5 Tips for Keeping Key Employees
If the new year finds the HR department holding their collective breath, fearing/dreading the announcement that a top-notch employee has resigned, it’s time to rev up efforts to prevent the loss of your workers to greener or perceived greener pastures. Everyone knows losing a key employee is costly, making employee retention a challenge facing every organization today. So, what steps will make a positive impact on your retention efforts? 1. Demonstrate Appreciation It may sound too simple but think about it. Who doesn’t want to feel rewarded, recognized and appreciated? When thank you’s, pats on the back, and sincere expressions of appreciation are the norm, it creates a setting that feeds accomplishments and achievements. Bonuses that recognize a job well done further demonstrate the high value placed on hard-working employees. 2. Solicit and Apply Employees' Input You know it’s the folks who do the work, day in and day out, who are in the know, who get what it’s all about, right? Unfortunately, too many companies bypass this amazing wealth of knowledge and only seek input from outsiders or top brass who have far less hands-on experience. You want, need and pay your workforce to know what they’re doing and to perform at a high level. So, now it’s time to glean from these folks when it comes to decision-making and improvements and expansion. Encourage an atmosphere where people are comfortable giving feedback. Listen, ask questions, and when applicable, put what they have to say into action. 3. Stifle the Urge to Micromanage You’ve hired well. You’ve provided the training and tools for them get the job done, so let them get the job done. Be available to answer questions, to offer support, but otherwise back off. No one does their best work with the boss looking over his/her shoulder. 4. Coach “People want to do work that has meaning for them (purpose), and they want to get good at it (mastery), so they can do it in a self-initiated and self-directed way (autonomy),” notes Erika Anderson. Effective coaching from superiors helps good employees achieve these goals. It’s a collaborative effort between the employee and management that explores the best ways to acquire the needed skills and training and then charts a course that will seek to fulfill the purpose for both the employee and the company. A win-win for all involved. 5. Take It a Step Further “You have to find a growth path for the great ones,” says Jason Lemkin. “The great ones will join your company to grow, to learn, to do new things. If they can't grow, they die a little every day. It's your job to understand the career path for all your key employees. And do whatever you can, within the boundaries of reality, to help them achieve it.” MPS Technical understands that employee retention is a crucial component to your company’s success. When you partner with MPS Technical, you connect with top-quality employees. Contact our team today.