How to retain your best people

Retaining good staff is not all about salary. If you’re serious about retaining your top people in a competitive marketplace you need to get smarter about the employment package you’re offering.

The benefits of keeping your top talent reverberate across the business – in customer satisfaction, product sales, satisfied co-workers and reporting staff, effective succession planning and deeply embedded organisational knowledge and learning. 

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Here are some best practice tips:
 

1. Think beyond wages: implement strategies to attract and retain good staff.


Identify what factors would make staff want to stay in your employ and create flexible employee benefits around these issues. Clearly define what is on offer from the outset.
 

Consider offering:

  • Clearly defined career paths.
  • Challenging opportunities.
  • Good work/life balance and flexibility in the workplace initiatives.
 

2. Offer up-and-coming staff the opportunity for professional development.  

Consider offering:

  •  Mentoring by more senior and experienced staff to up-and- coming talent opportunities to take an active role in the leadership team and influence the business’ direction.
 

3. Utilise the skills and experience of your mature aged employees.

Consider offering:

  • Strategies that best utilise their skills, experience, passion, loyalty and commitment e.g. coaching and mentoring young and less experienced staff. 
 

4. Offer all employees the opportunity to develop their skills, knowledge and qualifications. 

Consider offering:

  • Ongoing training and education via conferences, seminars, workshops and apprenticeships.
 

5. Be a true ‘employer of choice’.

Consider offering and encouraging:

  • Balanced and flexible working arrangements for all staff.
 

6. Create a culture of trust and employee engagement. 

Encourage your good staff to feel accountable for staff turnover. Empower them with the ability to make decisions and a difference in this area.


7. Ensure that roles, responsibilities and expectations are clear.


Employees need to understand clearly what‘s expected of them, where they fit into the company’s vision and their importance in this.
 

8. Ensure employees feel they can speak their mind freely.


And listen to them – they are often at the coalface and can bring a new perspective to things.
 

9. Utilise their talents and skills.


Talk with employees and learn about their talents, abilities, skills and aspirations. Offer them opportunities to learn and grow in their careers, knowledge and skills.
 

10. Select the right people in the first place.


Use behaviour-based testing and competency screening. The right person, in the right seat, on the right bus is the starting point.


Credit: Business Propel

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