One of the greatest frustrations for employers is turnover. You hire carefully, train thoroughly, and just as an employee to be hitting their stride, they decide it’s time to move on. Where did you go wrong? What does it take to retain your best and brightest rather than losing them to a competitor? Consider what REALLY makes a star employee stay.
It’s been said that people don’t leave jobs, they leave managers. Scrutinize management hires closely to be sure they match your management style and corporate philosophy. Look for leaders who inspire employees to excel and make them feel valued. They should be adept at recognizing the abilities of each direct report and developing them to reach their potential.
Top employees want to believe they are part of something larger than themselves. They will be unfulfilled by jobs that are not much more than a list of daily tasks to check off. They want to know how the work they do contributes to the purpose of the company and the larger community as a whole. Be sure the people whose careers you wish to nurture understand the why behind what they do and the decisions the company makes.
Another reason many people cite for leaving a company is that they were no longer being challenged or there was no path for advancement. Avoid losing good people to this issue by laying out a clear promotional path for star employees. Find out what they want most from their career and do your best to help them achieve it without leaving. That might be as simple as introducing them to the right decision-maker to make a lateral move or get on a path to promotion or as involved as providing tuition reimbursement for an advanced degree. Go out of your way to identify each employee’s potential and mentor them to success.
In a scene from the television show Mad Men, copywriter Peggy Olson complains that her boss, Don Draper did not give her credit for an idea or even say thank you. Don’s response was, “That’s what the money is for!” That sort of attitude may have flown in the 1950s, but it’s not enough if you want to keep star employees. Let them know you appreciate their efforts. If they are stars, chances are they are going way above and beyond their job requirements. If you can’t show your appreciation, they will find someone who will.
One of the best ways to retain top employees is by hiring worthy peers. The experts at Timpl would love to help you hire your next star employee. Contact us today!