Even the greatest heads of the company always go through this thought process- Are my employees happy? What more can I do for them? Will I be able to retain my top performers?
Knowing how to make sure you retain a worthy employee is major distress for today’s HR’s and CEO’s, not to mention, for a good reason. With the new generations coming into the workforce, job-hopping has become a famous trend. Nowadays, people don’t begin and finish their careers with the same organization.
If they feel like they have a better opportunity, they will not think twice before taking up another offer. This trend although raises only when the economic growth is at its peak when workers can switch jobs, with fewer consequences.
Retaining top-performing employees is a must for turnover, but the ways in which you can do that are abstract and vague. We have compiled a list of the top 7 ways to retain top talent in your organization and adapt them to ace your retention strategies.
7 Ways to retain your best employees
1. Bring Your “A” Game
According to work norms, an organization is always divided- A small group of start employees or the ‘A’ players, a relatively large group of average employees, and another group of low performers, who will be let go from the company after a while, or they will themselves leave due to lack of bonding.
Then the question arises, why not only hire the ‘A’ players if they are the only valued ones? The main issue with this is filtering them out during an interview is a hard task. The main catch is to focus on their character, as much as you focus on their skills and development.
The advantage of having ‘A’ players in your company is twofold- they are motivated and hardworking, but also, they make the work atmosphere lively and breezy for everyone. Surrounding a top performer with another one will bring out healthy competition which in turn will increase the productivity of the company.
2. Adult Treatment
Treat all your employees like adults and mature people by default. Even if they are a fresher, don’t treat them like the new kid on the block. They might have more skills and talent than an employee with years of experience.
Provide them with extra treatment like vacation leaves, so that they can maintain a positive work-life balance. Such policies will encourage them to stay for more than just the basic benefits.
These gestures convey a sense of trust, that the employee is valued for more than just their work.
3. Team Empowerment
Treat all your employees equally, where no one can boss each other around. Conduct meetings where everyone is given a chance to put forth their ideas or strategies. This will encourage team empowerment, and there will be no office politics. If there is no proper hierarchy, everyone will feel equally important, and give their best to make the company profitable.
4. Let them be their true self
Just let your employees be their true selves at work. Don’t put restrictions like no tattoos, compulsory dress code, etc. Even though these are minor things, they can say a lot about the atmosphere which will be created in the workplace. If you put a lot of guidelines, people start to behave artificially at work, as they are under constant pressure of following the rules.
Let them be their authentic self, and in turn, they will be a lot more confident, which will increase their productivity.
5. Invest in Their Career
Smart organizations are aware that their top employees are the most important asset, and they will do anything to retain them. Investing in their personal growth is a long-term investment that will benefit the organization in the long run. Let them learn new skills, and encourage them to participate in different projects.
This will make them stay in the company for a long time.
6. Walk the Walk
Leaders must walk the walk. Perks provided to the employees are surely an advantage and a crucial factor in retaining them, but sometimes unspoken rules prevent the employees from taking benefit of them, and thus undermines the retention strategy.
Nowadays, with a hectic work life, people don’t focus on their health and well-being. You can open a gym in the company, and to make sure the employees are using it, you can offer rewards for the time they work out.
It’s the long-term commitment that encourages an employee to stick with the same company.
7. Pay Attention to Existing Employees
Just because an employee has been a part of your organization for a long time, does not mean you can take them for granted. Give them equal importance as you give to the new hires. Even though they are committed to the company, the moment they start feeling unvalued, they can always switch to a company that appreciates them.
As mentioned above, a retention strategy can be in any form or shape. You just must know what is best for your employee, as well as your company.