You thought the hiring process was difficult? Wait until you get to the part where you have to hold on to your great employees with dear life.
It is true that a crucial step for a company’s success is an effective standardized hiring procedure that includes proficient employment background screening, structured interviews with examinations and tests. However, it does not end there. The next challenging step that comes after hiring is over, is the phase where you would have to retain the exceptional employees that you have found.
These employees are important in your company for a number of reasons. They improve the productivity of your company, they boost sales and business opportunities and they contribute well to the establishment of the company’s reputation.
For these reasons, it is imperative that as an employer, you are able to retain these good employees, who are great assets to your company. Remember, it was not easy finding them and if you let them go just like that, you may never find replacements as good as or better than them.
So how does an employer keep his employees healthy and loyal? Here are some vital pointers to bear in mind.
1. Give generous workers compensation.
Excellent employees should not only be given a “reasonable” salary. They should be paid more than the normal wage since their talents, skills and contribution to your company are above average. Not to say that employees are only after the money, but you have to accept the fact that it is indeed the number one motivator for any worker to give his 100% for his job.
Keep in mind that if you do not do this, some other company will and it would surely break your heart if your excellent employee decides to leave you for greener pasteur. You certainly cannot blame your employee for wanting a better life for himself.
2. Provide rewards and incentives
A few occasional treats, like a dinner or a pair of concert tickets of a popular musical artist, will be really nice rewards for a job well done. Of course, you do not have to do this every time because you might spoil your employee but doing this occasionally for an exceptional job performance will surely boost the morale of your worker.
3. Do not be stingy with compliments and recognition.
Appreciation for a task that an employee worked so hard for will motivate him to work even harder next time. This is because he can see that his efforts are being recognized and are not being taken for granted. Recognition must not always need to be a tangible one. A pat on the back or a compliment, “congratulations for a job well done” will surely be valued by your employee.
4. Establish rapport with your employees
Do not be that mean boss who is the center of all major gossips and backstabbing in the office. Treat your employees well and you will receive the same treatment from them. Accept a few mistakes, be constructive with criticisms, and never abuse your employees in whatever way. Remember, some employees especially great ones, will not tolerate cruelty because they know they are good enough to find another employer who will treat them better.
Of course, at the end of the day, you still have to maintain authority so establish a clear boundary where you and your employees can meet halfway. A few jokes here and there are acceptable when you and the employees are outside the office but once you are in it, you should make sure you are treated with respect.
5. Give the right benefits
Your company should give your employees ample benefits such as medical coverage, stock options and other benefits that will make your employees want to stay working with your company.
6. Provide training for career advancement
Exceptional employees always crave to learn more and they will surely appreciate any training or seminar that will contribute to the advancement of their careers and skills.
7. Give promotions
Another factor that would retain good employees in your company is when they see that their career is going somewhere. An employee does not want to be on the bottom level forever. He is working hard to reach the top. Make sure you help him achieve that.
Ultimately, be a good boss. It all boils down to that. If you are reasonable, kind, generous and efficient employer, no employee in his right mind would want to leave your company.
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