8 Strategies for Retaining Your Best Talent

WOW Recruitment

Working in recruitment, one thing’s currently pretty clear to us – top employees have no qualms about moving to another organisation if a better opportunity comes calling. And losing a staff member really hurts, not just in dollar figures but in taking those years of company knowledge with them.


If you want to avoid the pain of productivity, performance and culture losses and hold onto your best talent, here are eight suggestions on how to improve employee retention.


1. Review Your Salary and Benefit Offerings


It doesn’t matter what industry you’re in right now, competition for great talent has hit a fever pitch. In such an environment, it’s difficult to remain ahead of the curve in relation to salary going rates (hot tip: ask us!). But it’s oh-so-important you do for two reasons:


  • Your valued staff don’t have to feel the pressure to ask for a pay packet boost (or worse yet, go looking elsewhere to find it)


  • It clearly shows them how much you value their contribution (an essential for employee engagement and retention)


However, keep in mind that money isn’t the be-all and end-all of retention. It also pays, literally, to try to go beyond the pay packet. What can you offer by way of benefits? Better yet, find out what your staff really want. Many will happily forgo the office ping pong table for greater work flexibility, whether it’s start and finish times that make it easy to attend to a family emergency or school function, or a work from home option. With more employees now enjoying working from home (having got an enforced taste thanks to the COVID-19), offering this is an impactful employee retention strategy.


The ability to personalise benefits is also attractive. If it’s realistic for your organisation to do so, you could consider allowing employees to swap out benefits as their circumstances change. A staff member who has recently become a new parent, for example, might appreciate a bit of extra parental leave over a company-sponsored gym membership.


2. Realise Recognition Reigns Supreme


Rewards needn’t be financial to be effective as an employee retention strategy. Recognition for work well done is just as important as the dollars and cents that make up an employee’s pay packet, as it boosts their motivation and loyalty stores (and those are some great retention boxes to tick!).


Take a few moments to think about what you do on a daily or weekly basis to show your employees how much you and the business at large value their efforts. If you need a bit of inspiration, a simple “thank you”, acknowledging their efforts one-on-one, or giving public recognition in team meetings or across digital communications can make a big difference. Awards are always appreciated too.


Some examples are:


  • Team member of the month
  • Gift cards
  • Social activities (pizza nights, tenpin bowling etc.)
  • In-office treats (lunch delivery, lunchtime games/trivia etc.)


3. Ensure Employees Have a Clear Career Progression Pathway


Another vital component of learning how to retain top talent is to ensure they’re confident they have a bright and engaging future at your company. Invest in the time to uncover your employees’ professional goals and try to understand what excites them. Your sales star might want to eventually lead their own team, or your tech support guru might have a hankering to get into development in the future.


Once you’re clear on where they want to go, set up an appropriate development pathway encompassing short and long-term milestones. And don’t forget to check in regularly to ensure their role still aligns with their long-term goals.


4. Provide Regular Opportunities to Upskill


For many employees, stagnation puts them firmly on the fast track to looking for greener employment pastures. Upskilling and further training is one way to avoid this and keep those engagement levels high.


Give your staff plenty of opportunities to update and expand their skillsets, from internal and external training to mentorship and job shadowing, to a commitment to promote from within (both laterally and up the ladder). Aim to connect this to each employee’s personalised career progression pathway so it’s relevant and valuable to them.


5. Foster an Open Communication Culture


Another essential to improve employee engagement and retention is nurturing an ‘open door’ culture – one where employees know their opinions are welcomed and their feedback is actioned. This way, you can quickly address any frustrations or worries with salaries, tasks, deadlines or management before they come so deep-seated the staff member entertains the idea of other job options.


Soliciting feedback is one part of developing a truly open culture. You can consider a mix of anonymous (online) and direct (face-to-face in meetings) at regular intervals. A simple form might be a short survey that asks “Can you identify any bottlenecks in your daily workflow? What suggestions do you have for improvement?”.


Whatever form/s suit your company, follow-up is vital. Act on the suggestions, or provide an explanation if you can’t.


6. Reflect on Your Leadership Style


it’s widely acknowledged that a bad boss is one of the main reasons people decide to move jobs. While it could be a tad uncomfortable, consider critically reviewing your leadership style. Are you a ‘hoverer’, always asking for updates or requiring approvals before your staff can take action?


If you’ve successfully fostered an open culture, you could also directly ask your employees for honest feedback about what is and isn’t working in the way you manage and lead. And again, follow through by taking steps, no matter how big or small, to action it.


7. Learn From Your Exit Interviews


Ok, so you lost an employee. While it’s frustrating, you can still salvage something valuable from it, and you will find it in your employee’s exit interview.


An exiting team member holds crucial intel about the health of your company. If done properly, the exit interview can allow you to extract great feedback to assist in improving your culture, minimise further turnover and, even improve your brand. Aim to do it during your employee’s final week with someone who’s not their direct manager, as a neutral party increases the chances of them opening up and speaking freely.


8. Recruit Smart


While the above seven employee retention strategies are focused on what you can do with your current employees, this one sits in the ‘prevention is better than cure’ vein.


Carefully reviewing your recruitment processes helps you achieve an optimum alignment between what you want and what the employee wants from the get-go, resulting in a better match and longer-term retention.

This involves:


  • Understanding the job and the skills, abilities and qualities needed in a potential employee
  • Asking the right interview questions
  • Setting and managing employee expectations during the recruitment process
  • Maintaining communication momentum so you don’t lose a great potential hire to another company.


Sounds like a lot of work, right? As Sales, Marketing, Business Services and Technology recruitment specialists, this work is something we love doing! We’ll happily take the stress out of the recruitment process for you, along with providing an ideal candidate experience throughout every touchpoint of the journey. Feel free to get in touch or give us a buzz on 02 8320 0683 to find out how we can help.

By Daniel Tonkin October 3, 2024
In today's rapidly evolving business landscape, customer experience has become more critical than ever. As digital platforms continue to transform the way we interact with brands, businesses must adapt to meet the evolving expectations of their customers. We recently hosted a panel event with industry leaders sharing lessons from their lived experience. We were joined by: Mareile Osthus – Co-Founder & CEO, Humii Blair Redfern – Head of Customer Support, Spaceship Heather Robinson – Customer Care Director, Lyka The Rise of Digital Platforms Traditional customer satisfaction metrics, like Net Promoter Score (NPS), often fall short in providing a comprehensive understanding of the customer journey. Digital platforms, however, offer a wealth of data that can be harnessed to gain deeper insights. This data and feedback on the customer journey should be shared during stakeholder meetings to illuminate pain points and identifying solutions. Companies like Humii are at the forefront of this revolution, using cutting-edge technology to analyse online customer behaviour and identify areas for improvement across the customer’s journey. By combining human analysis with data-driven insights, these platforms provide retailers with actionable recommendations to enhance their customer experience. “You can’t fix what you don’t know or measure.” – Mariele Osthus The Importance of Human-Centricity While technology plays a crucial role in understanding customer behaviour, it's equally important to maintain a human-centric approach. Empathy, personalisation, and a genuine understanding of customer needs are essential for building strong relationships and maintaining brand loyalty. Lyka, a dog food company founded by Anna Podolsky, exemplifies human centricity. By offering customisable plans and using high-quality, human-grade ingredients, Lyka demonstrates a deep commitment to the wellbeing of its customers and their furry friends. Navigating Economic Challenges It’s no surprise the current economic climate presents unique challenges for businesses and their customers. As consumers tighten their belts, it's more important than ever to provide exceptional value and support. Spaceship, a financial services company, is actively addressing these challenges by reducing fees and offering transparent pricing. By prioritising customer needs, providing clear communication and meeting them we’re they’re at financially, Spaceship is building trust and loyalty in a difficult economic environment. “It’s important to get your wider team on the tools to help evolve the CX experience. ” – Blair Redfern The Balancing Act of Technology with Human Touch The successful integration of technology and human touch is essential for delivering an exceptional customer experience. Automation can streamline processes and improve efficiency, but it will never replace human connection. Heather from Lyka emphasises the importance of strategic thinking when it comes to automation. By identifying areas where human touch is most valuable and empathy is needed, businesses can ensure that technology enhances rather than replaces the customer experience. “Define where human touch is needed and automate the other parts.” – Heather Robinson Talent and Culture Attracting and retaining top talent is crucial for delivering exceptional customer experiences. Creating a positive and inclusive work culture is essential for employee engagement and satisfaction. Spaceship has achieved a remarkably low staff turnover by investing in employee wellbeing, offering competitive benefits, and providing opportunities for growth and development. Mariele from Humii emphasises the importance of trust, autonomy, and flexibility in creating a supportive work environment. Emerging Trends and Predictions As the customer experience landscape continues to evolve, businesses must stay ahead of emerging trends. Automation, personalisation, and data-driven insights will play an increasingly important role in shaping the future of customer service. However, it's essential to remember that the human element remains indispensable. By combining technology with empathy and understanding, businesses can build lasting relationships and thrive in the competitive marketplace. Prioritising customer experience and service must be a company-wide mindset. Work-life balance is now the primary driver for employees, closely followed by salary and compensation concerns. Career Development and Job Security remain important factors, while the current unemployment rate stands at 4.2%, reflecting a still-tight job market. Although salaries have seen a slight 4% increase over the past year, growth appears to be slowing. Meet the Speakers Mareile Osthus – Co-Founder & CEO, Humii Humii is a startup that makes retailers’ online customer experience tangible, measurable, and trackable. Mareile, with over 20 years of retail experience and 15 years in e-commerce, has successfully scaled giants like Zalando and THE ICONIC. Her insights on optimising the customer journey were invaluable. Blair Redfern – Head of Customer Support, Spaceship Spaceship is an Australian financial services company dedicated to empowering people to invest in their futures. Prior to joining Spaceship, he gained valuable experience in operations and strategy roles at Plenti and Uber. Heather Robinson – Customer Care Director, Lyka Heather Robinson is the Customer Care Director at Lyka, where she champions the importance of personalised service and human connection in an increasingly tech-driven world. With experience from Menulog and ANZ, she brought a unique blend of expertise in customer care, making her insights particularly impactful. If you're looking to recruit top talent in CX or are a candidate seeking a role in this field, reach out to us! WOW Recruitment specialises in customer experience roles across call centres, operations, business support, and more.
By Emily McLeod, WOW Recruitment September 11, 2024
The best talent in your industry might not be actively searching for a job, but that doesn’t mean they wouldn’t be interested in an opening at your organisation. After all, an opportunity’s an opportunity. This type of candidate search is called ‘passive recruitment’, and it differs pretty heavily from the more well-known ‘active recruitment’. Let’s talk about how they differ, and strategies to attract the best passive talent. Recruiting active vs. passive job candidates Who are active candidates? Active candidates are your classic job seekers. They already know they’re interested in another role, and are actively searching for a new employer. An active recruitment strategy is the common approach: writing job ads, posting them online and vetting candidates who apply. Who are passive candidates? Passive job seekers are candidates who don’t know that they’re candidates. They aren’t actively searching for a new role, and could be quite happy at their current employer. Still, for the right offer they might consider hopping over to your team. A passive recruitment strategy is proactive and slightly more challenging. It’s more of a head-hunting approach, identifying right-fit candidates from across the industry and building relationships with them over time. Many recruiters nurture these relationships even when there are no active job openings, just to stay in people's minds. Then, when a role eventually opens up, half the work is already done. The benefits of recruiting passive candidates Pitching your open role to a passive candidate might seem like a tricky sell, but there are a lot of benefits to finding these talented professionals – often outweighing the extra effort. Gain access to the best talent. Sticking to active recruitment can mean recruiting with blinders on, seeing only the people who are on the hunt. Broadening your search allows you to more accurately target right-fit professionals who you know are highly employable – after all, they are already employed! Reduce time-to-hire. When passive recruitment is done proactively, it may be quicker to fill openings with this strategy; by the time you need someone, you already have a number of prospective candidates sourced and nurtured. Less worker misrepresentation. Taking time to source ideal people ensures you already know a lot about them by the time they come to apply. This can lead to less worker misrepresentation, where people aren’t what their CV says they are. Lower competition. Active job seekers usually apply for multiple jobs at once. Meanwhile, passive job seekers aren’t on the market at all, so you may be the only one talking to them – reducing competition for their skills. Simple strategies to win passive talent 1. Brainstorm your perfect candidate Before starting the passive recruitment process, brainstorm who you actually want to find. This is a goal-setting exercise, giving you a ‘persona’ to target and an objective to measure success against. Some steps to consider: Identify current and future needs within the organisation, to better understand what skills gaps you'll be filling. Ensure you have a complete understanding of the job description, and all the necessary skills and qualifications. Build a persona which outlines the likely demographics, qualifications and other key features of the most likely candidates for any applicable roles. Who they are, where they work, what they know, their preferred salary, industry pain points... all of this may be relevant later. Gain buy-in (and sign-off) from relevant stakeholders within your business, especially whichever team leader is likely to manage this new hire. This will help ensure you’ve got all your details correct. 2. Strengthen your employer brand Your employer brand is your culture, values and mission, value proposition, and reputation. A strong employer brand is instantly recognisable, where professionals in your sector know your business to be a great place to work. The stronger the brand, the wider this reputation spreads. Having a strong employer brand is essential in passive recruitment, as right-fit candidates may engage with your brand long before you ever reach out to them – through your content, social media presence, events presence or word of mouth. If this contact has been positive, they may already have a high opinion of your organisation when you engage them for the first time. Learn more: How to Build an Authentic and Appealing Employer Image 3. Conduct a thorough candidate discovery process Finding right-fit passive candidates goes well beyond job boards. You’re looking for the perfect match, someone to engage and build a relationship with over time, and they might be hanging out in one of a few different places. These are some examples of common sources successful passive recruiters have used in the past to find and engage with the best passive talent. How many are already on your mind? Social media platforms (LinkedIn especially) Industry networking events Relevant online communities (i.e. forums, chat groups and other relevant websites) Industry magazines, blogs and publications, looking for interesting guest writers Company alumni (who can you win back?) Referrals from current employees, industry peers or company alumni Talent from previous hiring initiatives who are still in your database Universities and other relevant colleges, if appropriate for the role The persona(s) you created in step one should help you narrow down your search, and give you a benchmark to measure potential talent against. 4. Reach out and make contact It's most common to reach out to passive candidates via email or social media DM. Of course, if you’re on a mutual online community you might spark up conversation there or introduce yourself at an industry event. Tips to consider when reaching out to passive candidates: Always get to the point. Long-winded introductions are often ignored by busy professionals. Offer a clear value proposition. Focus on value during your pitch. You need to offer something that they don’t have in their current employment, otherwise they won’t see a benefit in jumping ship. We’ll come back to this in point five below. Try to build a rapport. This isn’t a job ad, it’s a blind date. Spark up conversation, keep things moving. This is an ideal opportunity to learn more about the candidate – we'll talk about that below too. Tailor every message. Always tailor your outreach to the platform and person. Mass emails might look like spam. Ask them for a response, even if they aren’t interested. We know they aren’t actively looking for a job, but we can still get a conversation flowing to learn more about them. Alternatively, they might be able to refer you to a trusted colleague who is ready, and who may make a similarly great candidate. 5. Build a relationship with each candidate A good relationship with passive candidates is crucial to earning their trust and, in future, winning their application. This isn't a transactional thing, it’s two people dating, vibing each other out, seeing what the other person is about. Is your opportunity as good as their current one? Is it better? Can they trust you? These are the questions going through their mind. Keep things simple at first, and work your way up You might not pitch an opportunity straight away, instead focusing on dialogue and building the relationship for the relationship’s sake – that’s the proactive part of this we mentioned earlier. Act fast if they show interest Passive candidates can get second thoughts, or waiver and lose interest. Ensure you get them an interview with the right stakeholders as promptly as possible if they show interest, putting some faces to names and offering more of your value proposition to the candidate. Remember, the more you can learn about them the better If you get more information, you might learn more about what they dislike in their current role, or what they’re looking for in a possible new one. This will help you position your company as having the thing that they don’t have, but want. Finally, always respect their time People are busy, and their time is precious. We can empathise with that by keeping things concise, being clear and never pushing someone beyond their comfort level. Even if a candidate is interested, they might not be available yet, and we have to recognise that in order to win them over time. Empathy is never a bad strategy in recruitment! Need help? Call us Passive recruitment can yield excellent results, but it isn’t as simple as active recruitment. That's where you need a dedicated recruitment professional in your corner, helping you with the tricky stuff so you can focus on interviews and choosing the best from the best. To learn more about how we might be able to help with your hiring needs, contact us today .
By Wow Recruitment August 28, 2024
To attract the best people and culture talent to your business, you’ll need to focus on aspects of the role like purpose and value, not just daily tasks.
More Posts