Problem:
I came across Bank of America top 8 approaches to improving employee retention and they are a thoughtful intentional on boarding process, promotions and professional development, competitive pay perks, public recognition, work-life balance and flexibility, constant communication and continuous feedback, opportunity and inclusion, and teamwork (2026). Even though this list was made for small businesses and Bank of America opinion I would have to say a lot of these are used in all type of setting not just banks or small businesses. As a staffing coordinator I would say on boarding process sets the tone, if you don't have a strong foundation leading off it can set a negative vibe. Constant communication and feedback while in training and after is key to open communication and making the employee feel secure in the workplace. Having all employees working as a team, especially with new hires, makes them feel welcome and feel like they can ask for help will determine the longevity of any employee. Lastly, balance between work life and flexibility is becoming more important. Creating mandatory overtime just because the company is short handed is the start of going down the wrong road. People have families and other obligations they must attend to or schedule so it could lead to calling in or worse putting in their notice. As Bank of America listed eight valid approaches, the three I addressed are the top three I focused on first before looking at the others. Now every hire might have others in mind like compensation or professional development, then my focus would shift to those. Need Assignment Help?
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