Recruitment, retaining staff, minimizing turnover, and managing toxic employees are integral aspects of every company and can significantly impact its success or failure. In this article, we will delve into the hiring process, strategies to keep employees engaged, factors that deter a valuable employee from accepting a higher-paying job offer, and effective approaches for dealing with toxic individuals in the workplace. Building a strong team is the key to cultivating a successful company.

The hiring process can be a daunting task and it all starts with the ad. Creating a compelling job ad is crucial for attracting the right candidates. This is a great place to separate your company from others. While pay and benefits are important, a study by Gartner suggests that employees are increasingly seeking value and purpose at work. Mentioning your company culture, values and vision will attract the right candidates and give them the feeling of purpose within the organization.

During the interview process it can be easy to mistake a candidate's enthusiasm and great answers for being a great worker. Many people are great in an interview, but lack work ethic, morals, or just don't align with your company's vision. This is why there should be a probationary period in place. It gives you 3-6 months to determine whether or not the candidate works well with other team members, customers, and aligns with the company's vision. After the probationary period comes the very important decision on whether to fully employ the candidate or not. Don't be afraid to let the employee go if they don't fit in well with your company. Remember, keeping an employee that doesn't work well with the company isn't only bad for you, it's bad for the employee. Like a bad relationship, you need to end it as soon as you know it's not working out, so you're not wasting your time, or theirs.

Assuming you've placed a great ad, found the perfect hire, and decided to keep them after the probationary period, now comes the best part... Keeping them happy, engaged, and working for your company. We all know the saying, "A happy employee, is a productive employee." This couldn't be truer in today's workplace. A recent article in the Harvard Business Review suggests that the pace of employee turnover is forecast to be 50-75% higher than companies have experienced previously, and the issue is compounded by it taking 18% longer to fill roles than pre-pandemic.

So, how do you keep an employee happy, engaged, and employed by you? Let's take a look at some of the key points to employee retention below:

1. Offer competitive base salaries or hourly wages: Proper compensation is far and away more important than any other item on this list; you will not retain employees effectively unless you pay them what their time is worth. Not only should employees be paid fairly for their time and work, they should also be able to afford the cost of living where they live, their wages should be regularly adjusted for rising inflation and they should be additionally compensated as their experience level or performance increases. 
2. Elevate the company’s purpose and share your vision: Employees who feel connected to the company’s mission and purpose are more likely to stay with the organization. Ensure that your employees understand the company’s goals and how their work contributes to the organization’s success. This will keep employees engaged and fulfilled.
3. Prioritize culture and connection: Building a culture of solidarity and connection can help employees feel more engaged and valued. Encourage team-building activities, open communication, and opportunities for employees to connect with one another. Employees need to feel comfortable sharing ideas, concerns, and/or anything of importance with the managers of your organization. A strong team is a successful team.
4. Take care of employees and their families: Offer benefits such as health insurance, paid time off, and parental leave. Consider offering incentives for healthy choices employees make. These benefits can help employees feel more supported and valued by the organization.
5. Consider offering performance-based incentives: By adding bonuses, shares of the company, or other incentives, employees have clear, measurable goals to reach for and will push themselves to achieve them. Plus, it gives them the opportunity to share in the company's success.

Employee retention is one of the most important aspects of business for many reasons. Recruiting, hiring, and training new employees can be expensive. By retaining experienced staff, organizations can avoid frequent recruitment and onboarding costs. Also, high turnover can negatively impact morale among remaining employees. When staff sees colleagues leaving frequently, it can lead to uncertainty and a sense of instability. Lower turnover rates contribute to a more positive and stable company culture.

Long-term employees possess institutional knowledge that is valuable to the organization. This knowledge includes understanding the company's history, its clients, and the nuances of its operations. Retaining this knowledge can contribute to smoother operations and informed decision-making. Lower turnover rates are often associated with higher levels of employee engagement and satisfaction. Employees who feel valued and supported are more likely to be motivated and committed to their work.

In conclusion, your employees or team members, as I call them, are the face of your company, they are the people that make your vision a reality, and a large part of the success of your organization. Get the right people, in the right seats in your organization, make sure they share your vision and want to be a part of your mission. Pay them fairly for their time and value, make sure they can live comfortably on the wages you provide, and give them the time off that they need. A good work-life balance is a very important factor in keeping employees happy and there's less potential for employee burnout.

If you do all these things, there's still no guarantee that you will keep an employee, but it will reduce turnover rates significantly, build a long lasting team, and improve company culture.