Stop Losing Your Best Employees
As the economy begins to pick back up, your top performers may end up getting offers from other companies. In past downturns and recoveries, many talented people jumped ship, especially when they perceived there was more opportunity elsewhere.
So what can you do to retain your best people?
The key is to identify your top performers, stay close to them, and work on finding rewards that work for them. Here are few tips:
Show your employees that you value them and their contributions. Tailor HR and benefit programs to meet the needs of your unique workforce. This may mean moving to flex time, PTO, or offering more choices in healthcare plans and adding any other unconventional policies.
Teach, coach lead the flock
Provide ongoing training. Have an open door policy. Provide mentoring and opportunities that your competitors do not offer. Lead by example and follow through on your promises.
Ensure your company’s goals are in line with your employee reward system
Set clear expectations on how you will reward top performers.
Ask and you shall receive
Inquire your top people why they like working at your company. Ask them why they stay. And ask them what they’d do differently. Use their feedback to make improvements. On the other hand, when someone leaves your company, ask them what made them make this decision. Knowing is half the battle.
Treat Your Staff Like Gold
Once you have a solid staff established, the only reason an employee should want to leave is if they’re not sufficiently challenged—not because of compensation. Research the industry standard in terms of salary and then exceed that standard.
Open an Honest Dialogue
Change is inevitable. Your employee’s lifestyle and needs may change. You may decide to shift the direction you’re taking your business. Change can be exciting, but it can also be stressful, and it can alter other aspects of your business.
And as a bonus tip, call Personnel Plus! Often we find that over-stressed and overworked staff can lead to massive turnover. We can help you use temporary staffing when needed to alleviate strain and stress and ensure your top performers don’t jump ship!