Tips On Retaining Great Employees

By Author: Erik Sulivan
Total Articles: 43
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There are employers who do not pay much attention to employee retention, thinking that there are more people looking for jobs and they can easily hire replacements. This is all right if the attrition rate of the company is low, but it's another matter if the exodus of employees is getting more common in the organization. It's a clear sign that you are doing something wrong and you run the risk of losing your best employees.

So why should you work on employee retention? Happy employees will tell other people what a great company they are working for, therefore spreading the word to other great employees and making them interested to work for you. Happy employees do their job right and will do what they can to make your customers happy as well. This is a simple fact that should be taught in all project management courses.

It's in your best interests to retain your employees, an endeavor that is worth investing time and money on. Here are some practical tips on keeping your high-performing employees:

Let Them Know What's Going On

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... Employees like to know what's happening in the workplace, which makes transparency a great policy in the organization. Share them your mission and vision for the company. Let them know the latest marketing ad, the latest award the company's been given, or the financial performance of the office. Inform them of the latest training courses or management courses available to enhance their skills and productivity. This makes them feel informed and valued, attributes that will increase their self-worth. Use social media at your advantage; create a Facebook and Twitter page for the company and encourage your employees to participate. Post the latest happenings within the organization.

Give Just Compensations

We're talking about more than the rightful salaries your employee gets. We are talking about other benefits that will contribute to their wellness and well-being. To encourage your employees to perform better, why not give them performance-based bonuses to be given at the end of the year? Give them a good reason why they should gun for the Employee of the Year award. Give them additional vacation leaves (paid, of course) or transportation allowances. If your company can afford it, why not introduce revenue sharing? This will align your employees' cause with yours and work together for the benefit of the organization. Giving your employees more benefits will give them more reasons to stay.