Finding and training top talent can be costly and time-consuming, especially for lean startups. Did you know it can cost 33% of an employee’s salary to find a replacement for a team member? Employees today are less concerned with company loyalty and more interested in opportunity, benefits, and feeling appreciated, often moving on to another position for the opportunity to work on an exciting project. While 44% of employees say they are happy in their current role, according to a recent report, 46% of employees would accept another job if the opportunity arose and 50% of millennials would consider another job opportunity even if they weren’t looking to leave.
So how do you retain your top talent? Sure, fresh fruit, spa water, and ping pong tables are great, but to keep them happy, you’re going to need to do even more. Here’s how these seven companies work to make sure their employees are happy and want to stay.
Employees also need to see that they have an opportunity to grow while staying at the company. We ensure that everyone gets career path planning and offer schemes like tuition reimbursement and skills training to allow them to energize their careers to reach their own goals." -Chatelle Lynch, McAfee’s Chief Human Resources Officer
By allowing employees to be flexible and letting them explore what they’re good at and enjoy doing, we find the best position for them within the company. We've found that when people work on things they’re passionate about and can develop their careers, they are not only more successful at their job, but are also more motivated and happier." -Steven Benson, Founder and CEO of Badger Maps