Employment Screening | 8 Ways to Retain Employees After An M&A Pt. 2
Employment Screening | 4. Offer an employee retention agreement
Where possible, offering an employee retention agreement is an effective way for employers to retain the newly acquired key talent and to benefit from the integration of their skills, competencies and experiences.
To make your offer even more lucrative, you can include valuable incentives, such as cash bonuses or other forms of financial assistance.
5. Train your new employees
When you take over an organization, you may find yourself with new employees who require a certain amount of training or development to get them up to speed inside the new entity. Investing in such employees will not only grow their skills but will also send them a message that your organization cares for the professional growth of all its employees – not just the old team.
Besides, a proper training and development program is a beneficial financial investment that results in better performance of employees and increased productivity.
6. Identify everybody’s strengths and weaknesses
Performance analysis of all your employees is critical to their progress and your success in theirretention. Remember that your employees are your biggest asset, and knowing their strengths and weaknesses could help you channel their experiences and skills for the benefit of your organization as well as allowing you to retain them longer in your organization.
7. Create an incentive program
Motivation is a fuel that encourages every employee to give their best in their work and this is whereincentives produce the desired results. Setting a proper incentive or rewards program is essential to boost the morale of your new employees and make them feel part of your organization.
Offering performance-based bonuses and promotions are some of the ways you can make your best employees feel acknowledged for their service for your organization and motivate them to do better at their job as well.
8. Understand that every employee is different
When setting a retention policy for your employees, it is important to know that everyone is an individual in an organization. What works for one set of employees might not suit the others. Therefore, it is essential to understand the individual needs of your retained and new employees before settling for a strategy. -Recruit Loop
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