How to retain great employees
So you’ve got talented employees working for you, how do you retain them? It’s not as hard as you think, its more about balance. Companies looking to be successful with the way they look out for employees will conduct exit interviews as a way to find out the pros and cons of their business.
Top on the list for employees are salary, retirement plans and vacation benefits. They are more likely to take a job if a company has these. The talent will come to you if you have a worthwhile position ready for them. People are now more in touch with well being and want to have perks that help balance work and home life.
When you have talented staff it is important to communicate directly and clearly. Good employees want to please you, they just need to know how. If you aren’t telling them what works then they will continue as they are. Show your employees you trust them by giving them responsibilities that allow them to grow. Provide opportunities to learn and let your employees know there is room for advancement in the company. Hire from within and give promotions if you can. Provide courses that connect to the work they do and let them know that they aren’t just working to complete tasks and that they are there to enhance their skill set and better themselves. Employees want to be respected and appreciated and helping them grow will help with that.
Managers should make it a priority to show respect for employees instead of looking down on them. This will lead to a positive workplace. Make sure to be an open and honest boss, so listen to them. Keep them informed. Accept suggestions for problem solving. At times they will forget what you said but remember how you made them feel. So be sure to always look at the way things are being said. Is there a better way to say “I don’t like that”, perhaps try “I think we should move in another direction”. Employees want to feel secure in their job. Get to know their name, what they do for the company. Even asking for their input in company decisions.
Reward employees. These rewards should speak to their emotional needs and go beyond simple financial compensation. To be recognised in front of the company at meetings, department parties etc. Saying “good job” is acceptable, but “good job on the Monday report” is better. Be specific.
Tie a portion of your employees’ wages to the company’s performance. This will help combine the profit goals and worker incentive. Be generous with time off, workers with children will appreciate it. Provide sufficient time for sick days; family vacations and new babies. To keep an employee relationship it is important to pace the workflow. It is unreasonable to expect this high quality high pressure performance all the time. Eventually there will be burnout and feelings of resentment towards work.
While it is important to provide workers with benefits that can assist them long term there also needs to be consideration for workers taking more than they should. Of course don’t be overly generous, there requires a balance for appreciation and respect. But sometimes a little goes a long way. What do you think are successful ways of retaining employees?