9.10.21

How To Retain Talent

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Two female professionals brainstorming on a whiteboard in an office.

Tips for keeping employees while millions consider job changes.

More than half of the U.S. workforce says they are likely to look for a new job in the next 12 months.[1] The “Great Resignation” is brewing as people consider their personal and professional values and seek jobs with more flexibility. While smart employers have always prioritized employee retention, it’s now more important than ever.

Keeping top talent on your team requires a proactive approach. The Harvard Business Review recommends two key tips: ask more questions to gain insight on employees and create more opportunities to develop employee talents and passions.[2]

Discover what your employees need
Regular one-on-one conversations are the most direct way to learn what your employees need and what skills they’d like to develop. Use open-ended questions to uncover challenges, assess career goals and discover what each team member is curious about.

Actively listen to what your team members say and repeat it back to them to make sure you fully understand their responses. 

Create new opportunities
After you discover what skills people would like to develop, seek out opportunities to help them learn and practice them. Also note that situations which frustrate employees can indicate areas where skill development is needed.

If valued employees show signs they might leave
SHRM, an organization for HR professionals, recommends having a conversation with an employee who shows signs they might be ready to quit.[3] Follow up with showing appreciation so the employee knows they are valued and offer support to help them overcome obstacles.

Do you have business banking questions? Contact our knowledgeable business development managers online or call 800-991-2221. We’re also available to help in person at your local office.

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[1] Reinicke, Carmen. The ‘Great Resignation’ is likely to continue as 55% of American’s anticipate looking for a new job, CNBC.com, August 25, 2021.

[2] Rogers, Margaret, A Better Way to Develop and Retain Top Talent, Harvard Business Review, January 20, 2020.

[3] Lobell, Kylie Ora, 5 Ways to Stop a Valued Employee from Quitting, SHRM, October 9, 2020.

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