3 talent retention strategies to implement now

Human capital is one of the most precious assets for any organization, after all, companies are made of people and their ideas. Therefore, working with talent retention strategies should be a priority for Human Resources sectors, in order to ensure that there will be satisfaction, low turnover and commitment from the teams. 

Throughout this article you will learn three of the most important and effective talent retention strategies to put into practice in your organisation right now. You will learn about:

• what are talent retention strategies;
• importance of a true feedback culture;
• implementation of a flexible benefits system;
• creation of a job and salary plan. 

What are talent retention strategies?

Talent retention strategies are a set of practices and actions aimed at making the employee remain for as long as possible within the organisation, always satisfied, engaged and motivated by the company's values and objectives. 

The fact is that by applying this type of initiative, companies have everything to gain. The best professionals in the market only stay in organisations where they feel encouraged. This is the way to make people feel part of a whole. 

Businesses of any size can draw on good strategies like this, and below Alymente introduces you to three of them. 

1. implementation of a feedback culture

The existence of a strong and true feedback culture is a primordial part of any employee retention initiative. It is very important to create periodic checkpoints and meetings between leaders and those they lead to evaluate performance and provide guidance on what the next steps should be in search of greater professional development. 

These feedbacks should be designed for technical and behavioural assessment, a mix of soft skills with hard skills, quantitative and qualitative. The employee should leave this meeting with the feeling that he knows what he should do from now on. 

Companies that offer this type of dynamic tend to have much higher employee satisfaction and low turnover. 

2. Offer flexible benefits

Extending the benefits offer has the effect of retaining talent in a team. A survey conducted by job posting company Indeed in partnership with research firm Censuwide found that for 46% of people, the benefits of a job are decisive and one of the most important factors when it comes to accepting or not an offer. 

However, with so many different profiles of people applying for a variety of job vacancies all the time, it's a challenge for companies to create a benefits basket that fully fits. To solve this kind of dilemma, there are flexible benefits. 

Flexible benefits allow employees to choose what to spend the balance offered by the company, with the possibility of using it in the most diverse spheres, such as food, health, transport and education.

3. Create a job and salary plan

Also according to Indeed's survey in partnership with Censuwide, having the possibility to progress in a company is also a decisive factor for about 55% of people. 

From the moment you develop a job and salary track that allows employees to reach higher positions through stipulated and clear goals, always followed up in feedback meetings, you are putting into practice one of the talent retention strategies. 

Knowing where they can get to and what path must be taken to reach that goal, people feel more motivated and inspired to follow through.

Implementing talent retention strategies takes planning and time, but it's an activity that should be at the top of your HR department's priority list. If you're interested in this article, read also 6 indicators of success for your company's daily routine.