<div class="tldr">
<h2>Key Takeaways</h2>
<ul>
<li>Employee retention is essential to keep top talent and reduce costly turnover.</li>
<li>Recruit candidates who are not only skilled but also fit your company culture.</li>
<li>Invest in modern technology to engage and support younger generations in the workforce.</li>
<li>Offer flexible work arrangements to meet employees' expectations and improve satisfaction.</li>
</ul>
</div>
<h2>What Is Employee Retention?</h2>
<p>Employee retention is the ability of an organisation to keep talented employees from leaving the company. Strong employee retention strategies focus on engagement, career growth, workplace culture, and competitive compensation to reduce turnover.</p>
<p>Employee retention refers to the strategies organisations use to keep skilled employees engaged, satisfied, and committed to staying with the company long-term. Effective employee retention strategies help businesses reduce turnover, protect institutional knowledge, and maintain a productive workforce.</p>
<p>In a recent SHRM survey, 83% of the respondents said they've had difficulty in recruiting suitable candidates for their job openings in the past 12 months.<br><br><img src="https://www.ismartrecruit.com/upload/blog/shrm_survey_employee_retention.png" alt="employee retention statistics SHRM survey" width="1260" height="750"></p>
<p><a id="docs-internal-guid-906ecde6-7fff-b5b5-4a7a-b1398924e43c" href="https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Documents/SHRM Skills Gap 2019.pdf" target="_blank" rel="nofollow noopener">Image Source</a></p>
<p>This talent shortage underscores the fact that when you find top talent, you have to do everything in your power to keep them. Of course, this is easier said than done, especially since the <a href="https://hbr.org/2010/05/how-to-keep-your-top-talent" target="_blank" rel="noopener">employee retention numbers</a> aren't exactly working in your favour:</p>
<ul>
<li>25% of employees are planning to leave their jobs within the year</li>
<li>33% of high-potential employees admit to not being fully engaged in their work</li>
<li>There's a 10% to 20% increase in the number of workers who "ghost" their employers</li>
<li>The cost of replacing an individual employee can be up to two times the employee's annual salary</li>
</ul>
<p>So, how do you make your top employees stay? </p>
<h2>10 Employee Retention Strategies to Keep Top Talent</h2>
<h3><strong>1. Recruit to Retain</strong></h3>
<p>HR leaders need to understand that the retention strategy of workers starts with a <a href="https://www.ismartrecruit.com/blog-recruitment-process-guide-for-recruiters">strong recruitment process</a>. "Retention begins from the beginning, from the request process to screening applicants to deciding who to interview," describes Infrastructure CEO, Dan Pickett. This begins by defining the facets of the culture and philosophy you want to highlight, and then looking for those in your candidates.</p>
<p>Hiring candidates with the skills to do the job well, and who are also aligned with your organisation's values, culture, and ways of working, increases your employee retention rate.</p>
<p>This is why it comes as no surprise that HR leaders and recruitment experts are using new <a title="Recruitment strategies" href="https://www.ismartrecruit.com/blog-best-recruiting-strategies-for-recruiters"><strong>recruitment strategies</strong></a> and technologies, such as <a href="https://www.ismartrecruit.com/blog-talent-acquisition-software-guide-for-recruiters">Talent Acquisition Software</a>, that are not only capable of doing the job but also fit well with their organisations.</p>
<h3><strong>2. Invest in Technology to Boost Engagement and Productivity</strong></h3>
<p>Speaking of artificial intelligence, workplace technology plays a crucial role in retaining top talent. This is especially important because Millennials and Gen Z are expected to dominate the workforce in the next few years. By 2026, Millennials and Gen Z are expected to make up 75% of the total workforce.<br><br><a href="https://learn.g2.com/recruiting-millennials-gen-z" target="_blank" rel="noopener"><img src="https://www.ismartrecruit.com/upload/blog/Invest_in_Technology_to_Boost_Engagement_and_Productivity.jpg" alt="Different Generations on the workplace" width="1260" height="750"></a></p>
<p>There is no doubt that <a href="https://www.ismartrecruit.com/blog-talent-acquisition-software-guide-for-recruiters">Talent Acquisition Technology</a> will play a crucial role in attracting and retaining this young talent, especially Gen Z, " explained Business Woman's Guide author Laura Gayle. "Millennials love their technology, but Gen Z has brought their love of technology to whole new heights, explained Business Woman's Guide author Laura Gayle. These are the first true digital natives because without the Internet, they can not recall a time, and many were brought up in the IoT era. Gen Zers are rarely seen without their smartphones or wired systems - software is their "go-to" solution immediately.</p>
<p>Tech-savvy talent naturally gravitates toward tech-savvy companies. Organisations need to make a conscious effort to modernise their offices.</p>
<p>Digitally transforming your workplace can be overwhelming, though, both in terms of effort and financial investment. Fortunately, you can start with baby steps and make sure you have the basics covered, prioritising the following:</p>
<ul>
<li><a href="https://folksrh.com/en/hr-management-software/" target="_blank" rel="noopener">Human resource management systems</a> for recruiting and workforce management</li>
<li>Productivity systems, such as <a href="https://www.ontheclock.com/Time-Management-System-for-Employee-Tracking.aspx" target="_blank" rel="noopener">office time clock software</a></li>
<li>Employee engagement systems such as self-service portals, feedback platforms, and cloud-based training resources</li>
</ul>
<h3><strong>3. Create Flexible Work Arrangements</strong></h3>
<p>A survey by the online job site FlexJobs revealed that one-third of employees reported leaving a company because it didn't offer <a title="flexible work options" href="https://www.ismartrecruit.com/careers"><strong>flexible work options</strong></a>.<br><br><img src="https://www.ismartrecruit.com/upload/blog/flexible_work_options_stats_img.jpg" alt="flexible work arrangements improve employee retention" width="1260" height="750"></p>
<p><a id="docs-internal-guid-bd49e59b-7fff-f6c3-0473-70bd68ca5bfc" href="https://www.flexjobs.com/blog/post/survey-flexible-work-job-choices/" target="_blank" rel="nofollow noopener">Image Source</a></p>
<p>Sara Sutton, CEO of FlexJobs, explains: "In a tight labour market, employers can not afford to disregard the importance workers place on flexible job opportunities, but the very real bottom-line effect of flexibility on the efficiency and retention levels of their workers can't be ignored either. The competitive labour market is very strong at the moment, and flexible work-seekers often feel encouraged to search for jobs that are more aligned with their lives."</p>
<p>In the past, a flexible work arrangement was a nice-to-have: a rare benefit offered by a few companies. Today, it's an expectation that a majority of employees have, and an important <a href="https://www.jobillico.com/blog/en/how-can-you-make-your-employees-happier/" target="_blank" rel="nofollow noopener">employee engagement strategy</a> if companies want to be competitive in retaining top talent.</p>
<p>This brings the discussion back to technology. One of the prerequisites of having the ability to offer <a href="https://tivazo.com/blogs/flexible-work-2025-trends/" target="_blank" rel="noopener">flexible work</a> is having the technology to enable employees to do their work efficiently wherever they are while still being able to track their productivity. The technology eliminates the need for employees to work 100% of the time in your physical office because you can create a "virtual workplace" where communication, collaboration, accountability, and high productivity can still happen.</p>
<h3><strong>4. Take Ambitions Seriously</strong></h3>
<p>While some employees are okay with slow and steady career growth, talented employees know what they can bring to the table. They're ambitious, and they join organisations where they see clear paths for advancement.</p>
<p>Make sure that you pave the way for top talent to progress in your organisation. Care about their ambitions. Recognise their career aspirations, assure them that they can fulfil their ambitions in your company, and take concrete steps to back up your promises.</p>
<p>One way you can support their career development is through job relocation, which allows them an opportunity to enhance their professional knowledge, expand their connections and for personal growth. But in order for the employee relocation to be successful, you need to consider their needs and concerns, which, <a href="https://arcrelocation.com/employee-relocation/" target="_blank" rel="noopener">according to ARCrelocation</a>, involve assistance in transportation, finding long or short-term housing and more.</p>
<h3><strong>5. Use Time-Tested Employee Retention Practices</strong></h3>
<p>You don't always have to reinvent the wheel. You can take tried-and-tested best practices and make some tweaks to suit your evolving needs.</p>
<p>For instance, it's common practice for employees who resigned to undergo exit interviews. However, it's not so common to hear top-performing employees who are invited by an organisation's leaders for a "<a href="https://www.inc.com/ilan-mochari/stay-interviews.html" target="_blank" rel="noopener">stay interview.</a>" A stay interview is basically a meeting with a valued employee and the leaders of the organisation to know what would make that employee keep working in the company.</p>
<h3 dir="ltr">6. Create an appealing remuneration package</h3>
<p dir="ltr">An appealing remuneration package in terms of compensation, salary, rewards, health insurance like <a href="https://www.taylorbenefitsinsurance.com/group-health-insurance-plans/" target="_blank" rel="noopener"><span data-olk-copy-source="MessageBody">great health plans for groups</span></a>, retirement plans, and so on, can put your organisation in front of its competitors. Foster a remuneration plan that keeps the top ability to monitor labour costs.</p>
<h3 dir="ltr"> 7. Quarterly Reviews</h3>
<p>Quarterly surveys, or assessments, are a significant help. These one-on-one gatherings permit you to lay out objectives and define clear goals and expectations for performance. These conversations should also include asking employees what support they need to achieve those goals.</p>
<h3>8. Give Positive Feedback</h3>
<p dir="ltr">Feedback is fundamental for the employee to feel appreciated at work, and good approval does exactly that. It is critical for the development of both the employees and the organisation. Likewise, an employer or organisation should pay attention to both positive and negative feedback of an employee, and this makes the employees perform better and makes them stay with the company.</p>
<h3 dir="ltr">9. Cultivate Respect in Your Workplace</h3>
<p>Every Organization should give respect to its employees, which naturally encourages loyalty. This can be exhibited by treating everybody similarly regardless of sexual gender, age, and financial status, which helps the general picture of the brand improve, and makes the employees prefer to remain in the organisation rather than search somewhere else for likely positions.</p>
<h3>10. Offer training programs for Employee Development</h3>
<p dir="ltr">Providing training to employees constantly according to the new technology will not only help upskill your staff but also give them significant abilities which they can apply to their everyday jobs. With proper training modules, one can urge new employees to work better and communicate better.</p>
<h2>Common Causes of Employee Turnover</h2>
<ul>
<li>Lack of career development opportunities</li>
<li>Poor management or leadership</li>
<li>Limited workplace flexibility</li>
<li>Low employee engagement</li>
<li>Uncompetitive salary or benefits</li>
</ul>
<h2>Game Over for High Employee Turnover</h2>
<p><span id="docs-internal-guid-49589365-7fff-918c-db1c-d92aa3493ff7">Every company need the retention of employees. Even if you are doing business or running an organization you must take care of your employees while considering the importance of employee retention. </span>Losing your best employees means losing your most effective problem solvers, your most creative innovators, and your most reliable growth drivers. Not all employees expect just the cash they need to support themselves. Ask for feedback from your employees and know how they think and feel about your organisation and their positions. Try to engage with them and learn more about their needs.</p>
<p>Fortunately, there are concrete steps and employee retention strategies that you can take to prevent your company from experiencing a debilitating talent drain. Combined, the 10 tips outlined above will provide a tangible and significant improvement in your company's employee retention.</p>
<div class="faqs">
<h2>FAQs - Frequently Asked Questions</h2>
<h3>What is employee retention, and why is it important?</h3>
<p>Employee retention is the effort to keep skilled employees committed to your company. It's important because losing top talent can hurt innovation, productivity, and overall business success. iSmartRecruit can help companies attract and keep the right candidates.</p>
<h3>How can technology help improve employee retention?</h3>
<p>Technology, like Talent Acquisition Software, streamlines hiring and engagement processes. It appeals especially to Millennials and Gen Z, who expect modern tools at work. iSmartRecruit offers tech solutions to support these needs and boost retention.</p>
<h3>Why are flexible work arrangements vital for employee retention?</h3>
<p>Flexible work options allow employees to balance work and life better, increasing satisfaction and loyalty. As many now expect such options, companies that offer flexibility stay competitive in retaining top talent, which iSmartRecruit helps facilitate.</p>
<h3>What role does feedback play in keeping employees?</h3>
<p>Regular, positive feedback makes employees feel valued, motivating them to perform well and stay longer. Understanding their ambitions through stay interviews also supports retention efforts, areas where iSmartRecruit recommends strategic implementation.</p>
<h3>How can companies improve employee retention?</h3>
<p>Companies can improve employee retention by offering competitive salaries, flexible work options, career development opportunities, modern workplace technology, and regular feedback to employees.</p>
</div>