by Doug Coley
Great employees are leaving good companies. Many employers allowed themselves to become complacent during the waning economy a few years back. Today, with an improving economy, the tide is turning quickly.
The client companies I work with shared these 6 top strategies for keeping their best people:
- Do your research. Find out how you compare within your industry and use that as a starting point. How does your company compare to your direct competitors? First, consider local direct competitors. Next, look at how your company compares to similar companies in your geographic region. Then, find out which of your people are doing well and which ones have need for improvement.
- Engage with your people. Meet with your employees regularly to discuss their performance and expectations. Do your star performers feel like their careers are on track? Coach those employees who need a little help.
- Recognize accomplishments and success. Challenge your people to build their skills. Then, recognize their accomplishments.
- Take stock of your company’s work conditions. Extremely rigid work rules are often cited as the #1 reason that good people leave otherwise good companies today. Build in some flexibility in work hours and work-from-home options. More than ever in the past, people are seeking good work-life balance.
- Take a good look at your benefits package. Determine which benefits are of importance to your key employees. Then, consider increasing benefit levels as needed to encourage your best people to stay with you.
- And one last thought…hire the right person in the first place. Concentrate on hiring based on skillset, rather than chemistry. Not every candidate hired has to match your personality. It is far better to have a mix of personality types on your team. Hiring based on the right skills will increase the odds that the person will enjoy a long and happy tenure with your company.