Attracting and retaining the best talent is the top priority for any organisation that intends to stay at the apex of their business. The sustainability and consistent performance of an organisation is 70% dependent on hiring the best hands and keeping them.
In an increasingly competitive business world, talented professionals are increasingly mobile, have highly transferable skill, and above all are sought after (Head hunted), thus the need to keep your top workers happy, otherwise they may be hijacked by another company or your competitors.
Are you battling with employee turnover? Do you keep wondering what you can do to retain your most valued talents?
Here are a few tips that will ensure your employees are around for many years.
Recognize And Reward Performance: – When your employee exceeds expectations, suggest or implements a new initiative, or something that impresses you… tell them. When you express to them your genuine impression they respect you, value you and want to astonish you even more.
Emphasize The Manager-Employee Relationship:– Managers are extremely undertrained. But an employee’s relationship with their direct supervisor is a key driver of engagement, and also a key reason why they will decide to quit. It is essential to ensure that they have training in things like emotional intelligence, change management, and communications.
Invest In Developing Your Team:– Organizations crave to employ fully trained and certified professional, yet too many aren’t willing to invest in helping them maintain those credentials. Whether you send employees to a learning center or you provide membership to any association. When you take your employees’ learning and development seriously, they see it as an investment in their career.
Offer A Competitive Salary And Benefits:– If the pay isn’t there, the employee has even more motivation to leave. Compensation is a key driver of employee attraction, retention, and sustainable engagement, so track and compares respective salaries and benefits in your market and stay competitive.
Enforce Quarterly Evaluations: – evaluations help tremendously. Hold a one-on-one meeting with each team member. Ask them what you can improve to make their work-life better. You can suggest a few things they can do as well if there are concerns to be addressed. They will appreciate your willingness to change and will take their criticism much better as a result.
Be Consistent:– Keep your promises and follow through on them consistently. If you promised your team an incentive or dangled a carrot, it is advised you make a note to pay up. Those incentives drive your team to greatness. Make a genuine effort to build trust, trust can take a long time to achieve, but a healthy sense of trust between employee and employer has been shown to dramatically reduce voluntary turnover
“Keeping your team happy is a sure-fire ways to improve talent retention”
You might be unable to retain every employee you wish to stay, but remaining focused on engagement and creating memorable experiences lets them know how much you care. When employees know you have their best interest at heart, they are more inclined to work out their notice period and have the potential to turn into valuable rehires or connections in the future.
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