How To Keep A Valuable Employee on Your Payroll: Managing expectations, facilitating expression of ideas, points of views & the tools of opportunity to prized workers.
From large corporations to small businesses, your employees are valuable to the success of your company. Losing a valuable member of your staff can be a financial, moral, and time-consuming loss, and there is no guarantee you can find a capable replacement. As an employer, you should do everything in your power to retain the members of your workforce and create a work environment that encourages loyalty and longevity from your employees. Here are 6 actionable tips you can follow to help keep your valuable employees.
Expectation, management, and reliability
Making sure your employees know what is expected of them is important and often overlooked. Many employees complain that a lack of clarity in their jobs leads to underproductivity and becoming jaded. A good employer should have clear objectives and expectations and a strong line of communication when working with a member of staff. With that in mind, quality management and supervision are also keys to an employee performing their duties efficiently and stress-free. You must make sure to fulfill your obligations as an employer like managing employee wages, paying on time, offering a good bonus or incentive packages are all good ways to retain your employees. You may think about investing in a good software system for payroll to ensure your staff is paid correctly and on time.
Making sure your employee’s voices are heard is extremely important for morale and loyalty. If your staff doesn’t have an opportunity to express their feedback or concerns, or they feel that they can’t ask for help, they may start to feel isolated from management or speak about their issues behind your back. Creating an environment that is safe for your employees to express themselves could help you improve your employee retention.
Your employee is unique
Identifying your employee’s unique skills and talents can help improve morale and efficiency. A study by Harvard professor Francesca Gino suggests placing a premium on the individuality of your employees can increase retention by almost 50%. Being aware of your employee’s specific talents and skills, and assigning work that utilizes their unique qualities can provide employees with more motivating and rewarding work and your company can benefit by accessing more of your employee’s potential.
Fairness and its perception are key to keeping a balanced and harmonious staff. Making sure there is parity between your employees when it comes to job roles and experience and that pay and perks are in line. Making a clear structure that employees can follow and aspire to can help motivate and reassure that there is fairness and that good work is rewarded. Avoid favoritism and be as transparent as possible when it comes to wages, promotions, and perks.
Providing the tools and opportunity
Making sure your employees have the tools and training they need for the job you have set. Throwing your employee in at the deep end, or assigning work they are inexperienced in can add unnecessary pressure. Make sure you provide everything they need for the job, if that means some extra hours of training or support, it should be provided by the employer.
Along with the tools to be capable at the job, you should provide the opportunity to learn and grow, and to improve at the job. If an employee feels there is growth potential and that they can learn or develop skills in your company, they may be encouraged to invest their time and energy for something more than just a paycheck. Offer your employees the opportunity of a career, provide the tools for growth and give them the help they need.
Top-down relationships and compliments
Companies are built on relationships, from the CEO to the laundry lady, it’s important everyone does their part to better the company. No member of staff should be overlooked and it’s important to provide an opportunity for people to get to know each other. Team building days, excursions, and special celebrations are all great ways to get your staff together to bond away from the workstation. If you are a manager or boss, it’s important to build relationships with all your staff, and make yourself known as a person, not just a boss. Always remember to compliment a good job or effort, try to control anger or disappointment, and always be appreciative of the people that are putting their time and effort into your business.
By following these tips, you can not only keep your valuable employees, but you can improve the productivity and morale of your workplace. Retaining the staff that makes your company special and unique is the way to build and grow a company as a community, not just a workforce.