When expertly executed, an effective employer brand strategy can make a positive impact on talent attraction, as well as talent retention. Here are five articles curated to help you recruit and retain best-fit talent. Enjoy!
1) How to Reinvent Retention Strategies That Work from Business 2 Community
Retention strategies for talent should be every company’s priority. It’s something that simply cannot slip past your radar. Competition is stiff, the market is actively looking for talented individuals and you have some of them. You have to be on your guard otherwise you’ll quickly watch your top resources slip away leaving behind a huge void in your talent pool.
There are several strategies companies have employed to encourage retention. Some of them include bonus plans, reward programs, training and so on. But if you’re working with a tight budget and still want to hold on to your top talent try these retention strategies.
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Earlier this week, we shared an interview with Lily Cua from Aspire about providing employees meaningful company perks. This is all part of a larger effort to improve the work experience, and thus hopefully give employees the warm and fuzzy feeling that makes them want to stick around (there's more to employee retention, but this is part of it). To continue along with this theme, this week's Talent and HR News Weekly Update features some recent news pieces focused on making sure employees are happy (you may have seen one about a few (very) big tech firms providing a certain benefit to boost female retention...) Enjoy!
1) Kip Tindell: How He Created An Employee-First Culture At The Container Store from Forbes
"I spoke to Kip Tindell, who is currently the Chairman & CEO of The Container Store. He was presented with Ernst & Young’s prestigious Entrepreneur of the Year award in 1991 and is a recipient of the National Retail Federation’s 1998 Innovator of the Year Award. In 2006, along with wife Sharon Tindell (Chief Merchandising Officer) and Garrett Boone (Chairman Emeritus), Tindell was inducted into the Retailing Hall of Fame and he is a 2009 Junior Achievement of Dallas Business Hall of Fame inductee."
As part of my morning routine, I was sifting through emails on my iPhone today when I came across an email from Gap Inc. with the subject line, “Gap is doing more…” I normally delete these sorts of promotional emails, but this subject line was catchy enough to get me to click through. I assumed it was some sort of corporate social responsibility effort, like reusing waste products from the supply chain or partnering with a non-profit. I was pleasantly surprised to find that it had to do with increasing the minimum hourly rate of their employees to $9 in 2014 and to $10 in 2015. As a customer and former employee of the Gap, I applaud the company, and it’s not necessarily because I feel strongly one way or the other about the minimum wage debate. To catch you up to speed on the minimum wage debate, here are a few quick facts:
We now live in a world where consumers are more connected than ever before, and a small customer complaint can go viral. As a result, companies need to be just as connected to not only their customers, but also to their own employees to stay ahead. This is the basis of a book I recently read, “The Connected Company.” A part of the book that really struck me comes from this exerpt:
“Since 1960, services have dominated US employment. Today’s services sector makes up about 80% of the US economy. Services are integrated into everything we buy and use…companies like GE and IBM, which started in manufacturing , have made the transition, and now make the majority of their money in services.”