Retaining Top Talent During the Great Resignation
2021’s employment landscape was one of the most tumultuous environments companies have faced in recent years. The high levels of turnover that have characterized the post-pandemic job market so far are expected to continue into 2022, leaving employers to grapple with the Great Resignation for another year. The following five strategies will help your organization prepare for this challenge by increasing retention among top performers in the healthcare industry.
Prioritize Career Progression
High-achieving employees are highly motivated by career progression. If they do not think they can realize their full potential within your organization, they will look elsewhere instead.
Employees who receive additional training and opportunities to upgrade their skills are more likely to feel like valued members of the team. They will also be better candidates for internal promotions, which further reinforces company loyalty. It is important for companies to keep investing in leadership development and training programs that would enhance the potential of their executives. Quality onboarding programs that give the new hires a clear picture of their potential roadmap within the organization are also helpful in retention.
Develop a Policy for Remote Work
Now that most white-collar workers have had a taste of remote work, few are eager to return to the office. If your top talent cannot work from home at least some of the time, they may decide to leave your team for another position that does allow them this flexibility.
To keep these employees from moving on, you will need to clarify your organization’s stance on remote work. Outline a policy that dictates which roles have the option to work from home and how often they will be permitted to do it. This will give you and your workers a good starting point for discussions around this issue, but be prepared to make additional concessions occasionally.
Take Precautions Against Burnout
The past few years have been extremely stressful for many people, forcing them to confront social, political, economic, and health-related anxieties all at once.
To keep your workers at the top of their game, prioritize work-life balance within your organization. Keep workloads realistic and be sure to check in regularly with each employee to measure their progress and ask if they need additional supports. Encourage time off and make sure that employees are able to fully disconnect outside of work hours. Showing your workers how much you value their wellness will go a long way toward improving their loyalty to your company.
Re-Evaluate Your Compensation Structure
In such a competitive market, top-tier workers know that they have the ability to command higher wages – and with record levels of inflation eating away at salaries, they have more reason to than ever before.
If your organization has the financial leeway to do so, consider offering your best workers a larger raise this year. This will remove a significant incentive for them to consider switching jobs. Increasing compensation may hurt in the short term, but it will secure your organization’s talent pool and help propel future growth.
Consult Your Team Members
If you really want to retain your best employees as long as possible, ask them what they need. Turn the exit interview on its head and conduct a series of ‘stay interviews with key employees in your organization.
Ask them not only what it would take to keep them with your company, but also what types of offers might tempt them to leave. Combine this information with additional sources like online employer reviews and anonymized internal surveys to figure out what your top talent wants and find a way to give it to them.
Retain, Don’t Replace
Without your strongest team members still on board, your organization’s future could be in jeopardy. Investing in retention now is the best way to keep as many top performers in your ranks as possible, and it can also help you prepare these key workers to take on greater responsibilities within the company.
The Brooks Group is here to help you sharpen your employees’ skills and give them the tools they need to feel confident in the work they do. Some of our areas of expertise include instructional design, account management training, and healthcare management consulting. Contact us today to inquire about our training services and how they can make a positive impact on workers’ motivation, company loyalty, and professional ability.