Posted by Neha Kale on 15 October 2013
Curious about the secret catalyst that will take your business from good to great? The key is in building and retaining a team of skilled employees with passion and a work ethic to match.
Although it’s relatively easy to recruit star performers, securing their commitment to your business can be a different kettle of fish. Talented professionals are often faced with an array of job options and the resources to build any type of career they wish. However, retaining your dream employees is an art worth mastering if you want to create a business that lasts. These four tips are designed to secure the loyalty of your best employees and address their yearning for greener pastures.
Fine-tune your hiring process
If you tend to set your sights on industry superstars, perhaps it’s time to focus on candidates who are a better fit. Think critically about your company culture as well as the skills and attributes synonymous with your dream employee before you make the decision to commit. While there’s no denying that experience is important, it’s critical that your new hire’s ambitions line up with your organisation’s big-picture goals. Often, mismatched objectives can lead to a parting of ways that can spark serious losses that you can’t afford.
Cultivate a culture of trust
Trust is central to great relationships and this rule applies to those you build with your employees too. Ensuring that you enforce transparent decision making and keep your word whenever possible enables your best workers to put their trust in you. Regularly informing your employees of changes that impact their job or workplace is essential for helping them understand that you’re part of the same team. Demonstrating that you have your workers’ best interests at heart is the first step towards keeping them on your payroll.
Co-create long-term goals
It pays to remember that your employees are individuals with specific aspirations, values and goals. And assuming that their every ambition lines up with your hopes for your company is an unrealistic retention approach. Instead, work closely with your highest-performing staff members and make an effort to understand what they would like to achieve. Follow this up by fostering a career development program and opening the doors to opportunities that will allow them to succeed.
Recognition reaps big rewards
It’s no secret that recognising your employees’ best efforts and acknowledging top performance is a powerful motivation tool. But what you may not realise is that an inflated pay packet isn’t the only way to retain your exemplary workers – the most effective recognition strategies go beyond the fiscal. It’s vital to consider the individual’s lifestyle, priorities and strengths when rewarding them for a job well done. Personalising your recognition efforts translates to stronger retention levels and a higher degree of employee trust.
Ultimately, to retain your sparkling employees you need to consider their perspective and put yourself in their shoes. Empathy and strategy often go hand in hand when cultivating staff relationships that will stand the test of time.