It is frustrating to lose hardworking, high-performing employees. It can leave employers blindsided and wondering what went wrong. The best way to retain your key employees is by understanding what they’re looking for in their jobs and in their work environment and by prioritizing the things that are important to them.
Countless interviews with HR professionals show consistent findings. Nine important measures your small business can take to nurture your top talent include:
- Work/life balance: Satisfy your employees by accommodating their personal needs. Many employees appreciate the option to telecommute when they have a sick child or other urgent family matter to attend to. Big city employees may benefit from flexible commute hours to avoid rush hour traffic. Offering a fitness center pass is another way to show employees that you care about their overall wellbeing – not just their time in the office.
- Consistent workload: High-performing employees are easily overworked. Because they can be counted on to produce quality work in an efficient manner, managers often send them more tasks than they can comfortably manage during the workday. This easily leads to frustration and burnout. On the flipside, these same employees may start looking elsewhere if they feel like their skills are underutilized at their current job.
- Promotional opportunities/career pathing: While employees may be content for awhile in their current positions at their current pay scales, eventually most employees expect a raise and an opportunity to advance their careers. While it can be challenging for small businesses to outline a clear path for advancement, employees stay engaged within companies where they can identify internal opportunities that match their skill sets.
- Effective management: A lack of training in their positions or a fear of giving honest feedback are two main reasons managers fail to earn the respect of their teams. Invest in your managers with proper training that teaches effective interpersonal skills and conflict management and encourage your leaders to get to know each of their team members and their personal motivators. When managers earn the respect of their team members, these employees are motivated and loyal to their team and their company.
- Raises and recognition: Keep employees engaged and motivated by recognizing outstanding employees for their achievements. This can be in the form of verbal praise, an email you send out to everyone in the company highlighting their achievements, lunch on the company, a pay raise…Be sure your employees know that you value their hard work.
- Attractive benefits: Just as important as an attractive salary, benefits say a lot about how much you value your employees and an employee that feels valued is more likely to stick around. Offering fully funded professional development opportunities, plentiful sick days and vacation time, generous maternity and paternity leave…These benefits are just a few great ways to invest in your employees.
- Trust and autonomy: No one wants management looking over their shoulder but this is especially true of high-performing employees. They have worked hard to earn your trust. Give them the autonomy they deserve. If you do, they will continue to deliver quality work and reward you with their loyalty.
- Retaining other key employes: Like it or not, employee resignations can be contagious. Oftentimes when one good employee leaves, particularly one in a managerial position, team members will follow suit, often following that manager to the next company. Working hard to implement these steps to retain your key employees will help curb this trend.
- Aligned values: Ultimately, people want to work for a company that aligns with their core values, goals and objectives. When this is the case, employees tend to be more like-minded and develop an emotional connection with each other and with their jobs.
Want help attracting AND retaining your top talent? We can help! Give us a call at 305. 285.9264.