Over the past few years, it has become more common to hear leaders of big companies complain over the loss of their best employees. People nowadays find it easier to begin their own startups or join new companies that suit better their innovative spirit and search for new challenges.
Not long ago, here in Jason Hanold’s blog, we discussed the top reasons why people leave their jobs, and talked about how employees are leaving their companies now more than ever before in history.
Maintaining an efficient and reliable workforce should be a priority for any successful company, as well as the retention of those top employees that really make a difference by displaying all the qualities that make them so instrumental to the advancement of the business.
Here we have some tips to make sure key personnel, feels motivated to stay in your organization.
Maintain an atmosphere of respect within your company.
Experts agree on this factor being one of the most important reasons why an employee will love his company, or decide to leave it behind. A positive culture of respect inside the workplace starts from the way a boss treats employees. Dignity and respect must always be placed on top and kept intact in order to truly motivate your employees. People must feel regarded as an important part of the company and as a human being that also has dreams and aspirations.
Pay your employees above average.
You must understand that in order to keep the best employees amongst your ranks, you have to pay them the best salaries. Find out what is the industry’s average and pay them above that. Remember that money is not the only compensation that makes a salary competitive. Evaluate aspects like schedules, health and specialty insurance benefits and other types of compensation that may seem attractive and that can be leveraged when comparing their salary to those available out in the market. Paying your employees more than the average is a sign of respect that goes a long way into making them feel appreciated by the company.
Create efficient communication channels and apply feedback.
Get to know your employees personally and build personal relationships with them as much as you can. It is important to get to know them and understand they are individuals too. Understand that they know very well the way the company works and more often than not, have the right answers to face some of the day-by-day challenges. Make them feel like their opinions are valued and their feedback is taken into consideration seriously. Set aside time to talk to them in an honest, open and blunt way about their ideas.
Image courtesy of Nestlé at Flickr.com
Encourage innovation and creative ideas.
Creativity is all about projecting your company forward with new innovative ideas. Innovation is all about thinking where to go next and how to get there. Make sure you always provide your employees with the opportunity to shine by allowing them to be creative and take risks knowing their efforts are appreciated and taken seriously. Creativity will always be guided in the right direction if an employee feels that he is part of what is being build because they will feel a sense of ownership and commitment for the organization and will always want what is best for it.
Let go of those who are holding the company back.
One of the easiest ways to discourage your employees is to let them sit everyday next to those who barely work at all, yet continue to collect a paycheck. Do not allow dead weight to take motivation away from your best people. Top employees will always feel the company belongs to them as well, in one way or another, so they will take it quite personal when they see people who are underperformers, lazy and unwilling to work hard, working side-by-side with them without any consequences. People who lack of a good work ethic, are full of negativity, sub-par production, like to gossip and engage in office politics will always hold back the advancement of your company and those who care about it.
Stop micro-management.
They are your best employees for a reason, trust them. They know what they are supposed to do and know when they’ll have it done. Create a good relationship with them and they will keep you informed as to the advancement of their projects as a sign of respect for you. Your best employees will do their best work without you having to supervise every move they make.
Give them the opportunity to grow with the company.
Make sure your people can map their advancement clearly within the company. Goals will motivate employees and retain them in your organization. When employees don’t see growth within a company, they will learn everything they can and eventually take all those skills elsewhere to lead a different team. You cannot afford to miss out on those opportunities. “Coach your employees to support their growth”