The Bay Area is home to more than 2.1 million workers, according to the Bureau of Labor
Statistics, but that doesn’t make it any easier — or cheaper — to replace employees. To prevent resignation letters from your top talent, try out these five strategies:
5 Ways to Retain Top Employees
Offer a Competitive Salary
Create a salary model based on three key data points: 1) industry averages, 2) Bay Area costs of living, and 3) individual experiences and talent.
Use sites like the BLS and Salary.com to gauge what other workers in the industry are making in order to keep your offers competitive. Secondly, as Bay Area workers earn approximately 47% more than the U.S. average due to soaring real estate costs, you’ll need to ensure you compensate for this high standard of living. Lastly, evaluate any relevant experiences and unique skillsets your workers bring to your company when determining base pay and calculating raises.
As Bay Area employees, your best workers know their worth and won’t settle for anything less. If you want to keep top talent on your team, you’ll need to compensate with these data points such as these in mind.
Provide Room to Grow
Ambitious workers want to move up the ladder and are constantly seeking growth opportunities. Help your best team members achieve their professional goals by devising a career plan that allows them to grow with your company. This may involve the creation of new projects, positions, or departments, but it may be just the move you’ll need to take in order to retain your most determined employees.
Choose Great Managers
Your employees want to learn from the best in the business, and allowing the opportunity to train under your most skilled managers will keep them on board.
To monitor this apprenticeship, carefully audit the performance of each supervisor at your company. Check in regularly to ensure their management abilities are on par with your company’s prerogatives. Your employees will appreciate this oversight and will take satisfaction in knowing that they are being taught by the company’s most outstanding talent.
Present Enticing Perks
Traditional gratuities include healthcare coverage, a 401(k) match, discounts
on company products and services, and snacks in the break room. Yet Bay Area employees are also incentivized by perks offered both outside and inside the office. For instance, the ability to work remotely is as enticing as company trips to major sporting events and theater productions.
Inside the office, provide your employees with a healthy work-life-balance. Take group fitness classes during the lunch break, install standing desks and collaboration tables and couches, and take part in weekly company ping-pong tournaments and trivia challenges.
Grant Training Opportunities
Top talent truly craves opportunities to grow their skillsets. The Bay Area hosts countless industry conferences, training sessions, and networking events, and what better way to save on travel expenses than by sending your employees to these local events. Help your employees to learn from other top talent in the Bay Area and expand their personal and professional circles.
What Can ABA Do For You?
Contact our skilled team of recruiters today and learn about the positives of partnering with our team to meet your workforce demands.