Most MSPs face significant challenges when it comes to hiring and retaining top talent. According to a recent report by CompTIA, 55% of MSPs cite hiring and retaining staff as their top concern. And it’s no wonder given that the average turnover rate for MSPs is around 20%, according to Channel Futures.
The good news is that a great employee experience can help you overcome these challenges. When employees feel valued and supported, they’re more likely to stay with your company for the long haul. In fact, research shows that companies with strong employee experiences have 4.2 times the average revenue growth compared to those that don’t.
If you’re struggling to hire and retain top talent for your business, look no further than providing a great employee experience. But what exactly does that entail? It’s all about the employee’s perception of the company, feeling heard and valued, and opportunities for professional growth.
Why is this important for job candidates and current employees? Retaining employees is much easier than finding new ones, so creating a positive employee experience is critical. Plus, in today’s competitive job market, a great employee experience can help you stand out and attract top talent, even if you can’t offer the highest salary or shortest commute.
A memorable employee experience can even help you win over candidates who have competing offers. One managed services provider offered a candidate a tour of their workplace and introductions to potential future colleagues, while another provider only offered a standard job interview. Despite the first provider offering less pay and a longer commute, the candidate chose them because of the positive employee experience they offered.
To create a great employee experience, here are some do’s and don’ts to keep in mind:
Do:
- Foster open communication with leadership
- Help employees understand how their role impacts organizational goals
- Collaboratively develop career development plans
Don’t:
- Have a culture that doesn’t support policy
- Let employees feel like a set of tasks is their career
- Schedule company events or trainings during off-work hours
By prioritizing employee experience, you can solve many of your human resources issues and retain top talent. Not only will it help you overcome hiring and staff retention challenges, but it can also drive significant business growth in the long run.
