06 Mar How to Retain Your Top Employees
If you want your business to be successful in the long run, then you must retain your top employees. It is well known that a company that retains its top employees has a happier customer base, achieves higher sales and has a more satisfied workforce. These rules are universal – it doesn’t matter if you sell eBooks online or manufacture trophies in a warehouse.
So how do you go about keeping your top employees?
Provide Opportunities to Grow
It is usually the case that the best want to get better, so provide all of your employees with the opportunity to grow and learn. Here is a list of things you can do to promote growth in your company:
- Seminars – Whether industry related or not, give your employees the chance to attend seminars and workshops. You will find that their productivity will increase as they apply what they learnt in the workplace.
- Book Allowance – By providing your employees with a monthly book allowance, you will let them know that you value growth and improvement.
- Encourage and Support New Projects – If one of your top employees comes to you with an idea, sit down and listen to it. If the idea has potential, allow them to pursue it.
Recognise and Reward
Your top achievers work hard at what they do, so it is important to recognise and reward them. This may take the form of a structured incentive program, such as an award for top sales in the division, or an award that is based on a popular vote, such as the classic ‘employee of the month’. What is important is that you let your top performers know that you appreciate their contribution.
A great idea is to present all of these awards at a corporate awards night. Not only will the night be a lot of fun, but it will be a great way to bring your workplace closer together.
Set Clear Expectations
Even your top employees – those who take on extra work and stay back longer than everyone else – need to know what is expected of them. Once you communicate to an employee what is expected of them, allow them to the space to work with this expectation. If you start changing this arrangement, it can result in confusion and frustration.
This is not to say that an employee’s role is set in concrete, just that unnecessary changes in expectations can result in a stressful workplace.
Relationships in the Workplace
As a supervisor, you want to foster a positive relationship with every employee, and especially with your top employees. Listen to their suggestions and take their advice on board; you will be pleasantly surprised with the quality of their input.
Don’t be afraid to challenge your top employees. With the right encouragement, they will be able to take their performance to the next level and they will appreciate the trust you have placed in them.
Employ the advice in this article and your organisation is sure to retain its top employees, and attract some new ones too. Good luck!