Retaining top performers is critical to company success. Not only will it keep you as productive as possible, but also help to avoid the costly hiring process. So, what practical steps can you take to keep your best people around? Here are some tips to keep in mind to improve your retention.
Pay your people more.
When you pay your top people above-average salaries and offer generous compensation to match, it will be hard for them to justify leaving. Make sure you research what the average looks like in your industry and bump it up for your people. This will incentivize them to stay with your company for longer. While it might cost you more upfront, it can actually save you in the long run by avoiding costly disruptions from top performers leaving.
Offer flexibility.
Today’s employees want flexibility in terms of how they work. Whether it’s telecommuting, a hybrid schedule, or working flex hours, offer them the flexibility they crave. This will help them to maintain a healthy work-life balance, so they’re happier at work and therefore more likely to stay around for longer.
Encourage open communication.
Let your people speak their minds and voice their opinions, even when they are counter to you. If they feel comfortable speaking freely, then they’re going to want to stay in an environment that values open communication. In contrast, in more toxic cultures where employee turnover is high, workers don’t feel comfortable speaking up because they fear retribution.
Invest in top performers.
When you offer opportunities to learn and grow, you’ll not only invest in your best people, but your company too. Your workers can gain skills and abilities that they can put to use at your organization. At the same time, they’ll appreciate working for an employer that offers growth opportunities.
Show them appreciation.
When workers feel valued and appreciated, they’re more likely to remain with your company. This can include everything from offering extra days off as bonuses to thank you notes, celebrating birthdays and work anniversaries, and providing other rewards. When your employees feel like you care about them, they will be more loyal to you.
Ask for feedback.
As a leader, part of your job is to give feedback to employees. But be sure to ask for it, as well. This way, you can learn about any issues, concerns or struggles before they escalate – and a top employee winds up quitting. So make asking for input and feedback from employees a regular part of your culture.
Need help filling a vacancy?
At Provisional Recruiting, we’re one of Spokane’s top staffing agencies and have connections with a wide range of candidates. We can fill jobs in many industries, at all skill levels, from entry level to the executive office. Simply contact us today to find out more about how we can help you hire top performers – and keep them.