If one of your top employees walks out the door, all the work you put into recruiting them goes out the window. Not only are you back to square one, your profits just took a hit. According to the Center for American Progress, the cost of replacing an employee who makes $50,000 or less is about 20% of the employee's salary. The cost of replacing a senior executive? An astounding 213%.
Keep the following tips in mind, and you'll have an easier time retaining great employees.
Give employees challenging work. Saddling a great employee with boring work is wasting an asset. They'll get demotivated and quit. Great employees like to go above and beyond, so give them opportunities to excel.
Show them the big picture. Tell them how their work fits into and supports the company's strategy.
Reward them with money and perks. A great employee expects a competitive or above-average salary. Meaningful perks, like flextime, bonuses, daycare centers and so on help make your workplace more attractive. Things like foosball tables, free lunches and massages can seem novel at first, but don’t affect an employee's decision to stay or not.
Engage with the employee. Drop into their office or cubicle for a chat. Return emails and calls promptly. Say "thank you" and "please." Build a relationship of trust. Above all, communicate, communicate, communicate.
Acknowledge their achievements. Did your department produce extraordinary results? Give credit where it's due – to your team. And when things go wrong, take responsibility.
Give feedback. Ambitious, high achievers like to know how they're doing. Tell them what's good and bad about their performance, and how to improve.
Provide opportunities for training. Being singled out for training tells the employee that you think they're worth investing in.
It takes hard and consistent work to retain great employees. Follow the above steps, and you'll keep your employees happy, productive and loyal.
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Venkat Raju T
Freelancing (Domestic & International)
Visit . Study . Immigration . Work Permit
Voice : +91-888.60.90.789
email : tvr@8886090789.com
skype : tvr.freelancing
facebook / twitter / linkedin :: tvr freelancing
www.8886090789.com
follow us on http://tvrfreelancing.blogspot.in/
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Keep the following tips in mind, and you'll have an easier time retaining great employees.
Give employees challenging work. Saddling a great employee with boring work is wasting an asset. They'll get demotivated and quit. Great employees like to go above and beyond, so give them opportunities to excel.
Show them the big picture. Tell them how their work fits into and supports the company's strategy.
Reward them with money and perks. A great employee expects a competitive or above-average salary. Meaningful perks, like flextime, bonuses, daycare centers and so on help make your workplace more attractive. Things like foosball tables, free lunches and massages can seem novel at first, but don’t affect an employee's decision to stay or not.
Engage with the employee. Drop into their office or cubicle for a chat. Return emails and calls promptly. Say "thank you" and "please." Build a relationship of trust. Above all, communicate, communicate, communicate.
Acknowledge their achievements. Did your department produce extraordinary results? Give credit where it's due – to your team. And when things go wrong, take responsibility.
Give feedback. Ambitious, high achievers like to know how they're doing. Tell them what's good and bad about their performance, and how to improve.
Provide opportunities for training. Being singled out for training tells the employee that you think they're worth investing in.
It takes hard and consistent work to retain great employees. Follow the above steps, and you'll keep your employees happy, productive and loyal.
-------------
Venkat Raju T
Freelancing (Domestic & International)
Visit . Study . Immigration . Work Permit
Voice : +91-888.60.90.789
email : tvr@8886090789.com
skype : tvr.freelancing
facebook / twitter / linkedin :: tvr freelancing
www.8886090789.com
follow us on http://tvrfreelancing.blogspot.in/
---------------------------------------
Send Friend request at Facebook for latest updates
--------------------------------------------------
