I read a great article in USA Today this week that commented on how more and more companies are working harder than ever to hold on to their workers amidst a tightening labour market, with higher turnover. As such, they are doling out larger raises, more benefits, more training and other perks to keep their really great people on board. Needless to say, I like the ‘more training’ perks best of all!

 

The article says that about a third of CEOs are reinstating or else increasing bonuses, and half are boosting investment in training and development, according to a survey of 2,200 CFOs released this month by staffing firm Accountemps.  

 

I especially applaud a response to this news made by one executive at a company called Robert Half. Paul McDonald who says, “They’re awakening to the fact that they’re going to lose their people. We’re seeing an increased investment in the employee.”

 

This is all evidenced by the big US chains such as Walmart, Target and McDonald’s, all of which have highlighted pay increases in recent months, with Starbucks developing its online college tuition program. 

 

Employee retention wherever you are based is critical to the long term health and success of your business. Retaining your best employees ensures customer satisfaction, product sales, satisfied co-workers and reporting staff, effective succession planning and building organisational knowledge and learning.

If managers know these facts so well, why do they then behave in ways that so frequently encourage staff to quit their jobs?

 

Here are 5 top tips to retain a great employee:-

 

Management thinkers all agree that a satisfied employee knows clearly what is expected from him every day at work. Changing expectations keeps people on edge and creates unhealthy stress.

They rob the employee of internal security and make the employee feel unsuccessful.  

 

This is not advocating unchanging jobs – rather just the need for an environment within which people clearly k now what is expected from them.

 

Talent and skill utilisation is another environmental factor your key employees seek out in your workplace. A motivated employee wants to contribute to your work areas outside of his or her specified job description.

 

– How many people could contribute far more than they currently do?

– How many people have untapped strengths?

You just need to know their skills, talent and experience and take the time to tap into them.

 

A commonly heard complaint or lament during exit interviews is that the employer never felt senior managers knew they existed.

 

Take time to meet with new employees to learn about their talents, abilities and skills. Meet with each employee periodically. You’ll have more useful information and keep your finger on the pulse of the organisation. It’s a critical tool to help employees feel welcomed, acknowledged and loyal.

 

The quality of the supervision of an employee receives is critical to their retention. People leave managers and supervisors more often than they leave companies or jobs.

 

It’s not enough that a supervisor is well liked or a nice person. Starting with clear expectation of the employee, the supervisor has a critical role to play in retention. 

 

Anything the supervisor does to make an employee feel undervalued   will contribute to staff turnover. Frequent employee complains centre on these areas:-

 

– Lack of clarity about expectations

– Lack of clarity about earning potential

– Lack of feedback about performance

– Failure to hold scheduled meetings

– Failure to provide a framework within which the employee perceives he or she can succeed

 

Your best employees, those you want to retain, seek frequent opportunities to learn, to develop as people and grow in their knowledge and skill.

 

Without new opportunities – to sit on challenging and significant teams, to work on meaningful projects, to take stretching responsibilities, to attend seminars and training – they feel they will stagnate. 

 

A career-orientated, valued employee must experience growth opportunities within your organisation.

 

Need more tips on retaining your best staff, or tips on a range of other management and trainer issues from experts? 

 

Visit the new Creativedge free mobile App providing immediate, expert management and personal development tips and advice. 

 

Visit:-

https://itunes.apple.com/gb/app/top-10-tips/id796349890?mt=8 https://play.google.com/store/apps/details?id=com.elixsoft.creativedge