It is likely your large or small organization is filled with many stand-out performers, who will arrive at work every day with a commitment to working hard and producing the best possible results for the business.
Once you have found these star performers, you would be wise to hold onto them for as long as possible, as they could be integral to your company’s growth and profitability.
If you want to ensure your employees never abandon your business for a competitor, find out how to retain your top talent.
Make Your Employees Feel Valued Each Day
It can be easy for employees to feel like another number when you fail to remember their name, greet them in the morning, or are unaware of their contributions to the business. Ensure they never feel like a business overhead by making them feel like a valued member of staff.
For example, you should:
- Greet them by name
- Congratulate them on a specific project
- Take an interest in their lives
- Thank them for their hard work
- Ask for the ideas and opinions on a project or business change
By doing so, you will not only make them feel like an asset to the company, but it could also make them feel much more secure in their role.
Offer a Competitive Salary
If you currently pay your staff below the average market rate for a career, don’t be surprised if they decide to move on from the business. To both attract and retain the finest professionals for a role, you would be smart to provide an attractive salary.
Not only will you be able to take your pick from many superb candidates, but your employees will be less likely to leave the business for a competitor. It might, therefore, be time to perform a pay review to ensure a salary complements or exceeds industry standards.
Provide Superb Career Opportunities
It is, however, important to note that some employees are looking for more than a great salary at the end of each month. To prevent your staff from becoming bored or disheartened in a role, provide them with exceptional opportunities that will allow them to both learn and grow throughout the years.
For example, if you have a data scientist on your team, you can guarantee they will jump at the chance to join Michigan Tech’s online applied statistics masters program. As a result, they will develop an insight into statistical methods, which will allow them to create experiments, make predictions, and draw conclusions.
So, their new-found knowledge will not only light a fire under your staff, but the company will greatly benefit from their new skills and experience. It’s a win-win.
Avoid Micromanaging Your Team
Micromanagement will prove to your employees that you do not trust in their knowledge or skillset.
As a result, they might feel inadequate in a role and disinterested in the brand. To avoid driving your top employees out of the business, you must give them the freedom to complete a task or project alone, and you should be on-hand to provide support when needed.
By taking a step back, your employees will improve their confidence and skills, which could help them to flourish in a role and feel a greater passion for the brand and its goals.
Recognize and Reward Your Employees’ Achievements
If you fail to recognize and reward your employees’ accomplishments, they might believe they have no other option but to find a job elsewhere. As mentioned, to hold onto your top talent, you must ensure they feel both valued and respected. The statistics speak for themselves, as a recent survey found that 66% of employees stated they would quit their job if they felt unappreciated at work.
For this reason, you must both recognize and reward your staff for their hard work. For example, you could send them an email to congratulate them on a difficult project, acknowledge their efforts in an internal newsletter, or provide them with a monetary bonus for a job well done.
Improve Flexibility
A strict working schedule can make it difficult for professionals to enjoy a great work-life balance. However, with many companies now offering flexible working schedules, it is possible your team might be tempted to join a more laidback business.
However, you could prevent your staff from handing in their notice by finding ways to improve their working life. For example, you could offer a flex-time schedule or remote working opportunities. As a result, they will be able to fit their career around their personal life, and not the other way around.
Appropriately Promote Your Employees
Rather than promoting an employee based on time served or seniority, allow the hardest working members of staff to climb the career ladder. If a staff member goes above and beyond every working day, and their contributions are positively impacting the business, they should be a natural choice for career progression and/or a pay raise.
By doing so, you will tell the individual, as well as the rest of the company, that you value hard work, dedication and exceptional results over longevity and seniority. As a result, your employees will feel more motivated to help the company reach its goals, so they can follow in the footsteps of their colleagues and will be less likely to seek career advancement elsewhere.
Focus on Clear Communication
While you might know exactly what you want or need from a project or task, your employees might not. If you fail to communicate its requirements and goals clearly, your staff might feel frustrated with your lack of clarity or patience.
Instead, take the time to discuss exactly what is expected of a project and of your employees to ensure no-one feels left in the dark. Remember, your team will want to perform well in their role, but it will be impossible to do so if you fail to effectively communicate with them.
If you follow the above advice, you can guarantee your talented star performers will turn into long-serving, loyal members of staff.
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