How to Retain Your Best Employees
Updated: Jan 15, 2021
In every organisation, there is always a handful of employees who are responsible for the most amount of productivity. These individuals constitute the most important segment of the workforce, and you probably already know which of your employees have the best work ethic, the most systematic approach to productivity, and are responsible for most of the advances that your company has experienced so far. Retaining these employees should be one of the top priorities for every business owner and HR Department.
1. Demonstrate Opportunities to Grow
No one wants to work at a dead-end job and no one wants to believe that it isn’t possible for them to advance their career further, especially at an organisation they enjoy working in. So, always express the possibility of promotions in front of your best employees. They should never feel that they’ve reached the very end of their career with your organisation or that they can’t advance any further.
2. Provide Benefits
With the cost of healthcare rising rapidly and looking at the current state of the economy, many employees have naturally begun to want to gain better and better benefits for themselves. Having a strong health & general benefit plan for your employees is one of the best ways to retain your highest performing employees as they’ll know they’ll have their needs taken care off.
3. Have a Balanced Work-Environment
The odds are that your top-performing employees probably already find your work environment to be very conducive to productivity, but it’s always possible to make it more pleasant to the eye. The best work environment is one that has a minimalist aesthetic, all necessary paraphernalia placed within reasonable proximity, and no unnecessary distractions (for example TV's, clatter around the office, and etc). Have a look at your work environment and see if there are any ways to improve it.
On another note – you should ask your employees as well if they feel that there are any specific improvements that they would like within their working space.
4. Emphasize Maintaining a Work-Life Balance
One of the worst things that can happen to any professional, is that they feel over-worked. Even your most ambitious and thriving employees will inevitably want to take a break from work at some point to refresh themselves. Encourage your employees, whenever possible, to take an occasional break from work to relax, so they never feel that they’re being exhausted.
5. Offer them Mentorship Programs and Trainings
The newly hired, or less motivated employees should be offered mentorship programs. Pairing an employee with a mentor can cover the training, motivation, and retention aspects. New employees learn to rope the boat with the expertise of experienced ones. Training and development programs contribute towards improving employee’s productivity as well as their motivation.
6. Let Them Know Their Value
Even the most hard-working people have psychological needs that need to be fulfilled. So, let all of your employees know that they are vital to the organisations success. The best way to do this is to show appreciation by simply saying ‘thank you’ on a regular basis for their hard work. Try to connect with them on shared interests outside of work too. For example, organise a night out for drinks with the team, or for a nice meal at a nice restaurant. Reward and recognition is the most conventional yet effective strategy to retain employees.
7. Avoid Micromanagement
Give your employees full space and opportunity to work the way that they want, as long as their performance doesn’t dip below their KPI’s. If your employees have a good worth ethic, they should be able to figure out on their own how they should best manage their time and efforts, and if not, you should definitely offer them training on how to do so. If you try to manage things for them excessively, I guarantee to you that you’ll see a dip in their performance and productivity.
In conclusion, the best way to retain your employees is to fulfil their personal, psychological, professional, and health-related needs. By giving them the right mix of incentives and rewards, you can be sure that your best employees will never consider leaving your company.