5 tips on how to retain talent in a competitive market

5 tips on how to retain talent in a competitive market


In a highly competitive and candidate driven market it can be hard enough to hire someone for your role, let alone retain them longer term and ensure they are consistently engaged in the work place.

For arguments sake, I will only talk about permanent employees as dealing with contractors is another blog post altogether.

Benefits & Perks

Benefits and perks are all well and good but go the extra mile and tailor it to the specific employee to fit their needs.

A competitive package is essential but options such as flexi time / working from home demonstrate you value their needs outside of the workplace as well.

Encourage employee development

Make sure you have a defined career path for your new hire.

You can also encourage professional development outside of work and tuition related to his / her role.

Set clear expectations and goals of the company

This is crucial and something that needs to be defined before the person even has their first day.

Setting clear goals and objectives gives a sense of purpose to the new employee and ensures everyone is on the same page from the outset.

Have open communication within the business

In my experience working with large enterprises with solid layers of middle and senior management through to smaller / medium sized businesses with relatively flat structures, it is the smaller businesses that seem to excel in the communication department.

Ensure you include everyone in the important discussions relating to the business so everyone can work towards a common goal.

Have regular one on ones

I don’t necessarily mean the overly formalised process driven meeting conducted by HR with a set list of questions.

This could even be done over a coffee or whilst having a drink in the pub. (Preferably conducted on the first drink)

The main goal here is to find out what the business is doing well and what are some areas for improvements.

If there is anything else that has worked in your business, I’d love to hear your thoughts.