9
O P I N I O N
Employee retention
As firms suffer from a shortage of experienced design and construction professionals, the industry finds itself in the middle of a talent war.
A ccording to industry research, it can take firms more than four months to fill the most difficult positions in their org charts. Meanwhile, in a study conducted by the Center for American Progress, the cost of losing an employee can run as high as 213 percent for highly-trained positions, meaning to replace a highly qualified employee making $80,000 a year could cost the company a staggering $170,000. It stands to reason that employee retention is among the top priorities for AEC firms today.
Jen Newman GUEST SPEAKER
2)Transparency and communication. Transparency can give employees a sense of ownership in the com- pany. Open, honest, and unambiguous communica- tion can eliminate job uncertainty and animosity within the company culture. Create strategies for open feedback, online forums, and town hall meet- ings, allowing employees to ask questions of top leadership. 3)Make it their mission to engage. Companies with highly-engaged employees have turnover rates 31
These seven tips can help you win the employee retention battle as part of the greater talent war: 1)Make a great first impression. Hire the right people and ensure they don’t just fit the role but also the company culture. Be sure to define their role and expectations clearly; no one likes a bait-and-switch. Start them off with a streamlined onboarding pro- cess so they feel welcome and comfortable in their position and understand your firm vision, proce- dures, and culture. Finally, celebrate their addition to the team.
See JEN NEWMAN, page 10
THE ZWEIG LETTER March 25, 2019, ISSUE 1289
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