Boost Employee Retention: 5 Ways BambooHR Helps You Keep Top Talent

If you’re looking to retain your key people, it’s essential to have the right strategies, plans, and programs in place. The award-winning BambooHR platform provides useful insights, tools, and solutions to help you take charge of the employee experience and have a more intentional strategy. Join us in this breakout session to learn how BambooHR can be invaluable in increasing your employee retention and five strategies to help you get there.

In this session, you'll learn how BambooHR can provide key insights to improve employee retention and how you can engage and grow your employees in a thriving workplace environment.

Outline

  • 00:00:00 - Introduction

Kenny Latimer of BambooHR, a leader in product marketing, opens our understanding of the modern workforce and the challenges faced by many business leaders when it comes to employee retention. He positions BambooHR as a solution to these challenges.

  • 00:03:00 - The Issue: Employee Retention

Kenny dives deep into the issue of low employee engagement and high turnover rates. He provides a shocking statistic: only 23% of employees feel engaged at work, and 60% considering leaving their jobs.

  • 00:07:10 - Retention Strategy

Bamboo HR equips businesses with tools to understand their organizations better. Kenny underscores the importance of employee satisfaction surveys, processed by AI for qualitative and quantitative insights. He shares an instance of how a customer tweaked their approach during the COVID-19 pandemic based on these surveys.

  • 00:15:00 - Retention Strategy 2: Employee Progress

Continuous performance processes attract and retain top talent, says Kenny. He introduces BambooHR's performance management system that includes goal-setting, feedback, and assessments as keys to employee growth.

  • 00:20:00 - Retention Strategy 3: Showcasing Compensation Beyond Salary

"The more they understand what other things beyond salary they receive from your organization, the less they'll think about leaving to go to a new company." Kenny suggests how focusing on total compensation can keep your employees from looking elsewhere.

  • 00:25:00 - Retention Strategy 4: Proper Onboarding

Kenny insists on the right onboarding processes. "70% of new hires decide whether a job is the right fit within the 1st month... 69% of employees are likely to stay with the company for 3 years if they experience great onboarding."

  • 00:30:00 - Retention Strategy 5: Optimized Communication and Building Community

Kenny finishes the session, emphasizing the need to foster community with tools like BambooHR's employee community tool for grouping, feeds, and posts.

  • Testimonials and Q&A

Kenny ends the webinar by sharing testimonials from companies who have implemented these strategies and seen positive outcomes. He then answers a few questions from attendees.