10 Tips on Retaining Employees

 

You and the team worked extremely hard to turn an idea into reality. You may even think it is time to breathe a sigh of relief. The company is up and running now. However, your employees may have different ideas. Do you know what your employees are thinking, and are you worried about keeping them? Retention is paramount in any organization, and there are ways to ensure you retain your most outstanding employees.

1. Know Your Employees and Their Skills
Most well-trained employees will have other skills. When a unique situation arises, instead of hiring outside help for a short-term project, turn to the in-house talent. Let your people shine and offer them a chance to show off a little.

2. Employees Work for You, Not the Company
You may feel at times that your employees should have the same level of commitment as you. Why should they? They are not you, and they do not run the company. When employees quit they are quitting on their boss. They work for you, but they may not have the same level of commitment to the company as you. You cannot force anyone to have a passion for something. You and the company must earn that. Often times in large organizations you are the company as far as the employees are concerned.

3. Never Be Vague About Pay Raises or Earning Potential
Your people work hard, and you may tend to take their outstanding performance for granted. They are paying attention to see if you are paying attention. You pass out praise, and may comment about how hard work will pay off. Talk honestly, and if raises are cost prohibitive at the time, say so. Employees are assessing your worth, just as you are theirs. Give pay raises that are warranted. Pay increases are an investment in the company.

4. Keep Your Word and Be on Time
Many managers fall into the trap of assuming they do not have to follow their own rules. Schedule meetings and be on time. Communication is critical, and you need show that it is a priority for you, and the company.

5. Impartiality Is Essential to Employee Retention
No matter what happens everyone must believe they all have the same chance. Every decision must be unbiased. Individuals will give up quickly if they feel you play favorites.

6. Provide Proper Training and Ask Why an Employee is Failing
Ask yourself if the employee is failing you, or have you failed them. Individuals can be intimidated when they are not sure of themselves. Training makes employees confident in their skills. They are more willing to undertake challenges. Institute proper training seminars, and follow up on everyone’s progress. Co-workers training each other on the job will fail on many levels.

7. Make Sure Your Open Door Policy Is Not Locked Away
Have an open door policy, and not just a blue binder gathering dust somewhere. Employees need to know their grievances will be heard.

8. Employees Need to Be Evaluated Honestly and on Schedule
Make sure they know the purpose of the evaluation: is it for a raise, promotion, or something else? Make the session count, as the boilerplate questions and answers do not do anyone any good. Honest assessments and feedback is critical for retention. Give everyone a benchmark that you would like to see met before the next evaluation.

9. Partner up with Your Employees
You want employees to have the same commitment and level of passion as you, so give them a reason. Commitment, trust and joint decision-making are the hallmarks of a partnership. Well-trained employees are as likely to leave in uncertain economic times as any other time. This is particularly true in technology fields. Offer your valued employees opportunities for advancement; you can be assured other companies will. Allow them to help the company grow. Simply put, ask them for their help.

10. Money Is Not Everything, So Why Does It Enter into Every Decision
Companies, when they know an employee may leave, start tossing figures around. Employees when they know they are being treated like the bottom line will want to leave. Compensation is important, but it is not everything.
Mid-level managers must be trained to be managers. Leadership is not inherent. Training builds confidence in managers as well as employees. Employees will respect anyone who motivates them. Motivate and demand more as their skill levels increase. Know your employees limits and do not overstep yours. Your employees are experts in their field as are you, but no one will know everything. Working together to find the answers is still called teamwork.