From the smallest start-ups to the biggest corporations in the world, retaining key talent is one of the only truly effective ways of ensuring that your output is both consistent and of a high quality.
Constantly training new staff is not only costly, but it’s also time-consuming and resource-heavy with a vastly increased chance of losing key data and even clients, if external relationships are a big part of your staff’s job function.
Many managers would argue that with platforms such as LinkedIn tempting key workers with the constant promise of higher wages or promotions – so how can you help your clients retain their key talent?
Make them feel like an asset
A valuable employee that feels undervalued will inevitably have their head turned. It costs nothing to ensure that your employees feel valued; this can be actioned with regular one-to-one meetings, taking on board feedback and ensuring that they are able to truly apply their talent to their position.
Manage expectations properly
To manage employee expectations is to ensure that employees are fully aware of what their job entails and what is expected of them. If an employee feels that their job description is vague or directionless, they will search for greater clarity – even if this comes from elsewhere. Shifting functions is inevitable as time goes on, but this is no excuse for poor communication.
Cultivate a sustainable working environment
No one wants to work in a cubicle under fluorescent lighting for the rest of their career. To ensure that employee welfare is taken care of, employers must be open to changing a work environment to better serve their workers. This may mean creating a more open and diverse space, or it may simply mean ensuring that your staff have an area to unwind in the workday.
Provide clear routes to grow and learn
Inevitably, to remain relevant employees must have clear access to learning and development tools. Education is taking centre stage in the priorities of employees, so ignoring the opportunity to provide such education is ignoring the needs of your staff.
Recognise good work
Giving praise is important, but it doesn’t pay the bills. If an employee is performing well and taking on greater responsibility, retaining them may well come down to their seniority and pay. Ignoring the need for promotions and pay rises is the number one way to create a high turnover, and one of the main things companies get wrong. There is no alternative to providing workers with a career path.