Written by Guest Author | December 21, 2015
If there’s anything that is even more important – and difficult – than hiring the best people, it’s keeping them on your payroll for the longer term. Having to constantly replace employees and undertake the necessary training is something that most companies would rather avoid, for reasons of continuity, productivity, morale and – of course – the bottom line.
1. Pay them a good wage
We all want to be paid what we are worth – that much is obvious – so you are taking a risk if you pay your best employees below the market rate. Obviously, there are many other reasons why someone may switch jobs or remain in their current one, but money still greatly motivates many of us.
2. Inspire, rather than micromanage them
Do you motivate your employees by providing regular feedback, giving them incentives to chase goals and giving them a grander vision to buy into? Or are you constantly looking over their shoulder and not trusting them to do their job unaided? You need to show confidence and trust in your best workers if you are to prevent them fleeing.
3. Encourage them to learn
Instilling a learning culture in your company is integral to motivating your employees. If your workers are constantly developing themselves and gaining new professional certifications as part of their role with you, they will feel less need to look elsewhere for such experiences – to say nothing of the real day-to-day benefit to your business.
4. Communicate clearly
Do your employees know what you think of them? Are they told about what they already do well and how they can continue to improve? Are they aware of the current status of the company and where it is going? Do you actually make time to listen to your employees’ concerns? Open communication between you and your workers can make an immense difference to retention rates.
5. Celebrate your employees’ achievements
Bad employers are hesitant to recognise employee achievements for fear of them ‘getting ideas above their station’. Good employers, though, recognise that one of their workers attaining a goal is potentially good news for them, too. They therefore often reward such employees with greater pay and responsibility, in the process making them even an more central, important and appreciated part of the company.
Retaining great staff members can be difficult, but it is far from impossible. It is certainly worth mastering the above tips when you want to avoid having to routinely dip back into the labour market to recruit staff to replace those who have left.