5 Cost-Effective Ways to Keep Your Talented Employees from Quitting
Employees quit, and most of them are willing to switch jobs. In most industries, professionals usually change their jobs every three to five years. If workers find their current job unsatisfying, they won’t stay put.
Why Employees Quit
It’s important to know why workers leave so you know what you should fix to ensure it doesn’t recur in the future. People quit jobs for various reasons, and the first reason has to do with the employee’s boss. Like C-Suite Analytics puts it, if employers don’t build trust in their employees, retention becomes elusive.
Other than lack of trust in the employer, people quit their jobs because of the following reasons:
- Not delivering on promises: Do you remember giving out a number of promises while recruiting your team? If you don’t fulfill those promises, employees may leave.
- Company culture
- Not feeling appreciated.
- Lack of engagement
- Inflexible work options
While pay is important, it’s not the primary reason why individuals exit their jobs. Thus, a pay raise alone may not be an effective retention strategy. So, how else do you entice your top talent from departing?
Creative Ways to Entice Your Top Talent from Exiting
- Find out What They Treasure and Offer It to Them
While your team may have shared values, each individual values unique things. For some, it’s a flexible work schedule; for others, it’s compensation. Others want more vacation time or professional development. Giving these people what they value will motivate them to stay.
- Accord Praise and Recognition
Did your team put in extra effort last week than usual? Recognize them. If someone hits a higher sales target or reports to work earlier than they usually do, praise them. It helps to keep employees productive and happy.
- Make Them Trust You
Well, employee recognition can make them stay longer, but only if they trust you. To build trust in your team, admit when you are wrong, communicate with them openly, and allow them to suggest better ways of doing things at the company. Express both authority and care and it will improve retention.
- Open Communication
People like to know what’s going on at work. They want someone to recognize their efforts and want useful feedback to help them improve. Your top performers are usually ambitious and would like to become better.
Offering them with training and coaching creates an opportunity for open communication with them. Besides, provide them with regular, actionable, and constructive feedback.
- Stay Interviews
Typically, most manager/employee meetings are one-way. The manager invites an employee to a meeting to critique him or her about performance. This approach is a one-way street as it doesn’t allow the employee to air their views as well.
Instead, organize a meeting in which you need an employee to suggest ways in which you can improve the working conditions, for example. C-Suite Analytics calls such meetings stay interviews.
