Every year companies lose valuable employees due to many factors. The turnover rate for top employees is at an all-time high in the United States; mostly due to lack of proper leadership. Losing good employees can end up costing the company lots of money and time. To hire and train a replacement is a very expensive endeavor. Below you will learn 10 ways to keep your best employees working for you.
Keep your employees in the loop
Nothing is worse than lack of communication in the work place. Good employees often leave companies that don’t interact with workers on a regular basis. A great way to keep employees informed about what is going on with the company is to hold regular weekly meetings.
Let your employees have a voice
If you allow your workers to speak their minds, you just might learn something. Letting them have a say in how the company is run will keep them involved and productive. If a worker has good ideas, listen and follow through with it.
Set goals for your employees
Set clear and achievable goals for workers. Often times an unmotivated worker will feel bored and move on to a more challenging job. People like to feel needed; so setting companywide goals is a great way to keep those top workers happy and productive.
Give workers feedback
Whether positive or negative, letting employees know where they stand will keep them from wandering off. Performance reports are a great way to achieve this goal and should be given on monthly basis. Feedback is a great way to show you care and that you have noticed just how hard your good employees are working for you.
Show you care
Good leadership skills are a vital part of retaining employees. Letting your workers know you ‘ve taken notice of their hard work is a part of that. If a worker goes beyond the call of duty and finishes a project ahead of time, do something to reward them.
Create a fun work environment
Workers who feel bored will not be as productive and are more prone to leave. Play games, take breaks and conduct team-building exercises. These are great ways to break up the monotony of the working day and allow your workers to feel like a team.
Give bonuses for a good job
Workers who get paid more for working hard will stick around longer. Bonuses are a way to say thank you. Companies who give bonuses are often times more productive than those that don’t.
Give them a chance to move up
If you allow your employees a chance to move up in the company, they are more likely to stay. Workers who feel stuck in their job will often move on.
Nothing drives good workers away more than stagnant wages. Giving a cost of living raise once a year is a great way to keep your good employees working for you. Looking forward to a raise will keep workers happy and working hard.
Treat them the way you want to be treated
Respect goes both ways. Treating your workers with respect will make them feel valued. Yelling at employees is never a good idea. If you want to keep your good workers interact with them in a professional manner at all times.