When your company is privileged enough to acquire great and outstanding talent, next comes the daunting task of retaining that talent. More and more business practices today involve pirating the top employees of competitors. If you wish to be immune from this, you will need to develop a systematic and sustainable game plan to keep your workers delighted and fulfilled.
The long-term success and development of your business heavily relies on the vision and long-term investments that your employees have for the company. When your company is able to retain valuable talent for long periods of time, there is a substantial reduction in time-consuming tasks of having to find, attract, recruit and train new talent. You can avoid all these costly and time-consuming problems by following these quick tips on how you can better retain your company’s valuable talent.
#1: Set Clear Expectations and Direction
If an employee chooses to leave your organization, most of the time, it will be because that employee doesn’t find any real meaning and fulfillment in his work. You can best avoid this by instilling a sense of purpose and direction in an employee’s production.
From a managerial standpoint, micro-management or macro-management can both prove to be futile if the management approach in itself has no clear direction and sets no expectations. When you are able to efficiently set production expectations for your employee, the employee is entrusted with a sense of purpose and drive to accomplish tasks that will benefit your company.
#2: Provide Proper Communication Channels
Is your company equipped with a proper feedback system where your employees are free to air their own views? Two-way communication between the company and its employees is very important in the retention of star talent.
You will always want to make sure that your employee feels that he/she is in a safe and open environment wherein his voice and ideas are valued and not muffled. Often, professional misunderstandings and resentment stem from a lack of communication.
#3: Provide Varied Opportunities and Incentives for Growth
Another great way of retaining your company’s valuable talent is by providing them various opportunities for growth. In any situation, a human being always strives for individual development. When a company is able to provide opportunities for individual development, it entices the employees to think more long-term regarding their goals with and for the company.
Simple programs like promotion opportunities, seminars, certifications and the like are all perfect examples for giving your employees opportunities for growth.
#4: Never Threaten An Employee’s Job Security
When managing a workplace, it is important that you foster an environment that is safe and secure for all the workers. This will give the employee more confidence to produce better work results, as well as give him the security in knowing that he is taken cared of at your company. Avoid talks of lay-offs and corporate downsizing. You wouldn’t want your employees to jump ship when the boat isn’t necessarily sinking.
#5: Have a More “Personal” Management Approach
Top talents and workers working lower-level jobs will always find inspiration in knowing that upper-level managers and executives are also working as hard as they are. This can be done when senior managers and executives actually take the time and effort to personally approach and discuss with lower-level employees regarding the required tasks that are set before them. This establishes a sense of team work and camaraderie in the workplace that lower-level workers will always find comforting.
#6: Make Sure Your Employees Feel Appreciated
You must be familiar with the old, cliché “Employee of the Month” awards that are handed out at various establishments. This is a good practice, but try to take it a few steps further. Your company should always be capable of delighting your employees with rewards, acknowledgement, and recognition for their efforts. When an employee feels valued and appreciated, it leaves him with fewer excuses for leaving. A simple gesture like a small salary bonus, or a few extra vacation days can go a long way.
Now, take a look at your own company at the moment. Are you practicing some of these tips already? Great! You aren’t? Well, it wouldn’t hurt to try would it? Let us know what you think about this article by writing in the comments section below.