Employees are the most expensive part of any organization. One Valuable asset that cannot be replaced is your company’s best employees. It takes a lot of time, effort and investment to hire the best talent and then the main achievement lies in retaining the employee. Many organisations choose employee retention as a key factor for a long term success. It is really critical to the long-term health and success of your business. There are various factors like Salary, retirement plans, vacation benefits, flexibilities to keep the employees going but they are not the reasons enough to keep an employees working in your organisation for many years. Job satisfaction increases employee retention rate. Below mentioned are a few points that will help us understand how we can retain our best talent.
Promote Performance-Performance as the measurement for promotion keeps good employees engaged and keep them motivated for continuous improvement and good performance. Good increments should be given to people who are performing well and exceeding expectations. Length of service should not be criteria of good performance but reward to good work is very important for good performers to stay in an organisation.
Flexibility- A flexible, generous and understanding approach to employees who have family responsibilities will always help the employer win the loyalty from the employee for long term. In case of emergency if the employees are allowed to leave early or allowed work from home in case of small children, an employee will always work well. Declining overnight travel to employees and making it easy for them to take vacations will also develop respect for the employer in their minds. Good paternity and maternity benefits are other things one can look at to stop your best talent from leaving the organisation. Studies show that many organizations who take forward such approach as a part of their retention policy have gained around 70% of the good employees in comparison to the previous years.
Dynamic Company Culture-Focussing on building a value-added culture leaves a very good impact on the mind of the employees. When you know all about your company’s culture you will be able to hire the best talent. Culture fit is one of the very important part of hiring and then making people stay for long term.Cuture is just not built overnight, it has to be strategically planned,created,built from top down and nurtured over time.
Invest in Employee’s Career Development- Everybody wants to grow in life. People want to learn and make good progress in their career. You can come up with some training programmes which help employees build their technical as well as soft skills. Your main area of focus must to be to let the people feel that you are investing in their future and feel that their career development is also very important for them. This will really make employees motivated and they would really like feel like giving their best to the organisation because they know that they will get progress and development in return.
Care about them personally-To decrease turnover and increase the length of time employees work for you, you need to care about them. Personal connection is one thing that makes people feel connected, involved and good about themselves. Know about your people and care about them to make them stand with you for longer years.
to conclude we can say that invest in your people and in turn they will perform
too. Retaining top talent is the best way to give a boost to your business.
It’s your people who will ultimately work for you. They will bring your
business up. They will take care of your employees. Connect with their heart
mind and soul to boost their morale and see your company soaring high.