As was related in the first part of this article, when companies are unable to retain their employees a number of problems can occur for their organization. One of the most apparent issues is the amount of time and money that a company must invest when they are hiring and executive search process, which if a company keeps losing its employees, will be a process that will be in perpetual motion for any length of time. The more valuable an employee becomes when they are kept longer and develop a deeper understanding of the company. They are also able to grow in their positions and become more effective and efficient.
Now, here are the final five employee retention tips that have been identified by executive search firms to better prevent companies from facing any unnecessary losses.
6. Always Acknowledge
The simple act of acknowledgement can make an employee feel like an important and valuable member to the organization. This can be easily accomplished by taking a few minutes out of the daily basis of a manager’s time to periodically check with their employees on a one on one basis. This also gives the managers valuable information on how the employee perceives the company, so it not only benefits the employee, but in the end, also the company.
7. Rewarding Success
To go along with the aforementioned point, acknowledging success is another way to ensure employee optimism. It doesn’t have to be anything elaborate but a simple acknowledgement of their work and achievement, don’t forget to thank them for the efforts on their part of the company. Let them know they are appreciated and a valuable part of the company and you look forward to seeing their efforts in the future. On the other hand, an employee will likely view the company unfavorably if they get overlooked on success that has gone unaccredited.
8. Three Keys to Success
If a failure occurs in the workplace on the part of an employee, it is usually due to the absence of one of the three key factors that is required to achieve success. These factors are tools, time and training. If an employee does not have the training required to complete a task, the task cannot be reasonably completed. Each one of these factors are essential to the employees success in the workplace and the managers have to make sure each of the critera is met before anything can be assigned.
9. Growth Through Training
Employees can feel added value by continued training or educational courses offered by the company. This not only adds greater value to the individual and the company by allotting them the prospect of a future promotion but it also keeps them stimulated in the workplace as well. Another adavantage to this sort of training is promotion within the company, this is so you don’t have to train someone outside of the company who is completely unfamiliar when you can train someone within to do a job that’s higher up.
10. Never Threaten
Success needs to be rewarded, as was mentioned earlier, however, it is imperative that shortcomings and failures never result in the employee getting threatened. An employee’s job or salary should never be threatened or held over their head because they will eventually surrender to the stress and start looking for another job.
Published by Conselium Executive Search, the global leader in compliance search.
