Recipe for Recruitment and Retention

Now that we have a better understanding of the fact that people have different motivators to join or leave a company (and in light of the fact that employee turnover can cost a company anywhere from one times his/her salary to $1,000,000), let's examine common themes that research has found to apply to the majority of the population. In reviewing the body of research that has been conducted in this arena, seven factors stand out repeatedly in playing a significant role in an employee's choice to join and/or stay with a company:

1. Career Development Opportunities

People are more likely to join and stay with a company that provides them with professional growth opportunities and the ability to advance internally. Obviously, larger corporations have the advantage here, so smaller companies have to focus on some of the other measures below.

2. Job Content

People are more likely to accept a position that presents challenging and meaningful work that is aligned with their life interests. This holds true for what people actually like and want to do, not necessarily what they're good at doing.

3. Honesty in the Recruitment Process

Giving someone a realistic job preview and an honest snapshot of what to expect goes a long way in establishing credibility. Employees who feel duped or lied to in the recruitment process (either by recruitment and marketing brochures or interviewers) are more likely to leave the company as soon as they realize it. What else are they lying to me about? How else won't they come through? It also makes economic sense to provide an honest depiction of what the job and company are like so that candidates who won't be happy in that type of environment will self-select themselves out of the running, saving all parties involved time and money.

4. Competitive Compensation and Benefits

No company is going to be able to attract or retain a talented workforce without making sure that its compensation and benefits systems are not competitive with the marketplace. Salary surveys are crucial to this end. Keep in mind that compensation includes base salary, bonus, sign-on bonus, stock options, and benefits are comprised of medical, dental, and vision plans, savings plans, tuition assistance programs, work/life options, and so on.

5. Supportive Peer and Supervisor Relationships

Employees who feel supported by their peers and supervisors are more likely to stay with the company. This holds especially true in the case of parents returning from maternity/care of new born child leave who have the flexibility to not have to work mandatory overtime. Company work/life programs can also help in this area.

6. Company Reputation, Culture, and Societal Contributions

People are drawn to companies which have beliefs, values, and assumptions similar to their own. They want to work for and be associated with a company which is widely-regarded as a good corporate citizen. This is especially true of highly-skilled candidates who are able to command multiple job offers.

7. Organizational Commitment/Job Involvement/Rewards

Employees who feel like their organization is committed to them and who are immersed in their work to the point of identification with it are more likely to remain with that company. This relationship has been found to be even more relevant than a person's satisfaction with his/her job.

Paying attention to these seven common sense factors can make a huge difference in an organization's strategic ability to recruit and retain a talented, productive, motivated, dedicated, and integrated workforce.