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Five main drivers of employee retention

Posted on 22 August 2022

Are you starting to see employees drop off one after the other like flies?

Whether it’s a trend within a department or the entire organisation, employee retention can be harder than hiring a new one.

So, if you’re struggling with employee retention, it’s time to pull out some strategies and act now.

To help you along, below are some full-proof employee retention tips that will help you succeed in keeping your top talent.

1.    Internal recruitment and promotion

Often the best talent is sitting right under your nose. So, instead of spending time and money hiring a new candidate, look within the organisation. According to LinkedIn’s 2020 Global Talent Report, companies experience 41% longer employee tenure at companies with high internal hiring compared to those with low internal hiring. This is a great way to make employees feel valued. It also shows your support for career progression. So, if you see an employee that isn’t quite ready for the role you are recruiting for, but shows potential, give them a go. You never know - they may surprise you!

A hand with colourful people connecting together


2.    Offer flexible work arrangements

The COVID-19 pandemic for many changed the way we work and our overall views on work-life balance. According to the EY 2021 Work Reimagined Employee Survey, “More than half (54%) of employees surveyed from around the world would consider leaving their jobs post-COVID-19 pandemic if they are not afforded some form of flexibility in where and when they work.” With this in mind and knowing that employees are willing to leave jobs and not compromise, hybrid/flexible work arrangements are your new magnet for retaining employees.


Balancing work and life

3.    Provide rewards and recognition

There’s nothing worse than continuously doing a good job and never receiving recognition or rewards. So, the next time a team member completes a task, no matter how big or small, take the time to thank them. By doing so, you’ll foster a working environment in which team members feel appreciated and motivated. Here’s a quick tip: once a week or once a month, have a shout-out day. This allows management and other team members to show gratitude to fellow employees for their hard work and support.

A person recieving recognition at work

4.    Provide career development and further education opportunities

The lack of career advancement is one of the top reasons employees leave. In fact, according to the McKinsey report, which surveyed more than 12,000 individuals in the U.S., Canada, U.K., Australia, India, and Singapore, 41% of individuals that resigned from their jobs said it was due to the lack of further development opportunities.

So, managers, it’s time to put on the teaching hat and offer educational and training opportunities. By doing so, you’ll benefit from

·       Increased employee engagement

·       Innovative thinking - giving your organisation a competitive edge

·       Increased employee retention

People climbing career ladders

5.    Use exit interview insights to improve

Employee turnover is inevitable. But the knowledge you can gain through exit interview answers from your soon-to-be ex-employee(s) can prove to be valuable. Whilst you may think you have put in place every strategy to keep staff satisfied, you might be surprised with what you learn through these surveys. Take the time to carefully evaluate the feedback you receive from those leaving and consider some suggestions to help improve the department and organisational culture.

Orange paper ripped to reveal the words improve

Let’s hire better together

The employee retention journey begins the moment you hire a candidate, which is why it’s essential to get it right the first time.


At DukeMed, we understand that finding and hiring the ideal candidate can take time. So, let us make the recruitment process easy and breezy for you.


Share what you’re looking for, and we’ll work together to help you hire better. Call me on +61279121168 or book a free briefing session through Calendly Book in a briefing session.


In the meantime, check out our ten recruitment strategies to hire the best talent in MedTech to help you shine and captivate the ideal candidate.


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