Why Companies Lose Top Talent and How to Break the Cycle in Your Office

If you’re choosing to spend two minutes of your busy day reading recruitment tips, you probably already know why it’s so important. Top talent is more productive and engaged, which in turn creates a bigger bottom line for your company. Engaged employees also contribute to higher customer satisfaction.

If companies know that top talent is vital to success, then the big question is:

Why are companies losing talent?

Luckily, LinkedIn conducted a study to answer exactly that. Their findings revealed that the #1 reason employees change jobs is due to lack of career advancement opportunities where they are. The #2 reason people leave is better pay.

On a more specific note, women are more likely than men to leave due to dissatisfaction with upper-level leadership, company culture, or work/life balance. Armed with a few ideas of why the majority of job-changers move, you can now ask:

What can you do to recruit and retain the best talent in your office?

Create strong messaging. Highlight the features employees are looking for – career advancement, competitive pay, great leadership, positive culture, and work/life balance. Job descriptions in listings should be compelling and attractive.

Use social media. Young talent has begun utilizing social media during their job search, especially LinkedIn and Facebook. They often want a gauge on company reputation and what it’s really like to work there. Be sure to highlight employees’ experiences and workplace culture on company socials.

Establish brand ambassadors. The #1 way people hear about new jobs is via referrals (LinkedIn). Make current employees brand ambassadors who post testimonials and company experiences on their personal social media pages. In addition, they can carry recruitment cards to distribute to their network.

Offer unique benefits. Employee appreciation is key to engagement and retention.  Top talent will go where they feel wanted and get the most benefits. Perks as small as free snacks at the office, shopping discounts, or streaming subscriptions can be game changers.

Emphasize inclusivity. Diversity is more important to potential hires and business success than ever. Numerous studies indicate that highly diverse and inclusive workplaces experience more financial success and employee engagement than less-diverse competitors. Inclusivity is a key component to the positive company culture that many job-changers are looking for.

Understand their expectations. The most important thing to remember when recruiting is to follow through with any promises you make. Communicate with new hires to understand what their expectations are regarding workplace environment, diversity efforts, and more. If an employee feels a promise was left unmet, their disappointment may drive them away.

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