28 Nov Employee Retention for Your Company’s Health and Overall Success
Key employee retention is very important to the overall success of your business. Retaining your best performing staff drives higher sales, profits and customer satisfaction that frames your company’s good overall health and success. So what can your organization do to retain valuable employees?
Entrust them with more challenging roles.
Your retention rate will be higher if key employees are given more responsibility. Trust them with bigger roles (whilst supporting them along the way) so they feel confident in performing their duties – something that can challenge and empower them.
Know what’s important to your employees.
To retain key employees, you and your managers need to know what’s important to your staff and work hard to be the “best boss” your employees can have. Especially for the top performers or those with exceptional skills, more opportunities are open to them because of their skills and experience so hold on to them by understanding what’s important to them.
Respect your employees’ right and freedom to speak their mind
Staff should feel safe and free to express their ideas, opinions and even criticisms and the management should respond sensitively and appropriately.
Conduct exit interviews
It’s helpful to ask the departing employee for suggestions about how the company can improve and retain staff. It’s more effective than directly asking them why they are leaving because they can provide you with valuable insights. It’s also a way to tell them that you want to learn from the experience and improve and take action.
Take a look at your performing employees that are often overlooked.
These employees are underrated, often feel overlooked, yet they form the heart and strength of the workforce so focus on enhancing their skills, uplifting and boosting their morale. They need to feel recognized and appreciated.
Develop strong working relationships with all your employees.
Be aware of employees’ motivations, their desires and passions, their disappointments. They then feel connected to you and with other employees and work as a team to focus on issues that could affect performance and retention.
Incentivise to retain and actualize.
By including a CSR element to your incentive trips, you can foster a culture of caring and team work within your company, and enable your top performers to make a difference in the lives of others; when this occurs in the workplace, loyalty and retention go through the roof, especially with Millennials.
Contact us to help you plan an incentive trip that gives back, and helps you retain your key staff. Email us at [email protected]