Industry Insights

Chalk it up to the so-called Great Recession, or just a change in mindset, but many industries are still struggling with workers heading for the exits and looking for greener pastures elsewhere. Losing employees is a difficult thing when it happens one by one; if there’s been a lot of turnover lately, you’re also looking at slowing down your productivity and ability to meet your clients’ deadlines. 

Wondering how to deal with it? Here are three simple ways to overcome turnover. 

Watch what your competition is paying its people.
While money is no longer the only factor when people decide which job to take (or keep), it’s certainly a big factor. If your competition is paying, on average, a higher wage than you, or offering a better or more diverse benefits package, or both? You’ll need to step up. Do your best to meet or slightly exceed the starting salary range of your competition in order to retain and attract top talent. Don’t forget to factor in regular pay adjustments to reflect the cost of living in your city. 

Prioritize work-life balance for everyone.
Regardless of job title, remember that your employees have lives outside of work. Part of the reason so many people have left jobs in the past two years is due to a reconsideration of priorities and what matters in life; companies that refuse to accommodate or acknowledge home-life responsibilities, the ability to care for one’s health and other personal matters are the ones that are losing employees. Don’t make those mistakes! Offer flexible working conditions: Remote work, hybrid options, video conference meetings, even shifting schedules to help accommodate things like child care and school drop-offs. 

Encourage and provide opportunities for skills development.
In a highly competitive and creative field like marketing, your creative team wants to stay ahead of the curve, play with new trends in marketing practices and make sure they’re keeping their skills sharp while learning new methods and tools. Employees who feel like they’re being held back or siloed and not allowed to use their creative tools will begin to feel suffocated and will want to move on.

Providing access to workshops, development programs, online tutorials, etc., will show your team that you’re ready and willing to invest in them and their future while keeping them happy and learning new things. It’s a win-win: They get to learn and stay sharp and your company continues to benefit from their brilliance. 

Losing an employee can cost a company thousands of dollars in lost profit, lost productivity and lost institutional knowledge. It takes time to go through the hiring process and then train someone to work on your team. Retention is a cost-saving policy, even if it means a little up-front investment to get started. 

Contact Method Recruiting Today

If you’re looking to expand your team or add new members into open positions, Method Recruiting can help! Our expert team of recruiters can help you find highly skilled professionals that will add to your talent pool. Call Method Recruiting today and let’s get started.