Great employees will bring value to your company and will keep customers coming back for more. These types of assets are important to keep around, but how? Business Registration Hong Kong recommends starting at home with your team.
The first step to retention is to evaluate the team you already have. How can you improve the quality of new hires? Who are your all-stars that you want to keep around? How can you further develop those who aren’t quite hitting the mark? Being able to answer these questions will set up the whole process.
Start off the evaluation process with those who are underperforming. Assess whether the job is the wrong fit for them, whether the company culture isn’t right for them, or if they aren’t clear on the requirements and expectations of the job. Be sure to provide specific feedback, goals, and objectives along the way. If this has all been completed and the employee is still underperforming, let the person go. Sometimes jobs just don’t fit well with certain people, and now you’ve freed them to find a job more suited for them.
To improve the quality of new hires, implement a team recruitment strategy. Figure out what roles you need filled in the team, and involve those who will be working with the new recruit in the interviewing and hiring process. This can be done in the following three ways:
Employee as agent
This type of setup offers some sort of monetary incentive to current employees who help successfully recruit new team-members. This is particularly successful because current employees have a first-hand understanding of how teams work, what each role does, and what the company culture is like. Being an employee as agent gives the employee added value because they feel that their opinion matters. It also reduces the company’s reliance on external recruiting sources, saving both time and money.
Employee as contributing evaluator
This type of team-based recruiting invites current employees to weigh in on the interview process. They give their opinions of possible recruits and give insight on how these potential candidates will fit in with the team. This gives current employees a more substantial say in the company, more value from inclusion, and fosters positive working relationships.
Employee as sponsor
Employee sponsorship helps reduce stress on new recruits by giving them a go-to person who can answer any questions they might have, provide guidance, and offer additional training outside of orientation. This improves the way the company is seen by new recruits, and how new recruits are seen by current employees. It fosters positive working relationships between all employees, as well as strengthens the bond and productivity of a team from day one.
Whatever method you choose, employee retention is one of the easiest ways to keep your business ahead of the competition. Keep your team happy by including them in the hiring process and watch productivity soar. For more information on how to improve your business, how to get started, and more, visit Business Registration Hong Kong.
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