What Are You Doing to Proactively Ensure and Nurture Employee Retention?

We are seeing a definitive trend with organizations facing strong competition for good human capital. In a recent SHRM publication, “according to the CareerBuilder results, certain industries are expected to match or exceed the national average for adding full-time head count in the second half of the year”. Understanding the simple economics of supply and demand, it is important to maintain a focus on recruiting candidates that complement the corporate culture and exude the characteristics required to succeed in their defined role within the organization.

For starters, utilizing a strategic recruiting platform can support Human Resources and Leadership with key pre-employment benefits that support efficiency and efficacy. Predictive analytics support a better-quality control process by factoring in the intelligence to forecast the potential future performance of a prospective candidate.

Onboarding your new team member in a positive and professional manner can also have a meaningful impact on the longevity of the employer-employee relationship. CareerBuilder’s 10 Commandments of Onboarding advises, “Effective employee onboarding has a positive domino effect: it ensures that new hires feel welcome and prepared in their new positions, in turn giving them the confidence and resources to make an impact within the organization, and ultimately allowing the company to continue carrying out its mission”. This is an ideal opportunity to introduce the corporate culture and the value the organization places on their human capital.

Organizations using management techniques spotlighting servant leadership have readjusted their lens to meet and serve the basic needs of their employees. Based upon Fortune Magazine’s annual list of the best companies to work for, 5 of the top 10 Best Companies to Work For are also identified as companies practicing servant leadership. Culture has become a buzz word illustrating the health of the work environment; however, culture is indeed a practice that needs to exude from the top down through leadership, communications, benefits and internal customer service. It is a well-recognized philosophy in the Human Resources profession, that people quit their leaders and not their job. The two key factors are whether employees feel they’re being treated fairly at work and whether they feel their boss respects them, said Anthony C. Klotz, an assistant professor in the College of Business at Oregon State University.

You now have a talented employee that has been on-boarded in a manner consistent with your team and provided an environment of service, respect, and value. Providing additional professional development, purposeful employee benefits, regular employee surveys and a positive experience will drive engagement, productivity, and longevity. The 2017 Deloitte study states “a productive, positive employee experience has emerged as the new contract between employer and employee. Just as marketing and product teams have moved beyond customer satisfaction to look at total customer experience, so is HR refocusing its efforts on building programs, strategies, and teams that understand and continuously improve the entire employee experience”.

As a comprehensive financial services firm specializing in employee benefit programs and executive benefits, we serve and support our clients as an outsourced Chief Experience Officer (CXO) for the Employee Benefits Program. Our concierge service model adds value and mitigates potential HIPAA and PHI risk factors. We customize relevant communications, engage employees with tailored education and serve as personal and confidential navigators. As the business associate, we manage all sensitive matters on behalf of the employer. This creates an added layer of protection while serving each employee individually. We partner with employer groups to steward and serve a positive and professional employee experience.

About the Author
Tina Craft, Vice President Sales, Fringe Benefit Plans, Inc.

Tina Craft is a talented employee benefits professional contributing 20 years of expertise to Fringe Benefit Plans team in Winter Park, FL. Her background in broker advisory services for health and welfare programs helps employers achieve financial and human capital goals.

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2017-07-31T18:12:47+00:00