When it comes to effective staff retention strategies, one size does not fit all. The most forward-thinking employers understand that each person has a specific combination of drivers that motivate them to invest their talents and energies in a company. Taking the time to discover what your employees need to thrive will help you to retain top performers and develop them into the future leaders of your company.
Here are some tips to help keep your employees motivated, engaged and committed to your business.
For employees to succeed in their role, a sense of personal ownership in their work is essential. Provide a clear understanding of deliverables and timeframes, and then give them the space to decide how that work gets completed. Be sure to supply them with the necessary information, training, time and resources needed to get the job done so that they can focus on producing their best work. Where possible, involve them in decisions that affect their work and the overall direction of the company. As well as demonstrating your respect for their contribution, this also helps employees to ‘own’ their role and feel connected to the future of the business.
Frequently recognizing and rewarding accomplishments is one of the most powerful staff retention strategies. Boost your employee’s visibility by publically recognizing them at staff meetings or through a business-wide email. Taking the time to say a genuine “thank you” is also an easy and effective way to make people feel valued and appreciated for their efforts. Compensate your employees for their hard work with appropriate monetary rewards (such as a salary increase or bonus) or non-monetary incentives (such as the opportunity to lead a new project) to assist with career progression.
Staff who are engaged and motivated are more likely to be committed to your organization. Each staff member will have unique drivers and values, so spend time establishing what drives your team by following these steps:
Offer new projects and challenges to high performers
Empower your staff to take ownership of their work
Lead by example
Communicate with each employee to set expectations
Allow for regular feedback and appraisals