March 1st 2023
4 trendy tips for top talent retention
"Employee retention isn’t that hard. It’s about respect. Value their work. Value their time. And they will value you and being at your company" – Tweet by Michael Lastoria, Founder of &pizza
If you’re reading this you likely already know: your employees want more than “Free Pizza Fridays”. We live in an era where employees being served the ‘bare minimum’ from companies just doesn’t cut it – consider minimum wage, minimum flexibility and minimum culture canceled. So what will keep your A-Team on your… team? Parallel talks our four top tips for retaining your star talent.
Employees living paycheque to paycheque? Newsflash: they’re going to dip. According to a Pew Research Center survey, the top reason employees said “thanks, but bye” in 2021 was due to finding greener paycheques elsewhere.
If you have been following Salary Transparent Street on TikTok then you should already be on your toes with what the word is on the street when talking salaries. Though don’t be shy about skimming your competitors listings to get a glimpse into what they’re offering for similar roles.
Overworking is Over – Prioritize Balance
RIP to those days when employees considered “overworking” a personality trait. This generation doesn’t play about their mental health. So, we suggest you don’t either.
In recent times, The Workforce Institute at UKG revealed that 81% of employees worldwide would prioritize good mental health over a high-paying job, and 64% admit they would take a pay cut for a job that better supports their mental wellness.
Parallel’s Pro Tip? Let employees choose their work hours especially if they are working remotely. Sure, keep to fixed stand ups, brain dumps and meetings – but other than that, allow for flexibility… they’ll thank you for it!
Let Them Flex About WFH
Hey, we get it, the pandemic really switched up the game when it comes to building and maintaining connections with your employees. Who knew working from home would become the new norm?! But the verdict’s in: now that they’ve had a taste – 68% of USA employees prefer working from their own postcode.
Consider former rent fees you new “bonding budget”. Team building has never been better – Marco Experiences offers a wide range of in-person (NYC and SF) and virtual experiences that cater specifically to the post-pandemic culture. Or if you still wanna connect IRL, apparently zipping around Tuscany in a Fiat 500 is the new thing.
Create More Steps On The Ladder
Your junior editor can not be junior forever. There’s nothing more demotivating for an employee than a career ladder that’s looking more like a flat line. Embrace a lil’ extrinsic motivation and don’t sleep on rewarding your employees for their achievements and longevity in the role. You want an A-Team? Their job titles gotta match.