{"id":58734,"date":"2015-11-08T17:19:45","date_gmt":"2015-11-08T23:19:45","guid":{"rendered":"http:\/\/www.businesspundit.com\/?p=58734"},"modified":"2020-09-21T13:33:56","modified_gmt":"2020-09-21T17:33:56","slug":"3-tips-for-retaining-employees-in-a-competitive-market","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/3-tips-for-retaining-employees-in-a-competitive-market\/","title":{"rendered":"3 Tips For Retaining Employees In A Competitive Market"},"content":{"rendered":"

\"Happy<\/a><\/p>\n

With unemployment hitting 5.0% it is becoming a job seekers market. Gone are the days when a business can take their pick of the little and fill a position almost as quickly as its posted to their jobs board.<\/p>\n

The goal for many companies these days are to retain the top talent they already possess.<\/p>\n

If you can maintain your employees and keep them happy, your training costs lower and you end up with talented workers who enjoy their job and actually want your company to succeed.<\/p>\n

Here are three tips that you can implement right now to retain employees.<\/strong><\/p>\n

Culture<\/strong><\/em><\/h3>\n

\"Company<\/p>\n

Every company has its own culture. If you want to retain employees part of your culture needs to be a “feeling of belonging.”<\/p>\n

How do you make employees feel wanted? You foster a feeling of building something together.<\/p>\n

Start with a clearly defined vision.<\/em> Make sure your employees know where the company is headed and show and tell them how they can do their part to reach that shared vision. This gives your employees a sense of purpose and makes them work together as a team.<\/p>\n

Build strong leadership.<\/em>\u00a0The saying “employees don’t leave companies, they leave managers” is very true. If you have strong leaders who guide, coach, and help employees when they need it, and even when they don’t, but will appreciate it, you end up with a longlasting culture.<\/p>\n

Thoughtfulness:<\/em>\u00a0Understand your employees liked and dislikes. Learn about the charities they support and the things they like in life. Don’t get personally involved with your employees but learn what they love and see if that love has common traits among your workers. Show your employees that you support them at work and that you appreciate their lives away from the workplace.<\/p>\n

Professional Development<\/strong><\/em><\/h3>\n

\"Man<\/a><\/p>\n

A recent study found that the number one request among entry-level employees is the ability to learn new skills that will help them with their careers. In fact, many of those employees said learning new skills and general professional development was more important than a raise, especially early in their careers.<\/p>\n

A 2012 study by Linkage, Inc., found that more than 40% of respondents said they\u2019d consider leaving their present employer for another job with the same benefits \u2014\u00a0if that job provided better career development and greater challenges.<\/p>\n

Successful companies often follow a simple 70-20-10 rule when it comes to their employee\u2019s professional development:<\/p>\n