Progress, evolution, change are words that come up often in talks about the efficiency and growth of any company. But there is another word that should appear among them: retention, literally speaking, “maintenance”. In this case, we are talking about Employee Retention, or a company’s ability to attract talented employees and keep them over the long term.

Companies that demonstrate good Employee Retention become more appealing to new collaborators, and keep being stimulating for long-time collaborators.

A good Employee Retention strategy is based on ten fundamental points:

1- Intelligent hiring: it is important, first of all, to hire capable collaborators who share the same goals and values as the company. Ensuring that the onboarding runs smoothly is also important, because an strong synergy right from the start is the basis of a long-lasting relationship.

2- Communication and feedback: keeping communication with all collaborators open is fundamental for both parties. New business ideas emerge for the company, and a more relaxed and comfortable atmosphere is created for the individual.

3- Training and possibility for growth: incentivising updates and training of employees is fundamental because “what the eyes see is what the mind is prepared to understand”. In this sense, training one’s collaborators at best enables them to look out for chances for personal growth and company innovation, and keeps them interested in their job.

4- Adequate pay and benefits: as we wrote in the article on EVP, good pay is not the only thing that keeps collaborators at a company. Benefits, such as insurance, number of days off, bonuses, seniority benefits, etc. are often considered more important.

5- Welcoming and comfortable workplace: workers love being in a pleasant and functional environment. This description is to be read on two levels: the physical level firstly, requiring that the workplace is always well ventilated, illuminated and comfortable, and secondly, having the same characteristics in terms of culture and value structure of the company.

6- Balance between work and private life: in a very dynamic environment requiring great physical and mental presence, burnout is right around the corner. It is therefore important that each worker be able dedicate time to family and personal matters when needed without feeling that he is neglecting his job at all.

7- Mentorship programmes: letting new collaborators work with more senior employees at the company is a very good way to get new employees involved and to stimulate workers who have become accustomed to the rhythms of the company. The return is twofold, as the new collaborator learns from the employee who has been there longer, and the latter can benefit from some fresh ideas and the viewpoint of an “outsider” to analyse and, if need be, to revise his or her method of work.

8- Ongoing information: smaller and more significant changes occur at every company. In both cases, it is important to get all collaborators involved and keep them up-to-date on how everything should be done to make them feel as though they are an integral part of the staff, regardless of their position.

9- Team working: when people work in a group, they can obtain better results than when they work on their own. Listening to everyone’s ideas and working in a team enables each collaborator to feel important and will drive him or her to play a more active role in company business.

10- Recognition: the last, but perhaps the most important point. Every collaborator spends time and energy on his or her job, and does so more willingly if someone recognise his or her value and tells him or her spontaneously and directly.

When a collaborator leaves a company, everyone notices it. It has been demonstrated that nearby colleagues will start to wonder if they, too, should find another job. In the same manner, if a new collaborator finds out that someone has been working at the same company for a long time, he or she feels a sense of security and tranquillity, reassuring the new arrival about the start of a new working adventure. For this reason, Employee Retention should be one of the priorities of any company.