During interviews, candidates quote better salaries and personal advancement as top reasons why they would change jobs. However, the reasons usually go beyond this, namely that the work is not challenging enough, conflicting with the management style and the company’s direction, not fitting in with the company’s culture and needing more flexibility.

The reality today is that more people are moving on. Thus, for many companies, retaining talent has become the most pressing human resources nightmare.

As competition for talent harshens, employee retention is one of the most intense challenges most HR practitioners face. Therefore, as we enter the new year, employers are urged to look at their company’s talent and to think of measures they are prepared to take to retain their most important employees.

One of the most essential things a company needs to do is to make sure it employs the right people. Companies should know that there are strategies that can be used in the selection process to ensure that the candidate is a good fit for their culture.

Before you hire anyone, identify what your company values are and then look for employees who personify these values. If you wear these values on your sleeves, you may find that many of your employees will find their way to you on their own.

Your employees need to feel valued for the work they do. They also need to know that they are being fairly compensated for their loyalty and commitment. When employees don’t feel valued, no one can blame them for wanting to move on to a new challenge that rewards them for their work and their effort. One way to do this is by helping them in their development through ongoing training that contributes to their growth.

Make sure your employees are happy in an environment that values their mental and physical health and that offers them ample opportunities for positive social interactions. Happier employees will not only perform better but will also develop a stronger sense of ownership of the company they work for and represent. This will make them better brand ambassadors, which will strengthen your brand as a good employer. One of the mostly sought after requests we are experiencing from candidates during interviews is more work flexibility. This is a fact that has also been confirmed by a number of recent studies that indicate that flexible work arrangements have had positive effects on retention.

Happier employees will not only perform better but will also develop a stronger sense of ownership of the company they work for and represent

After all it is understandable that when employees enjoy a healthy and flexible work-life balance, it means they are trusted and this encourages a better performance, which in turn leads to more satisfaction at work. Offering employees flexibility around work hours and locations can be used as a retention tool. The give-and-take relationship based on trust allows employees to feel a stronger sense of loyalty and belonging.

Employee engagement is another important factor in retaining employees. To what extent do you communicate with them? How much do you make them participate in decisions for the company which will also affect their own work environment? How connected are your employees to the vision and values of your organisation? How strong is their level of commitment and sense of belonging? All this boils down to a very simple aspect – employee happiness. Paying attention to how engaged your employees are, means that you are willing to invest in their happiness and this investment will pay you back in better retention rates.

Finally, take a good look at the way you evaluate your employees’ work. Unfortunately, many employees still view performance reviews as demotivating and diminishing on a human level. And it should not be the case because performance reviews can be an excellent opportunity to increase trust and to strengthen your relationship with employees. Make it more of an exercise for personal growth for the employee and an opportunity for the employer to learn more on how the company can become a better working place.

The bottom line is that employee retention depends on how loyal employees are towards the company and on their sense of purpose and meaning in their work. Only when employees feel respected and part of the company’s vision can a company say that it is on the right path to retaining your best talent.

Joanne Bondin is director of HR and Recruitment at Misco.