The Secret Behind Employee Retention

by Ryan

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The Secret Behind Employee Retention - ManageStaff

Hiring the Right Employees.. And Keeping Them

Does your business struggle with balancing the need for hiring new employees with organizational costs related to recruiting, training, and integration of new employees?  Has employee retention become a barrier to your business’s growth?  Despite what common perceptions might be, this has become an epidemic amongst American organizations today because of modern recruiting tactics and emerging trends with employees under 40.

At ManageStaff, a Phoenix HR company, we help our clients not only hire qualified candidates that are great fits for their respective companies, but also find employees who are willing to dedicate their career to a role within your organization for years to come.  However, retaining talent takes more than just a quick fix; it requires organizational awareness and attentiveness to your employees’ needs.   We would encourage you to speak with a ManageStaff expert, but here is the most important tip on how your business can keep talent for years to come:

Money is important, but it isn’t everything.

There is ample research dedicated to the subject of compensation and how it motivates people to perform, and the overwhelming consensus is that the association between salary and job satisfaction is weak.  Initially people are generally motivated by compensation (as we all can attest to), but as time goes on and each person becomes more acclimated to receiving that level of compensation, it becomes harder to motivate a person with the same salary or incremental pay raises.  

Job satisfaction is usually a good predictor of an employee’s willingness to stay loyal to their employer, and although high wages may not entirely keep the commitment of all employees,  a lack of fair compensation will certainly cause high job dissatisfaction among most employees. Compensation is regarded as a recruiting minimum, along with safe working conditions and job security.  For businesses today to maximize employee retention, they need to find ways above compensation to maintain their staff’s level of engagement.  

So what can your organization do to prevent members of your staff from becoming dissatisfied with your business?  There are many potential options, but ManageStaff recommends providing benefits through our easy to use benefits administration services.

Employee benefits

pc: www.jpshealthnet.org

Research suggests that the majority of the American workforce’s commitment and engagement on the job is correlated with their attitudes toward their health and retirement benefits. We can help provide services like health plans, retirement planning, supplemental insurance, and more that will increase your employees’ commitment to your organization, while also raising your company’s bottom line. 

Let ManageStaff help improve your employee retention rates with our range of HR administrative services.