While filling out vacant positions takes is the main focus when it comes to talent strategies, let's not forget that keeping existing teammates is as important as getting new talent in the door.
Here are 10 employee retention strategies to help you get ahead of your competitors in 2023:
1. Build stronger ties between Corporate and on site employees.
2. Use third party surveys to find out what matter most to your employees and act upon the feedback received.
3. Explain the "Why" for making decisions to those expected to execute-if they understand it, they will buy in easier and amplify your message throughout the organization.
4. Treat every employee like they matter. Because they do.
5. Get to know your employees at personal level.
6. Don't make your teammates choose work when they need to be with their families. Work will always be there the next day. A missed opportunity to be there for their loved ones is missed forever.
7. Build Corporate Support teams to support the onsite teams when they are short staffed or dealing with a workload beyond what they can manage.
8. Focus on being intentional in building your company culture starting with company leaders being walking examples of what that culture should be.
9. Review and adjust employee compensation quarterly. Loyalty is a two way street-if you want employee loyalty, there is a cost associated with that (way lower than losing good employees over money, though).
10. Have well defined career paths within your organization and communicate advancement opportunities efficiently.
What would you add to this list?
#employeeretention #culture #companyculture
Multifamily Chronicles Podcast Host | Real Estate Investor | People Connector | Multi/Single Family Portfolio Maintenance Director