How to retain your best employees
A good , no ,a great, employee can be hard to come by, and if you manage to find one you are not going to want to let them go. Not only do your top workers help to keep your business running smoothly and boost profit, but the cost of a replacing them if they were to leave can be vast.
In order to retain great staff you will need to motivate them or incentivise them to stay. There are a number of reasons that attract people to a job role, from financial reward , to company culture to the prospects of career advancement. So, what can you do to ensure you are giving your staff reason to stay?
Finding the ideal candidate
Begin by recruiting candidates who are a good “fit” not just for their role but for your company as a whole. Make sure their core values reflect those of the company , and that the working environment is suitable for them long term. By hiring the first person that comes along you risk high staff turnover, which is bad for profit and company morale.
Training and development opportunities
By offering your staff training and progression opportunities you are not only furthering their career but also their personal development. When people feel valued they are more likely to stay in their roles for the long haul and help develop the company.
Paying a competitive salary
This seems fairly obvious but are you paying your employees what they are worth? As above , when staff feel valued they are more likely to stick around. Offering them a good competitive salary will ensure they stay , even if they are head hunted. Check that you are offering the industry salary standard , and if you can afford it and the candidate is worth it – increase it.
Like all good relationships, you need to communicate effectively in order for them to blossom. This applies to the workplace too. Keeping employees up to date with changes, news or insider info will make them feel valued and invested in the company
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Giving that little extra will make a difference. Company cars, childcare schemes, gym memberships, medical and health policies and company pensions can be the difference between a candidate choosing your company over another. If you don’t have the financial freedom to do this implement other perks, such as early finish on Fridays or allowing staff to work from home occasionally.
Remember, your business is only as strong as your staff. We’re here to help you hold on to your talent – and to help you find new employees. Contact us to discuss your recruitment needs.
It is not what you knowwho you know and it’s what you do with who you knowthat really matters.
Source: Richard Denny
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