The art of retaining employees
When good employees start searching for another company to work for, it’s a disaster. After all, employees are the face of an organization. They build strong relationships with customers and vendors; they know the ins and outs of an operation; they train new hires and indoctrinate them into the company culture. On top of that, when a company loses great employees, it hurts customer retention and the morale of the rest of the team. Engaged employees are creative, productive, motivated and brimming with good ideas. Not only will they stay, they’ll be fully committed to their jobs and to the company’s success. Here are 3 secrets that would allow an employer to keep them intact:-
- Invest in their well-being:
The best retention strategy is one that focuses on the individual, and encourages employees to drive their own development. Leaders need to make investments to understand each employee’s competencies, and what they want to achieve in order to provide personalized experiences for on-the-job learning.
- Take mentorship duties:
Though the co-existence of multiple generations in the workforce has been maligned at times, formalizing a mentorship program will encourage knowledge sharing between veteran employees and freshers. Develop rich co-worker relationships, and build loyalty throughout the organization. Those who are experienced can advise less experienced employees, and millennials can share their understanding for emerging technologies. The collaboration will improve performance across the board.
- Be willing to let them go:
Though it may seem counterintuitive, develop your employees being fully aware that they may spread their wings and move on to new opportunities. Often times, leaders who develop internal champions are hesitant to let employees go, not wanting to lose their skills and knowledge to another department or company. But a good manager will consider the bigger picture. When employees know you’re investing in them— testing their limits and rewarding them, they are happy and more likely to want to stay and grow with your organization.