How to Find Companies With the Best Employee-Retention Strategies

Happy employees

Employee retention is critical for the long-term success and viability of a firm. Good talent is the lifeblood of any organization, and retaining the best employees ensures continued sales, builds long-lasting business relationships and prevents tacit knowledge loss. For employers, good employee-retention strategies equate to a growing organization. However, for employees those strategies equate to a pleasant working environment and the knowledge that they're working for a company that respects and honors who they are. You can review surveys and reports by consulting firms, such as the one "Entrepreneur Magazine" publishes every year, but your best bet is to do your own survey by tapping in to your social and professional networks.

Instructions

1. Target your networks. With social and professional networks like LinkedIn and Facebook, it is easy to keep in touch with, and track down, your old colleagues and friends. Use them as the focus group for your survey. Compose an email or a letter outlining your goals and objectives. Provide the group with a few simple questions.

2. Ask your focus group about the quality of supervision. Managers and supervisors are a common reason people leave their jobs. Ask your group if there's a formal system in place to discuss expectations, earning potential and performance. Does the manager provide the employee with a clear understanding of what success and failure is?

3. Ask about skill utilization. Does the organization take advantage of employee skill sets? Do employees feel as though their skills are being used? Is there an opportunity to develop employees' skill sets?

4. Ask about equitable treatment. Do the people in your focus group work for merit-based companies, or is it more about who you know and what school you went to? Are new hires promoted at a faster rate than seasoned professionals in the organization?

5. Inquire about learning opportunities. Those companies that retain the best employees are good at helping them to grow to their fullest potential. Do they support continued education? Are there other learning opportunities to take advantage of? Does the organization pay for certifications or licensing?

6. Ask about a system of rewards. This should be a formalized system. The best employees enjoy being rewarded and appreciated. Just saying thank you can go a long way. Survey your colleagues and friends on the kind of reward system in place for employees at their organizations.

7. Analyze the survey results. After you've polled your focus group, pull together all the responses. A few shining companies should prevail. Remember to thank everyone who helped.

References

• Employee Retention Strategies
• Retention Connection

Resources

• Fortune: 100 Best Companies to Work For