Hiring and retention are as like as two peas, completing each other and if both are operated successfully, they
provide what is needed most: First-class human assets.
If you follow the hiring process well and fill your positions with qualified, hard-working people with right
mentality and culture for your company, then you have a significant advantage over your competitors. However, a
successful hiring creates a new challenge: Keeping your best employees in your company. Superior employees
will attract other companies’ attraction and they will try to woo them away from you by offering higher wage, more
authority and more appealing work situations. This is why you need to watch your back and look at your employment
practices, benefits and compensation to determine if the loyalty between your company and successful employees is
undermining or not.
Many companies; small, large and even the world’s most admired companies, face with this challenge and most of them
are aware that a lack of human talent is a serious constraint on future growth. Therefore, companies take some
precautions in order to retain their most valuable employees from establishing a retention office within the
organization to building work-life balance programs such as change of dressing code to a more
casual clothing, on-site child caring, or setting playground areas at the office.
The war for valuable, talented employees between companies never stops except times of recessions and recessions do
not last forever. You need to calculate the retention rate in your business and check if your employees are truly
happy or not. Studies show that most of the employees are considered as either “high risk” meaning that they are not
committed to their employers and want to leave the organization within two years, or “trapped” meaning that they are
not planning to leave within two years but not committed to the organization. And less amount of employees are
considered as “truly loyal”, committed to the organization and want to stay on for at least two years.
Here we will explain the importance of retention and its challenges offering an insight into why employees
stay and what factors influence them to leave.