Your company is only as good as your employees. A staff that's exceptional in teamwork, customer service and selling can help take your business to the top. When you've got great workers, the last thing you want to see is a mass exodus or even a single departure. To hang on to your star employees, you need to create a positive workplace environment that encourages career growth and personal development. Retaining good employees can:
- Keep morale high.
- Maintain momentum.
- Avoid losses in productivity during transition periods.
- Allow you to maintain focus on growing your business.
- Save time and money on training and recruiting.
- Create continuity in the workplace.
Create a positive workplaceNothing scares away productive people as much as conflict so keep the atmosphere harmonious.
Clarify responsibilities and expectationsFor employees to thrive in their jobs, they need to understand the scope of their responsibilities and the expectations associated with their position. Ensure that employees have a clear understanding of their role by providing them with a job description and revisit that job description with them as their role changes and grows.
Business.gov. For a variety of sample job descriptions, check out businessballs.com.
Provide supportIf smart, hard-working employees feel that they don't have the right tools or the proper training to be successful, chances are they'll leave. Enable your employees to do their job and improve their skills with continued education and training.
Offer perksEven though you may not be able to match a mega-corporation's stock options and pension plan, you can offer creative perks such as family time, wellness programs and flex time.
Raise the ceilingMake room for each employee to experience professional growth as your company expands. By creating a career development plan for each employee, you prepare them for success, and you instill a sense of loyalty.
University of California-Berkeley offers an outline on how to set up individual career development plans for employees.
Reward a job well doneIt takes more than just a competitive salary to retain good employees. Showing that you appreciate the work your employees do can be your most effective tool in retaining good staff members. In fact, a survey from Employee Retention Headquarters reveals that the one thing employees want more than anything is appreciation for a job well done.
- Don't wait for yearly performance reviews to ask employees how they feel about their position. Take them to an informal lunch or offer coaching throughout the year to assist them in improving their performance.
- Create an incentive program for all staff, not just those in sales. Measures of success don't have to be sales figures, but can also be great customer service, innovation and efficiency and creative thinking that improves the company overall.
- Encourage all management staff to be approachable and work as a team leader, not a boss, to those who report to them.
- Be prepared that key staff members will at sometime get a better offer outside the company. If you want to retain them consider what you can offer them to stay - better compensation, a promotion or fractional ownership in the company.