The Most Effective Employee Retention Strategies

With the aftershocks of the Great Resignation still in play, many organizations have struggled to replace those lost workers. As worker wants and desires change, we’ll continue to see a shuffling as potential employees flock to places that can meet those desires. Smart organizations need a retention plan to keep their best employees engaged, satisfied, and willing to stay with the company.

Training a new employee can be an expensive affair—roughly twice their salary according to Visier. While you can’t prevent all employees from seeking greener pastures, creating a work culture people want to be a part of can limit the risk and help keep your best employees around. Embrace these modern strategies to encourage your top talent to stick around!

Have a good hiring process

Keeping your employees around starts before they even become your employees. Your hiring process sets the tone for the employee’s future with you, so the more transparent and accurate it is, the better.

Visier says to start with an accurate job preview and clear employee expectations. This means being honest about your culture and your potential employee’s role. Not every work environment and employee work style complement each other, and that’s okay. But if you’re dishonest, you’re setting yourself up for a messy breakup down the road.

A good onboarding process is likewise important to set the tone for a new hire’s early days.

Create a culture of value

Ultimately, an employee wants to feel like they fit in with the organization and that they matter to the parent company. A Pew study found that while low pay was the main reason people left their jobs (63% of respondents), feeling disrespected was a close second. 57% of respondents cited disrespect as a reason they left their job, with 35% claiming it was a primary reason.

“Your company likely has clear values and ideals in the handbook. Do you work on them to create a company that makes your employees proud? Maybe your company values equality, charitable acts or protecting the environment. Demonstrate those values through the work you do.” –Indeed

Take a deep look at your culture and how it treats its employees. Do your day-to-day operations align with the company mission statement? Are you recognizing employees for their accomplishments? This self-scouting is vital when asking why employees are leaving.

Focus on work-life balance

To create that culture, the work-life balance needs to not only be respected but prioritized. Pew found that 40% of respondents quit their job due to burnout—often caused by a lack of work-life balance. Combating burnout is an important step in maintaining employees.

Forbes’ Chauncey Crail lists remote work, flexible scheduling, and a reduced workweek as ways the modern organization can foster a healthy work-life balance. We’ve talked at length about how rejuvenating spirit that comes with remote work and how it can lead to better productivity. If you fear these concessions will be bad for your business, not only is that incorrect but you’ll be left in the dust as your competitors evolve.

Offer competitive benefits and invest in careers

Of course, even the happiest employees want to be paid what they are worth—no one is going to work for free.

The cost of living is high and grows at an exponential rate, and at the bare minimum, a company needs to keep up. But that’s not the only way to stay competitive. Ellie Taylor writes that as an employee takes on new roles and projects, they should be compensated for it. Taylor also adds that beyond base pay, retention bonuses, sales commissions, and additional bonuses after big projects will keep employees invested.

In addition to financial investment, investing in an employee’s career growth will keep them around. LinkedIn found that 94% of respondents would stay with a company longer if it assisted with their career growth. Emeritus lists mentorship programs and educational courses as ways to do so. We live in a skill-based career culture, and helping your employees gain the skills they need for a long and rewarding career will create skilled employees that can better help your organization.

“Today’s workforce wants to know what’s in store for their future and whether they can see themselves working with you long term. Stagnation can lead to disengagement, quiet quitting and eventually, actual quitting so provide your employees with opportunities to expand their skills and grow professionally.” –Lisa Shuster, Forbes

Learn from exit interviews

While these strategies are designed as a catch-all to help any organization, all companies are different and face different challenges. If you find you’re having trouble keeping people around, you need to pay closer attention to your exit interviews. Ellie Taylor mentions that many managers don’t see the workplace dynamic in action, especially if they’re busy. Exit interviews give you a better insight into how the employees view the organization. Taking these concerns seriously can lead to actionable results.

You may even learn what external factors are leading to turnovers. Your company may not be problematic, but if competitors are consistently offering higher salaries or benefits, it will give you something to think about.

Wrap up

Employees want more than money from their careers. They seek value and recognition and want to align with their employer’s vision. Keeping these simple ideas in mind is the core of any good retention strategy. Create a place of work that employees will want to stay with and make sure they’re invested in and rewarded properly and you’ll have an environment your top talent is happy to stay with.

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How To Update Your LinkedIn Page For 2023

With many companies ramping up hiring in January, the beginning of the year is a great time to start or resume a career change. That means it’s an ideal time to update your resume and tweak your documents. But don’t stop there! A well-maintained LinkedIn profile is essential in the modern landscape, so the new year represents a chance to make sure your profile is up-to-date and easy on the eyes.

“When people want to research you in a professional capacity— even people who work down the hall from you—they’ll typically go directly to LinkedIn and type your name in the search box at the top of the screen.” –William Arruda, Forbes

Even if you aren’t looking for a job right now, it’s a good idea to keep your LinkedIn updated. You never know when a new opportunity may come your way, and many believe the country is heading toward a recession. Be prepared for anything the new year may throw your way by taking these steps toward a revamped LinkedIn profile!

Update your headshot

The first thing a recruiter or hiring manager will see on your profile will be your photo. Just like with dating apps, you always want that photo to actually look like you! While you likely aren’t trying to catfish an employer with your looks, it’s still best to have a current professional photo.

If you don’t have a professional photo, now is the time to take one! And even if you have one, it’s never a bad idea to update it with a more current one. Make sure you’re in proper attire for your field and that the photo clearly shows your face.

Aspiration Marketing says to not neglect your background or banner picture, either. This often underutilized spot can highlight you in different ways. Whether it’s a shot of you in action, highlights something you’ve accomplished in your field, or sets the tone you’re trying to portray, you can make this real estate spot work for you and stand out.

Find the right headline

Your photo will be the first thing visitors notice, but your summary section is a close second. Your headline, in particular, will drive your traffic. The correct headline sells exactly who you are, what your skills are, and what you bring to the table. The wrong headline can be vague, meandering, or boring.

Work It Daily’s Jenna Arcand writes that it’s a mistake to only list your name and current job title. You want to optimize your limited space by utilizing the right keywords and highlighting your four or five most valuable skills. This requires some research and a good base of knowledge of the most desirable skills in your field. This will make sure you appear in searches and that recruiters can find you.

“Write for your target audience. For example:

Advertising Sales Rep helping clients create winning branding strategies. Over 300 successful clients.

Just like that you’ve told them your job, what you bring to the table, and provided a little credibility easily and effectively.” –Ken Chase, TopResume

Spruce up the language

While your headline is going to bring in your audience, you want to keep them engaged throughout. That means you should utilize keywords, trim up the word choices on past positions, and highlight the correct accomplishments.

We’ve discussed the importance of tailoring your resume toward the position you seek with keywords, and that advice holds true on LinkedIn as well. If you want to show up in searches, you need the right keywords. And the right keywords will show that you’re clearly capable of doing the job you seek. Make sure to use action verbs and add the accomplishments you’re proud of.

TopResume’s Ken Chase says not to neglect your skills either. Again, look at the most desirable skills for your industry and make sure those skills are visible on your profile, especially in your actual skills section. By tidying up the language of your profile, you’ll appear like a new, even better candidate.

Use engaging media

But text alone won’t get you everywhere. Hiring managers only have so much time to read each profile, and looking at so much text can make the eyes glaze over. Attract their interest and stand out from the crowd by including relevant media!

LinkedIn’s Tequia Burt stresses the importance of finding the right images and videos to stand out from the crowd. Whether you’re a job seeker or a company looking to expand your brand, you can upload native videos directly to your profile as well as your own images. This can be a way to highlight big projects you’ve done or show off some of your creative portfolio.

If you’ve written anything off-site or had your accomplishments highlighted elsewhere, you can directly link the relevant material to your profile to save hiring managers an extra step.

Add some personality

While taking these steps, don’t be afraid to make your profile feel like your profile. That is, make sure to show off your personality.

Resume Worded reminds us that a resume and a LinkedIn profile are different tools. While you still want to be professional, you can afford to take more creative liberties with your LinkedIn profile. Don’t forget, it IS a social media platform. You can feel free to add personal details beyond work, directly tell potential employers what you’re looking for, and give them direct ways to contact you.

Wrap up

Having an online presence is essential for the modern job search. Even if you’re a savvy LinkedIn user, chances are, you can make some needed updates to your profile to bring in the new year. Taking these steps now will make job searching and networking easier throughout the rest of the year and set you ahead of the competition!

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Recapping Our Top Five Articles From 2022

In 2022, we started to regain some normalcy after two years heavily influenced by the pandemic. We hope that 2022 was a productive and fruitful year for you and that you continue to find success moving forward. We wish to take the time to thank our readers, the candidates, and the clients we work with daily for your support and for working with us in 2022.

In this time of reflection leading up to 2023, we took some time to review your favorite articles from 2022. Whether you’re starting a job search, looking for a little more value in your career, seeking industry knowledge, or navigating the tricky waters of a career change, these five articles particularly resonated with our audience and have something for everyone!

‘Let Go’ of Your Fear of Being Fired

Within the uncertainty of COVID-19 and detachment felt by many remote working employees, fighting through the fear of being fired is a common anxiety making work much more difficult for employees. Operating under this fear can be detrimental to daily job performance and mental health. It does not discriminate against rank, location, or industry. Similar to stress (and often inducing stress), fear drives us to a poor work-life balance and career burnout.

The first step towards seeing change is acknowledging your thoughts and accepting that they are not your reality. Initially revealed by Susie Moore, we break down five specific reasons you can and should push back against the fear of losing your job. 

Watch Out For These Red Flags On Your Next Job Search

In wake of the Great Resignation, many organizations are rapidly trying to attract talent. It’s a good time to be a job seeker, as experts believe 2022 is a year favoring employees. But while many companies are hiring and job seekers have a plethora of options, not all of those options are good. Navigating the job market can be like walking through a minefield as you try to avoid questionable organizations.

Thankfully, a well-prepared job seeker can avoid these “mines” by recognizing the red flags these organizations put out. Whether in the job description itself or based on statements you hear in an interview, there are telltale signs you’re heading for an unpleasant role. We’ll cover six of these major red flags to avoid during your next job search.

Thought-Provoking Questions To Ask Your Interviewer

Employers take tremendous value in the questions you ask during an interview because they will reveal your level of preparation, engagement, and curiosity for the position. Quit focusing on yourself and how your personal needs will be addressed in the role. Instead, ask stimulating questions to produce a quality conversation that reveals you are invested in the team’s betterment and showcases your unique value.

Captivate your interviewer and position yourself as the ideal candidate by asking these five questions:

Understanding And Overcoming Ghosting In Your Job Search

The dating world is scary enough as is, and that’s before considering the potential ‘ghosting’ that can occur. Ghosting, a phenomenon where a prospective partner ceases all communication, is common in dating. Another, more promising option will come along, some circumstances will take up a person’s time, or the person may simply resolve it’s better to disappear than have a difficult conversation.

While frustrating enough in the dating world, thanks to the sheer amount of potential applicants and the ease of using technology over face-to-face communication, ghosting has become extremely common in the hiring stratosphere as well. You may have a phone screening or even an interview and never hear from the company again. Recruiters may find a promising candidate, help them along their hiring process, and then get left on read.

We’ll examine the data behind ghosting, look at why ghosting happens, and provide job seekers will some ghostbusting strategies.

Assessing The Mortgage Industry: Top Trends & Statistics

Is the U.S. housing market overheating? Within the stability of low mortgage rates and high buyer contention, the housing market continues to be highly competitive. While it is a great time to be in the market for a loan, borrowers don’t quite have their ‘pick of the litter’ like in times past. Home prices continue to rise, as does the volume of offers placed on each listing. 

“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” – Joel Kan, MBA Economist.

After assessing various expert opinions, knowledge, and studies, we have constructed the ultimate guide to the latest Mortgage industry trends and statistics entering 2022. Courtesy of the industry professionals with The Mortgage Banker’s Association, Fannie Mae, Forbes, Wall Street Journal, Bankrate, The Motley Fool, TIME Magazine, & more!

Wrap up

As always, we’d like to thank all of you for your support in 2022! If you’ve missed out on any of these career tips, we hope you take the time to review them today!

Don’t hesitate to let us know what kind of articles were your favorite and what you would like to see from our content team in 2023!

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Career Lessons From The 2022 World Cup

The World Cup is the largest global event in the sporting world, and every four years, millions watch to see how their country fares against the best competition on the planet. Argentina, led by the legendary Lionel Messi, took the FIFA World Cup Trophy home this year.

Argentina showed how to excel on the world’s biggest stage, but you don’t need to be a pro athlete to find some valuable takeaways for your own career. If you’re looking to achieve new career goals, take these lessons from the pros and become a champion in your chosen field!

Lead by example

Whether you’re a star player, team captain, manager, or leading a project, leadership is important. And the best leaders are those that lift up their team and lead by example.

LinkedIn’s Aaron Toumazou shared 10 career lessons learned from superstar Lionel Messi. Messi’s leadership works because he himself follows every lesson he instills in his team. Messi sets a high standard and constantly works to improve himself while always holding himself accountable. He also constantly exudes confidence to create a culture of it.

By showing his team he’s willing to put in the work and create a culture of winning, he fosters a sense of community and positivity in the locker room. His teammates know they can rely on him. We may not play the same game, but we can all learn from Messi’s leadership.

Teamwork is key

In any sport, even if you have a superstar, you can’t achieve success alone. Even solo sport athletes need coaches and other allies. To be the best, you need to learn how to put your ego aside and be a team player.

Team foundit reminds us that every member of a team has a different skill set, and those skills must work in harmony for the success of the team. Messi might be one of the greatest athletes in sports, but he can’t do everything alone. In business, we all have strengths and weaknesses, and a good team player will know how to work with others for the success of the project.

“When working on a team project, involve each member as much as possible, and get their help when needed.” –Team foundit

Refine your strategy

In a game of Xs and Os, your strategy and scheme must evolve to stay on top of the game and to compete at a high level. Even if you aren’t in direct competition, it always pays to take time to evaluate your process and see what you can do better.

Online Manipal’s Editorial Team shows that Spain has been disappointing in recent seasons thanks to their reliance on a short pass technique. This was a big reason the team had an early exit in 2022. By refusing to adapt as needed, a team is doomed to poor results.

Make growth a priority by constantly reviewing your performance with regular feedback. assessments, and performance reviews. Even teams that are consistently winning know to keep evolving.

Don’t throw in the towel early

There’s a reason sports games are played out and don’t end early for “mercy” rules. Recently in the NFL, the Minnesota Vikings were down 33-0 at halftime to the Indianapolis Colts. But the team rallied and came back with a thrilling 39-36 victory in overtime, the largest comeback in NFL history. Just because you don’t find early results doesn’t mean they won’t come, and perseverance is one of the most crucial keys to success.

Career coach Mei Phing stressed that the most important part of starting a new career is in the first 90 days when you can learn about company culture and practices. You might fail in those early days, but it’s a valuable time for growth, and you’ll be impressed with how far you can go if you keep working.

Make the most out of bad calls

In sports, there can only be one winning team. Even most hopefuls usually go home in defeat. Sometimes that defeat is due to outside sources you could never have prepared for or predicted. But there are lessons to be learned in defeat, and we can use those lessons to come back stronger.

Liquid Planner mentions lousy calls by the refs and unfortunate injuries as things that happen to every team. Even the most well-prepared teams can’t prevent those. In our own lives, we’ll always face setbacks and failure. But the best teams are those that can grow and adapt, and you can emulate this in your own work. Try to find a silver lining or a lesson and incorporate it moving forward.

“Flexibility in the face of change and resilience in the face of confusion are non-negotiable. Push through the discomfort and prepare yourself for anything.” –Liquid Planner

Wrap up

The World Cup is one of the most widely-celebrated events in sports and brings so many people together. But beyond the obvious entertainment, we can learn valuable lessons from the best of the best that we can incorporate into our own life. Our jobs might be wildly different from our favorite players, but their mindsets are worth emulating in any career!

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Conducting A SWOT Analysis To Find The Right Career

Only you can decide the right career path for yourself, but there are a myriad of tools available to help you self-evaluate and guide yourself to the best decision. Whether you’re a fresh graduate, a former athlete entering the workforce, or an experienced professional seeking a new path, there are tools to help you find the right path.

One of these valuable tools is the SWOT analysis. This strategic planning technique is used to identify Strengths, Weaknesses, Opportunities, and Threats. SWOT is used in many industries to make important decisions, and you can adapt it to your personal needs to paint the path to a truly rewarding career! We’ll analyze each letter and how you can conduct a rewarding analysis for yourself!

Strengths

Strength is what it sounds like on the tin—what are you good at? This is where you can kick modesty to the curb and really hype yourself up. What sets you apart from others? If you do have trouble celebrating your own accomplishments, don’t hesitate to ask for feedback. Your inner circle might see things in a different light.

Job Hunt’s Don Goodman suggests the start with the strengths you have, especially ones you particularly enjoy, and then relating them to demand in the marketplace. Modern job descriptions commonly list the skills needed to thrive in that position, giving you an easy way to see what is in demand.

Look at the experiences you’ve had and categorize your skills into hard and soft categories. Many of these skills will be transferable in many industries, but this should overall position you towards finding industries suited to your personal strengths.

Weaknesses

While it’s easier to hype ourselves up, it can be challenging to name our weaknesses. But knowing what your weaknesses are is crucial in learning to overcome them or to know what career paths you may not be suited to. Again, be honest with yourself!

Comparison is the thief of joy, but Forbes’ Trinity Aikens believes comparing yourself to your peers in this case can answer some tough questions. What do you struggle with compared to your peers, or what takes you much longer than your peers is a good way to gauge if something is a weakness.

“Do other people see weaknesses that you don’t see? Do co-workers consistently outperform you in key areas? Be realistic – it’s best to face any unpleasant truths as soon as possible.” –Mind Tools

Opportunities

When you know your strengths and weaknesses, you can apply them to the grand scheme of things. What opportunities are out there for someone with your strengths and weaknesses? Indeed views opportunities as the external options available to you.

When you look at the things you excel at, what career opportunities come to mind? Is there a niche that you can fill? Because you took the time to list out your skills, new ideas you hadn’t considered previously may manifest.

Consider how technology keeps evolving and creating new opportunities. My position writing weekly blog posts catering to job seekers wouldn’t have been something fathomable in my childhood. Always be willing to reevaluate the current market to look for new and emerging trends.

“Like the people, mostly women, who were excellent typists in the 1990s saw the need for typing skills disappear as computers and word processing software became much more common and reliable, look at where the demand for your strengths may be increasing.” –Don Goodman

Threats

The inverse to opportunities, what outside circumstances could hamper your ability to seek out these new opportunities? The nagging voice in your head telling you what could go wrong is annoying, but in this case, hear it out and write what comes to mind.

Is there anything that could keep this potential career path from being viable in the near future? Look at things like the strength of the market, the amount of competition, and the necessity of the niche. Monster’s Dawn Papandrea suggests researching potential threats or trends you may need to contend with so you can start countering them.

“Moving outside your comfort zone will keep you from simply reinforcing your existing beliefs. Be unflinching in revealing faults and weaknesses, but also in celebrating your personal strengths.” –Marci Martin

Wrap up

With the list done, you can create a plan of action based on your data and begin the journey to career happiness. Remember to be honest with yourself during this process. The personal SWOT analysis is meant to answer questions about yourself and guide you to a promised career. You aren’t trying to impress anyone, and you won’t get the results you seek unless you’re truly introspective. Don’t be afraid to get feedback if necessary. With luck, the results of this analysis will paint a clearer picture and steer you toward the career you deserve.

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