In today’s candidate-slim hiring market, your top performers may end up getting offers from other companies. So what can you do to retain your best people?
The key is to identify your top performers, stay close to them, and work on finding rewards that work for them. Here are few tips:
Pay attention. Show your employees that you value them and their contributions. Tailor HR and benefit programs to meet the needs of your unique workforce. This may mean moving to flex time, PTO, or offering more choices in healthcare plans and adding any other unconventional policies.
Teach, coach…lead the flock. Provide ongoing training. Have an open door policy. Provide mentoring and opportunities that your competitors do not offer. Lead by example and follow through on your promises.
Complete an internal audit. Ensure your company’s goals are in line with your employee reward system. Set clear expectations on how you will reward top performers.
Gather employee feedback. Ask your top people why they like working at your company. Ask them why they stay. And ask them what they’d do differently. Use their feedback to make improvements. On the other hand, when someone leaves your company, ask them what made them make this decision. Knowing is half the battle.