Your employees are the key to the lasting success of your company. It’s essential to have a solid team in place because excelling at their jobs requires more than just a generic skillset.
Losing a good worker always hits hard, but it’s even more problematic when the person has been with your company for quite a while. When they leave, long-term employees take knowledge with them that can’t be transferred to their replacement.
Resources spent training new hires — and lost knowledge from their predecessors — can quickly take a major toll on your business. This is why it’s important to keep turnover to a minimum. Here’s some advice to help you achieve that.
Acknowledge Outstanding Efforts
Your team doesn’t work for compliments, but they also don’t want to feel undervalued. If you rarely — or never — stop to recognize employees’ hard work, they definitely notice. It’s hard to keep giving your all to a boss who takes you for granted, so stop letting your team feel this way.
When an employee goes the extra mile, take the time to thank them. Stop by their desk, send an email, or call them out in a staff meeting — whatever method you think they’ll prefer — to let them know you noticed and are grateful for their efforts.
Create Room to Grow
Top talent doesn’t want to stay in their current role forever. These people have big dreams for their career, so if your company doesn’t offer room to grow, they’ll be forced to head elsewhere.
Avoid this by having regular one-on-one discussions with employees to learn more about the direction they want to take their careers. Meeting often will allow you to check in and find out what you can be doing to support their goals. Make it clear there will be a place for them to grow on your team, and when they’re ready, keep your promise — even if it means creating a new position.
Provide Attractive Salaries and Benefits
Money dictates your employees’ standard of living, so it’s important. If you’re not paying competitive salaries, people likely have to make uncomfortable sacrifices in their personal lives. Therefore, you can’t blame them if they feel compelled to find a similar job at another company with better pay.
Of course, salary isn’t the only part of a compensation package. Perks can also make your company more appealing than your competitors — sometimes even if you can’t afford to pay as much as other employers. Benefits like the ability to work remotely, flexible work hours, continuing education opportunities, a pet-friendly office, and an onsite gym can really sweeten the deal.
Choose New Hires Wisely
If your current hiring approach mainly involves reading resumes and hiring the most qualified candidate on paper, this is a problem. Cultural fit should be your number one screening criteria. After all, skills can be learned, but personality traits are innate.
Need help finding employees who want to be part of your team for the long term? Malone Workforce Solutions is here to steer your search. Contact us today to discuss a partnership!
