At last! You have an awesome staff. They’re great performers. You can rely on them to get the job done. They’re team players. They appreciate you and each other.
Now it’s time to give some serious thought to your retention strategies. Why? Because awesome people can be snapped up all too easily by someone else. Even a staff that is very happy can be wooed by higher salary, better benefits and more opportunity for growth.
You also need to make sure they are happy. Don’t just assume it because of their good performance.
An employee leaving is costly. In absolute terms, it can cost up to 100 percent of a middle manager’s compensation in total replacement costs. Having to recruit and hire a new person also impacts your productivity.
What are the best ways to make sure you retain your awesome people? Read on.
Show appreciation for your employees’ work and efforts consistently and fairly. Develop an appreciation plan, don’t just leave it to chance.
Appreciation can be monetary; coming in the form of annual bonuses or awards, such as employee of the month.
It can also be shown to the group as a whole, in the form of praise, a party to celebrate meeting a big deadline, or plaques or other awards.
Informally, be sure to drop by desks and send emails thanking individuals for their efforts.
Most employees like to grow and develop. Make developing yours a priority.
It’s a good idea to make time to discuss their development. Annual or semi-annual reviews can be ideal. It’s a good idea to have a development plan in mind, based on your observations of an employee’s strengths. But discuss their own perceptions of their strengths as well.
Give your top employees stretch assignments as a way of gauging their suitability for further development.
Promote growth on the team
While it’s important to have a development plan for each employee, make sure that being a team player is a growth position as well.
One tried-and-true method is to make different team members responsible for different things. One team member might give the staff report or a presentation to upper management. Another might be tapped as liaison to another department.
Create long-lasting relationships with the employees
While you don’t have to be best friends with your staff, long-lasting relationships can be beneficial to both of you. As they grow in their careers, your network expands. As you grow in yours, your ability to support them and continue their growth expands.
Plus, good relationships make a workplace more pleasant and harmonious than lackluster or bad ones!
Cultivate relationships with your employees. Make sure you know their families, if appropriate, and their hobbies. Know their favorite sports team and how they like to spend weekend time.
A Staffing Agency for Future Growth
Staffing agencies can help you develop retention strategies and recruit people you want to retain. We can help throughout the hiring process. Put Graham Staffing Services to work for you by contacting us today.