As the economy has bounced back after the global slowdown, options for talented workers have improved too. As a manager or business owner what you can do to ensure that your best employees stay with you over an extended period? We have collected a few points that might help you make work conditions better and keep your employees from looking for greener pastures elsewhere.
• Train your managers – A good manager provides a nurturing environment for the employee to succeed, and keeps any supervision from turning suffocating.
• Provide practical benefits – instrumental benefits, like good health insurance or paid leaves, can give any company an edge in a market competing through high pay packages to attract and retain talent.
• Create a stimulating work environment – Cubicles for workers who prefer privacy to work, a café for occasional breaks or a gaming room to de-stress, or even allowing flexible timings or work-from-home options, are just some of the ways to make the office a welcoming place.
• Reward good performance – Despite being the prime motivator for continued excellence, many firms fail to ensure this, probably to avoid appearing biased.
• Connect employees’ work to the larger picture – Regular feedback that helps employees be clear about the firm’s expectations is essential for a sense of engagement and avoidance of stress.
• Listen to your employees – Engage regularly with your staff to know their needs and aspirations – the best way to implement the other employee retention pointers mentioned above.
Retaining your best employees has a direct positive effect on the firm’s bottom line. While some of the steps above may appear costly, the value of your best employees staying with you for a long time far outweighs the cost of any investment you might have to make.