Your top employees are incredibly valuable to your organization. These people are constantly finding ways to save your company money, increase efficiency and bring in new business, so what are you doing to retain them? If your answer is “not much,” it’s time to get to work.
A 2014 Jobvite survey revealed that 71% of the U.S. labor force is actively seeking employment or at the very least, open to finding a new position. In fact, 35% of people admitted to changing jobs at least every five years. Top talent has their choice of companies, so you need to step it up to ensure they stay put.
5 Top Strategies to Retain Top Talent
Not quite sure what your top employees really want? Keep them satisfied by putting these five strategies into action:
- Offer Competitive Pay: Top talent knows what they’re worth. If you’re not willing to pay them a competitive wage, they’ll have no problem finding another company to step up. Use sites like the Bureau of Labor Statistics and com to see what other organizations in your area are paying employees in similar roles.
- Provide Learning Opportunities: The best and brightest employees always want to be ahead of the curve. Keep them intrigued by sending them to conferences and training sessions where they can learn new skills and gain insights on the latest trends impacting your industry. Your company will benefit from this too!
- Be Open to New Ideas: Smart and motivated employees want to work for a company where they feel heard. Keep them happy by listening to their ideas and being open to change. There’s no need to implement concepts that don’t make sense for your organization, but a willingness to hear what people have to say is greatly appreciated.
- Promote from Within: When you’re at the top of your game, it’s incredibly discouraging to be passed up for a promotion by an external candidate. Your best workers are really good at their jobs, so if you don’t offer them room to grow, they’ll be forced to go elsewhere to move up the ladder.
- Make People Feel Valued: Your top employees don’t work hard so they’ll receive praise, but even the most humble person appreciates acknowledgement for a job well done. Create a culture of respect, where people feel like their contributions really matter. Feeling like your efforts are appreciated hugely impacts employee satisfaction levels.
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