Poaching is a questionable, yet very common business practice and every manager fears that their best talent may some day be snatched by the competition. Current dynamic job market offers multiple career opportunities, therefore the employees who are dissatisfied with their current job arrangement gradually become more susceptible to poaching. Your task as a manager is to retain your best talent and keep attrition rate at minimum.
Luckily, there exist effective strategies that you can use to minimize the risk of employee poaching – keep on reading to find out what they are.
Work on company culture
Cohesive company culture is a set of clearly defined guidelines that motivate and encourage your employees to succeed. In order to establish a great company culture that everyone would identify with, take a look at your company values and put them into action. Define a high-impact cause that your employees feel passionate about. In today’s highly competitive work environment, give your staff something to be proud of and help them stand for something bigger than just their day-to-day duties.
Define your expectations
It is important to define your expectations towards your employees from the very beginning. That’s why, when you post job offers on various job boards, such as Gumtree make sure that your ads are as detailed as possible. Do mention what skills and experience you expect from prospective employees and clearly outline job specifications, so that the candidates know exactly what kind of work they will be doing. This will prevent them from feeling disillusioned and, as a result, increase employee commitment to the job they wanted in the first place.
It will also help you build a dedicated team that knows its goals and works together to accomplish them.
Give your employees a safe space
In order to retain top talent create an atmosphere of mutual respect. It is important that your employees feel they can voice their opinions freely. Be attentive to their comments, feedback and ideas and put the best ones into action, as it will assure your employees that their voice is heard.
Some issues, though, may be confidential and no one would like to put them out in the open, therefore set up a private ethics hotline where everyone would be able to talk about ethical issues without the fear of retribution.
Offer attractive employee benefits
Many companies offer standard benefits such as healthcare, 401k plan, vacation and paid time off work. In order to stand out from your competition offer your employees an extensive employee wellness package, so that they know how much you appreciate their work and care about their physical and mental well-being. Organize a poll among your staff to find out what benefits would bring the most value. It can be anything from offering interesting workshops, setting up qualification-boosting seminars or organizing on-site yoga classes. Also, review your benefits and compensation packages regularly and make adjustments as needed in order to stay competitive on the job market.
Create a functional office
On average people spend 1/3 of their life at work or in an office, therefore it is reasonable to create an office space that is equally comfortable and functional. If you can’t afford to build an office of your dreams, consider renting a space in a high-profile business district and in well communicated part of town which can be easily accessed by public transport. Equip your office with coffee machines, offer free healthy snacks, fruit and veggies. Additionally, you can create a recreation room with some video games, football table or table tennis. That way, your employees will have a fun space where they could spend their breaks or unwind after a stressful meeting.
Focus on career plans
Employees who have clearly defined career paths have more incentive to stay at their current company. Have regular one on one meetings discussing individual development plans with your team members. Advise your best employees to take part in career-boosting programs and encourage them to take on the right responsibilities that will help them develop skills needed in their next potential assignment. Additionally, lack of interesting career opportunities can make your employees want to look for more exciting and demanding job with a different employer, therefore actively advertise internal job openings, so that your employees know they have a chance to grow within your organization.
Chances are your best employees already received offers from your competitors and external recruiters. With the help of these six tips you will be able to poach proof your team and retain your best talent.
About The Author
Sophia Beirne is an avid blogger, specializing in career and HR topics. She is also a project manager and content creator at Spacer, a company helping you find storage in Melbourne when you need it. Whenever not writing, Sophia can be found either jogging, or spending time with her family.