5 Effective Ways to Retain Your Best Employees

The success (or failure) of a company depends on its insecure employees. It's not hard to spot one, but let's not confuse it with employee's motivational problems. Employee retention may seem costly at first glance, but it's not. Companies have goals, one of which is to keep the operations running for years. It wouldn't be possible without efficient managers, as well as able employees to work alongside their manager.

If you happen to be managing a team (or the company itself), then you should know that employee retention must be the key to success. You want the best, yet you can't guarantee that your best employees would be around you for years. You can start with a meeting, where you outline their responsibilities. You give them the signs that should prompt them to ask questions. There must be a mutual trust then and there. This is a start.

Tactics That Could Equate to Success

Allow a flexible working schedule. It might come as a surprise to some bosses, as this could result to a repercussion. You expect your employees to be responsible adults, and they want to give their best effort. A fixed working schedule can teach employees the virtue of self discipline, which can be followed by a crash course in prioritizing. Think of the long run, though. Stagnation is a natural occurrence, which may be due to a fixed schedule. An arrangement can be done if there must be a meeting (or a team-building event).

Invest in career development. You can't expect your employees to do the same tasks for years. It's natural to climb up the career ladder, as they are capable of learning a new set of skills (aside from the ones that they become good at). This won't be enough, though. You can encourage the promising ones to attend a training course, if not a seminar. You can arrange their schedule (again), so they can accommodate their graduate studies. It also extends to an employee's activities outside the office. If indulging in a hobby can make happy employees, then don't be the one standing in the way.

Give competitive benefits. Performance bonus would be the best way, but you must explain it in the beginning. Small perks also help. (A business trip could be a good option. It's possible to mix business and pleasure.) You can be creative in your approach, but make them think that their best effort aren't going to waste.

Create an open working environment. It would be impossible for office politics not to exist. A new employee could sense it while a seasoned one would get used to it. Good communication should be the key, where you encourage them to give their valuable input. And you must tell them that you would consider it (at the least). An open environment can also be interpreted as a workplace with a lighter atmosphere. Not that employees aren't serious about their jobs, but the pleasantry could make a big difference. There would be one or two employees who could hold others back. It’s your job to make sure that it won’t affect the company’s smooth operations, if not make a dent on the company’s success. You have the unenviable task of dealing with these people, but think of it as a great compliment. (Your boss believes in your capabilities.)

Provide fair treatment, as well as a complete set of equipment. Insecurity can arise from the favorable showing to certain employees. You don't want to create strife, which can be due to a very small gesture. In this regard, you must ensure that the office is spacious enough. (Claustrophobia can affect them sooner or later.) You promise to treat all in equal terms, such that they have the same computers and other vital components. You won't discourage them from making a complaint, yet you don't want to give them false promises. And intimidation would be out of the question.

Get Ready for a Stay Interview

Giving importance to your employees doesn’t mean that you give to their whims. You don’t have to be affectionate in showing it, as saying it in simple words should be good enough. A friendly competition could be the best way to maximize their skills. It would increase their productivity, which should spell success to the company. Some would point out that there are times when a friend must compete against his friend(s). You must ensure that there won’t be any resentment that can worsen the situation sooner or later. It also means getting off their backs before you see the red signs.

You can also conduct “stay interview”, which is far from an exit interview. You might be tempted to make it informal, but don’t. Why did you come here to work? You couldn’t imagine responding to that question in any manner other than a serious one. What are your nonnegotiable issues? You can do a comparison between employees, and derive the best solution from the outcome. Why have you stayed? Make sure that you do a mental note of it.

There’s no guarantee after reading this post (and doing it), but there are other ways to assure your employees that they’re valued by the company.