How do you promote your talent retention practices?

Talent retention is a key aspect of talent management, as it helps you keep your best employees, reduce turnover costs, and maintain a competitive edge. However, retaining talent is not just about offering competitive salaries, benefits, and perks. It also requires promoting your talent retention practices, both internally and externally, to create a positive employer brand, engage your employees, and attract new talent. In this article, we will discuss some ways to promote your talent retention practices and why they matter.

1 Communicate your retention strategy

One of the first steps to promote your talent retention practices is to communicate your retention strategy clearly and consistently to your employees and potential candidates. Your retention strategy should outline your goals, values, and policies regarding talent development, recognition, feedback, career progression, diversity, and inclusion. You should also explain how your retention strategy aligns with your organizational vision, mission, and culture. By communicating your retention strategy, you can show your employees and candidates that you value their contributions, care about their growth, and support their aspirations.

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Divyanjali S

Recruiting Lead | Certified DEI & LinkedIn Recruiter | Web: upgradingtalent.in
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Invest in professional development, such as training, coaching, mentoring, career paths, etc. This can help attract and retain talent who value learning and advancement. Empowering employees, such as delegating tasks, empowering decision-making, allowing risk-taking and experimentation, etc. This can help attract and retain talent who value challenge and independence. Celebrating their achievements, such as giving praise, rewards, incentives, or recognition for their contributions and performance. Providing flexible work arrangements, such as working from home, reduced workdays, or variable schedules.

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2 Showcase your success stories

Another way to promote your talent retention practices is to showcase your success stories, both internally and externally. Success stories are examples of how your employees have benefited from your retention practices, such as receiving recognition, feedback, training, mentoring, promotion, or flexible work arrangements. You can showcase your success stories through various channels, such as newsletters, intranet, social media, blogs, podcasts, videos, or testimonials. By showcasing your success stories, you can highlight the positive outcomes of your retention practices, inspire your employees and candidates, and build trust and credibility.

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3 Solicit and act on feedback

A third way to promote your talent retention practices is to solicit and act on feedback from your employees and candidates. Feedback is a vital source of information that can help you assess the effectiveness of your retention practices, identify the strengths and weaknesses, and make improvements. You can solicit feedback through various methods, such as surveys, polls, focus groups, interviews, or suggestion boxes. You should also act on the feedback by acknowledging it, analyzing it, and implementing changes. By soliciting and acting on feedback, you can demonstrate your commitment to continuous improvement, involve your employees and candidates in the process, and enhance your retention practices.

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Ankita Krishnan, MBA, CIA®

Senior Internal Auditor at Crowe Australasia
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Another channel for soliciting feedback is through exit interviews of separating employees. It is important to have an exit interview for every employee who is leaving the organization to understand the underlying reasons. It can be in the form of a well-structured questionnaire or even an in-person meeting with the HR dept. The results should be captured in the HRMS and analyzed on a periodic basis so that enhanced retention strategies can be implemented.

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4 Celebrate and reward your talent

A fourth way to promote your talent retention practices is to celebrate and reward your talent for their achievements, efforts, and loyalty. Celebrating and rewarding your talent can boost their morale, motivation, and satisfaction, as well as reinforce your recognition culture. You can celebrate and reward your talent through various means, such as public praise, awards, bonuses, gifts, or events. You should also tailor your celebration and reward methods to suit the preferences and needs of your talent. By celebrating and rewarding your talent, you can show your appreciation, encourage their performance, and foster their retention.

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5 Involve your talent in your employer brand

A fifth way to promote your talent retention practices is to involve your talent in your employer brand. Your employer brand is the reputation and image of your organization as an employer, and it can influence your ability to attract and retain talent. You can involve your talent in your employer brand by encouraging them to share their experiences, opinions, and stories on various platforms, such as social media, blogs, podcasts, videos, or referrals. You can also provide them with guidelines, tools, and incentives to help them become your brand ambassadors. By involving your talent in your employer brand, you can leverage their voice, authenticity, and influence to showcase your retention practices and attract new talent.

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6 Benchmark and update your retention practices

A sixth way to promote your talent retention practices is to benchmark and update your retention practices regularly. Benchmarking is the process of comparing your retention practices with those of other organizations in your industry, sector, or region, and identifying the best practices and gaps. Updating is the process of adapting your retention practices to the changing needs, expectations, and trends of your talent and the market. By benchmarking and updating your retention practices, you can ensure that they are relevant, competitive, and effective, as well as communicate your innovation and responsiveness to your talent and candidates.

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Ankita Krishnan, MBA, CIA®

Senior Internal Auditor at Crowe Australasia
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In addition to benchmarking, Human resources department should also calculate and analyze metrices such as: - Average service period of an employee - Number of terminations during a period - Number of resignations during a period - Number of promotions, salary raises etc. during a period

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Ankita Krishnan, MBA, CIA®

Senior Internal Auditor at Crowe Australasia
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While rewarding talents, organizations should also consider implementing corrective actions for employees who are poor performers. It is important to equally take action on poor performers just like rewarding good performers. Otherwise, it can deplete morale of the good performers who are often overworked while keeping the poor performers idle.

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How do you promote your talent retention practices?

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1 Communicate your retention strategy

2 Showcase your success stories

3 Solicit and act on feedback

4 Celebrate and reward your talent

5 Involve your talent in your employer brand

6 Benchmark and update your retention practices

7 Here’s what else to consider

Talent Management

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