Keeping Your Best Employees
Keeping Your Best Employees
Every successful company has its share of employees that far exceed the abilities of some others. The absence of these individuals would be felt quickly if they decided to leave your company. Top employees are in high demand and keeping them is not always an easy task. According to one survey of 3,500 senior executives, 76% said they were actively seeking new employment. Fifty-eight percent said they had been offered at least one job during the past year. Keeping our top performers happy so they don’t take another job is a job in itself, and one you must learn to do.
It is a misconception that you can keep top employees by offering them bonuses and pay increases. Employees who changed jobs within the past five years said lack of communication, management inefficiency and career effect on family life were more important considerations than money in the decision to change jobs, according to a study by the Families and Work Institute. A Gallup Poll found 78% of Americans think interesting work is a key element to job satisfaction, but only 41% think their jobs are interesting. Only 43% of Americans are satisfied with their jobs, according to a poll by Louis Harris and Associates.
So what can you do? Offer your valuable employees challenging and creative assignments to keep them loyal to your company. Ask for their input when creating their job descriptions and encourage them to give you their ideas and thoughts. Provide them with training whenever necessary and make sure you emphasize that there is room to grow within the company.
Ask employees directly what motivates them and find out what is important in their lives. For example, if one employee likes time with his family, consider offering the person a more flexible work schedule or an extra vacation day from time to time. Most importantly, make sure your employee’s know you care about and respect them, not as workers but as human beings.
Your top employees are your company’s best resource against competition. Consequently, maintaining employee satisfaction should be the number one business goal of your company.