In the current economy, government contractors are finding it is increasingly difficult to keep talented employees. Finding, recruiting and retaining qualified talent continues to challenge the government contracting sector. Retaining your workforce is a challenge that requires proactive strategies for success. One key strategy is to focus on the retention of high-performing individuals by taking care of their needs and concerns before they become more serious issues. This blog post will provide you with five tips for how to retain your valuable talent in the face of economic uncertainty, so you can have an engaged and productive workforce through this period.
Tip One: Maintain Communication and Stay Connected
In order to keep employees feeling supported and informed, it is important to maintain consistent communication and connect in a meaningful way, especially if they are working remotely. This can be done in a variety of ways such as through zoom calls, email, newsletters, or town hall meetings. Make sure you are providing accurate information about the company’s current status and future plans. Employees will appreciate knowing that you are keeping them in the loop. It is also important to have one on one discussions where they are connecting about personal or family issues that could be impacting work.
Tip Two: Offer Continued Learning and Development Opportunities
In order to keep employees feeling challenged and engaged, it is important to offer continued learning and development opportunities. This can be done through online courses, workshops, or even just sending out articles or videos related to the employee’s field. These types of opportunities allow employees to see the value in what they are doing and create a sense of enthusiasm.
Tip Three: Offer Competitive Benefits and Compensation
In order to attract and retain top talent, it is important to offer competitive benefits and compensation. This includes a variety of perks such as health insurance, dental insurance, 401k plans, flexible spending accounts, and paid time off.
Tip Four: Encourage Work/Life Balance and Flexibility
Employees need time away from work in order to re-energize and refocus. In order to retain employees, it is important that work/life balance be a priority for your company – this can mean offering flexible working arrangements or even allowing some time off between projects. Retaining high-performing individuals means making sure they have the flexibility needed to keep their lives balanced as well as productive at work. Making accommodations for employee flexibility to address individual circumstances, such as remote working can help relieve some of the work/life balance pressures.
Tip Five: Promote a Positive Company Culture
A positive company culture is key to retaining employees. This includes traits such as emphasizing the importance of team work, having a fun and relaxed office environment, even if that is working remotely, or even just providing snacks! Creating a workplace where employees feel part of the team and feel motivated will help keep them happy and engaged.
Retaining talent is an ongoing process. The key to success is staying proactive about their needs and concerns. By staying on top of these five strategies, you can have a happy and engaged workforce that is ready to face the challenges ahead! Retaining high-performing individuals takes time and investment, but the results are worth it.
Have a question related to your specific situation? Reach out to your PBMares representative or the Government Contracting Team.