Once a company has landed its top talent, the work does not end there; recruitment strategies should immediately be followed by retention strategies. Unfortunately, turnover in employment is incredibly common, with many candidates using jobs as spring boards to move ahead. Other candidates are enticed by the initial perks but soon realize they do not fit in to the job’s cultural community. It is reported that nearly 90 percent of employees decide whether to stay or go within that first six months at their new job. Therefore, companies have to develop strategies to insure maximum retention. There are certain aspects of insuring retention that are the same, regardless of diversity efforts within a company. Mentoring new employees is the first step to building connections with employees and ensuring higher retention rates. Using mentor programs allows new employees to develop initial roots within the company and instills loyalty and sense of belonging. Other successful retention efforts include emphasizing health and wealthness and showing that your company understands the necessary balance between work and life. This is done by awarding success and accomplishments of employees and offering performance benefits and incentives to keep motivation high. Employees are more likely to stay if they are able to advance. One of the top reasons an employee may use a job as a spring board is because another job is prepared to offer them higher compensation or a promotion, so it is also helpful to promote within the company. While retention of all employees is beneficial, focusing retention on a diverse population with different ages, genders, races, and ethnicities creates the most competitive company. Diversity promotes innovation and the cultivation of different ideas, so companies should strive towards the retention of diverse employees.
When it comes to retaining diverse candidates, there are extra steps to be taken. In large companies, diverse employees can feel lost in a crowd or treated poorly, with no outlet to express these feelings, so many move on, causing companies to lose top talent. Companies have a better chance of retaining diverse employees if they have guidelines set in place to promote a comfortable and successful work environment. The top ways to do so are as follows.
Start With Recruitment
Retention efforts begin with the recruitment process. If a company promotes and strives for diversity from the start, there will be a decreased chance of issues related to intolerance or unrest within the workplace. By recruiting diverse talent that is not only promising, but loyal and tolerant of what the company stands for, retention later on will be that much easier.
Diversity training for all staff should be mandatory to promote tolerance and respect, as well as dissuade bullying and harassment towards diverse employees. Training can also encourage the sharing of different beliefs and cultures, so that every feels welcome to express their ideas. This training reemphasizes the accepting culture of a company and increases chances of retaining diverse employees.
Cultivate Inclusion Environment
It helps to promote familiarity, creativity, and self-expression in a diverse workplace. Companies that encourage a cohesive and relaxed environment are far more successful at retention than companies with cold, hostile environments. Teamwork can help cultural integration through those of different ages, races, cultures, and backgrounds. By working together, feelings of exclusion can be dramatically decreased.
Open door policies are crucial to ensuring that all employees feel comfortable discussing complaints or concerns with superiors who can handle differences and disagreements appropriately. A company that promotes communication breeds employees that are able to discuss what needs are not being met, and then move on to perform excellent work, free from distraction.
Build a Reputation
A company that sets itself apart by building a reputation of being an inclusive, diversity friendly workplace will automatically have a higher retention rate. Having such a good reputation will not only retain diverse employees, but attract more diverse candidates. A happy, healthy environment translates in to happy, healthy employees who are satisfied with their employment.
Regardless of a company’s diversity efforts, certain steps should be taken to maintain a cohesive and happy workplace that instills loyalty within its employees. In the end, it is inevitable that companies will occasionally lose top talent, but retention strategies can make these losses as minimal as possible.
Written By: O. Greebdyk