Retaining your employees is crucial for any organisation due to the costs associated with hiring and getting new workers acquainted with your practices and the way in which you do business.
It is even more important when it comes to the top-performing members of your team, as keeping them on board can help to push your company forward, whereas losing them could do quite the opposite.
Reducing the turnover doesn’t exactly correspond with a field of science, or a single piece of motivational advice. There are, however, certain daily practices that you can undertake with all of your employees (not just your very best) to ensure they look upon their employment with you favourably. They are, in no particular order:
Consistently Demonstrating Respect for Your Employees
This may sound so simple but it’s astonishing how few managers and company chairpersons take the time to demonstrate respect to their subordinates at all, let alone on a consistent basis.
As employees, we need to be respected for the work we provide for any boss. This doesn’t mean we want you to be praising us at our feet (though doing so once in a while wouldn’t hurt), but what it does mean is we want to know you appreciate us and our work, and that you respect us on the same level that you respect your fellow managers, and your higher-ups.
Praising Good Work and Results
On a similar vein, one of the easiest ways to keep some of your top employees with you is to praise their good work and results as they happen.
Take note though that there is a right and wrong way to praise your staff, as you won’t want people becoming bigheaded and over-familiar. When you make a point to really understand whether a certain piece of work was good or bad, and what positive results came from it (and thus, rightly praise them because of it), you’ll stand a much better chance of retaining your top performers.
Understanding Your Employees’ Needs Regarding Career Progression
This is a big one. If the performance of a certain number of your employees is significant to the point that your competitors get wind of it, they’ll likely soon find themselves being contacted by a recruitment agency about a potential move to one of your competitors. When, however, you understand ahead of time what a particular employee is looking for in terms of career progression, you can ensure they achieve it in your organisation by providing them many opportunities for growth.
Encouraging a Positive Work-Life Balance
The phrase work-life balance has been thrown around a lot within the last decade or so, but all it really refers to is the ability to have a life outside of work; to not feel like your work is the be-all, even if it is.
An easy way to retain your very best employees is to allow them flexibility in their working hours. Don’t go over the top, but allowing them certain luxuries like the ability to leave work early one night a week to pick up their children from school will make a huge difference to their lives.
After investing on the services of recruitment professionals such as Spectrum’s executive search consultant to find top talent, it only makes sense to work hard to retain such stellar staff. Applying the tips previously mentioned will help you in your endeavour and ultimately lead you to success in the business world as an exceptional workforce is the secret to an efficient organisation.