Your employees are one of the most valuable asset your company needs for survival. The company needs employees to be operational, functional and possibly profitable. The kind of employees you hire will determine among other things the performance and productivity of your company.
Losing employees can be quite costly. Hiring comes with costs including job candidate search, conducting lengthy interviews, and training, among other issues which can cost up o a year’s salary of a middle level manager! Fostering a happy work environment is very important in ensuring employee retention.
How to keep the best from leaving
Set goals. Employees need motivation to perform and one way to do this is by specifically defining what you intend to achieve at the end of a given period of time. Your employee also needs to understand exactly what part he/she has to play to contribute to the whole good of the company. As such, it is your duty to ensure that your best employee specifically understands his/her job description. This way, you will be making the employee to feel important and useful for the organization, thus reducing chances of him leaving.
Speak candidly about your expectations. One of the most important questions to ask yourself as a manager or company owner is, “How enjoyable is the work environment to employees?” A jovial, lively work environment provides your employees a platform to voice their complaints, air their views, criticize and comment on various issues. This in turn fosters a relationship in which the employee feels worthy and free to commit to improvement. If the work place does not offer such a free platform, employees are likely to be unable to voice their concerns or fears. Generally, this makes it hard to communicate things they wish to; which may make some leave when they start feeling that they are not being listened to or valued.
Recognize and encourage talent. More than often, many employees have other abilities and talents outside their work areas which can be useful to the improvement of your company. It is your responsibility to try to realize the potentials of your best employees, and look for ways to maximize their use consequently. Allowing your employees to extend a hand here and there even outside their work areas can be quite motivating and encouraging for the employee to stick with you.
Reward accordingly. Everyone loves to be recognized and rewarded for a job well done. Money, though the most commonly used form of reward, should not be the only way to do so. Sometimes simple things like sending a card, saying thank you, sponsoring a vacation or even holding a lunch to say thank you is reward enough! That not notwithstanding, rewarding your employees sends a message that you appreciate the good work done and this can be reason enough for an employee to stick with you.
Ensure quality supervision. Statistically, a large number of employees leave managers and supervisors and not companies. Usually, supervisors are the closest people to employee and the relationship that exists between these two groups can either motivate or prevent employees from leaving. If your supervisors are the “bossy” hard to get along with kind, then you are likely to lose employees frequently. It is important therefore to ensure that your supervisors do their job not by bossing around but rather by guiding the employees on the right path.
The bottom line is, whether you are running a small local or a multi-dollar international organization, employees leaving should worry you. Employee retention prevents lose of cash, waste of time used in the process of hiring and fosters coworkers security and happiness which translates to better performance and productivity for your company.
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