Ever wonder why your best and brightest employees keep leaving? It might be because you are not challenging them enough? Maybe they are bored? Maybe they need a way to move up? Whatever the case, you do not want the only employees who stick around to be the ones who stay because they have no other choice. You want your employees to enjoy their jobs, you want employees who love coming to work, you want good employees and you want those good employees to stay with your company.
According to the Bureau of Labor Statistics, the unemployment rate is at 4.9 percent, lower than the 5.3 percent it was at this same time last year. Employment rates are going up, but learning how to retain those golden good employees is always a good place to start. So, here are the top 10 ways to retain good employees:
According to Forbes, the number one way to retain good employees is to communicate in person and on a regular basis. According to this Forbes article, most of the meaning we glean from communication is gained through non-verbal cues. This means that communicating in person is very important to keeping the understanding clear between you and your employees.
Ask and Talk about Future Career Goals
Many times employees do not plan on being the same place, the same position, doing the same thing, and earning the same amount of money for the rest of their life: In other words, they have career hopes and goals for the future. You should try to ask and talk to your employee’s about their future career goals so that you can try to help them with those goals within your own company. If you do not want to lose them, you will find ways to help them grow and move forward with their goals. Try to create growth opportunities for employees you believe could grow into those new positions.
Be Available and Personable
As the boss you need to be available to your employees for conversations about work and even for some small talk. You need to be personable and friendly so your employees feel comfortable coming to you with new ideas and questions.
Make Clear and Reasonable Goals, then Step Back
Make clear and reasonable goals for your employee’s performance then find a way to hold them accountable. You can expect and even demand good work as long as you set reasonable goals and you discuss those goals with your employees. Then, step back and let them work. According to entrepreneur.com, “Great employees know what they are supposed to be doing and when it needs to be done. Constant reminders and micromanaging will drive them right out the door.” Retain your good employees by allowing them to be good employees – give them clear and reasonable goals, then take a step back.
Adjust Goals and Expectations as Necessary
Sometimes your expectations for your employees are way below what they can actually accomplish in that amount of time. Sometimes your goals are set a little too high for a pay period. Talk about your company goals and expectations and adjust them as necessary according to your observations and employee feedback.
Pay Above Standard Rates
If you want your employees to feel that their work is truly valued, you should be paying them above standard rates when at all possible. According to Entrepreneur.com, You should pay, “anywhere from 20 percent to 40 percent over market rate.” It is easier to walk away from a job – even one you like – for another job that will pay more for the same work.
Get Rid of The Dead Weight
If you want to keep your good employees, then you MUST get rid of the bad employees. The bad employees are like a dead weight on your company, you know who they are. They are the ones with negative attitudes, the ones who never or barely make deadlines, the ones who start gossip, and the ones who slow everyone else down and make others pick up the slack. These people are dead weight and they must be removed like a cancer if you want the good employees to enjoy work and stick around.
Encourage Fun and creativity in the Workplace
You do not have to allow texting, or play music all day, or encourage work ball games in order to have a fun workplace. But allowing for some fun and creativity that works within your business is a great way to get employees out of the day-to-day routines which can really brighten up a day.
Award Good Ideas, Behavior, Work, etc.
You don’t have to go around handing out money for every good idea. But awarding good and creative ideas with encouraging words will always be a good idea. You can reward good work and behavior with things like; letting those employees go home a tad early, taking them to an impromptu company lunch, etc. Just let your employees know they are appreciated.
Host Worthwhile Employee Appreciation Activities or Events
Hosting a company party, activity, or event to let your employees know you appreciate them is a great way for your employees to get together, make friends, and realize how much they enjoy working for your company.