & Tina Bishop

Bishop Placement Services

150 Uptown Square suite D Murfreesboro, TN 37129

http://www.bishopplacement.com ~ otis@bishopplacement.com ~ 615-367-6177

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