Losing your top talent can affect more than just your productivity; it can also hurt your bottom line. It can cost thousands of dollars to onboard a new employee and replace someone who just left. Understanding the high cost, keeping your top talent can save you money and keep you moving. If you need strategies to retain your team, consider these four ideas.
Give them room to grow
Providing opportunities for growth is twofold, meaning you need to consider both professional development and advancement within your company. Investing in your employee and showing them a potential path can boost their commitment and desire to work for you. If they feel stuck, they’re more likely to look for something new.
Monitor your managers
Too often your own managerial staff could be the problem. A common saying is “people don’t leave companies, they leave managers,” meaning you may be doing everything right, but if their supervisor is problematic, then they may look for something new.
Check in with all of your employees, including managers, to learn about potential issues before they result in someone leaving. These conversations can find the roots of conflict and boost your retention.
Cultivate your company culture
Similar to a bad manager, a toxic culture can send your top people in search of something new as well. When you spend a large chunk of your life at work, you want it to be in a place with a positive environment and a productive workforce. With so many companies making this a priority, you’re unlikely to keep people if you neglect this area.
Focus on feedback
Your employees want to know how they’re doing–good and bad. Constructive feedback is desired because they want to keep improving. But you can’t stop here. Simply telling them how to improve will make them feel unappreciated for everything they are doing well.
Set up specific programs designed to recognize your team for their good. Whether it’s bagel Fridays, pizza Wednesdays, raffles, drawings, and more, find a way to motivate and recognize your team. If you don’t, someone else will.
We’re here when you need top talent
Despite your best efforts, your employees are still going to leave. When that happens, save time and money by working with Sterling Personnel! Learn more about how we can assist with all your staffing needs.
