In today’s world, retaining “A” players can be a big challenge for any organization. Employers need qualified and dedicated people who can contribute to long-term organizational goals. In order for employers to get the greatest returns from their human capital investments, efforts must be made to retain and reward the best of the best.
So, what are the Best Practices that lead to high retention of your top employees? By addressing the following areas and adopting strategic approaches and good employment methods, you are likely to improve employee morale, satisfaction and decrease attrition:
• Meaningful work to maximize work efficiency – Employees should be provided with meaningful work and current tools (hardware, software, machines, etc.) to maximize their value and effectiveness.
So, what are the Best Practices that lead to high retention of your top employees? By addressing the following areas and adopting strategic approaches and good employment methods, you are likely to improve employee morale, satisfaction and decrease attrition:
• Meaningful work to maximize work efficiency – Employees should be provided with meaningful work and current tools (hardware, software, machines, etc.) to maximize their value and effectiveness.
• Healthy Organizational Culture – The culture of the organization should be built using diverse perspectives to optimize organizational performance. A stimulating and attractive culture encourages employees to make decisions and take risks; and shows that trust, open communication and fairness are demonstrated by leaders and a part of daily operations.
• Balanced Work and Personal Life – Employees should be provided with some flexibility at work so they can maintain a good balance in their professional and personal lives.
• Higher Rewards – In order to stay competitive in the marketplace, employers should offer slightly higher rewards packages (i.e., total compensation and benefits package) than similar organizations seeking the same talent.
• Professional Development – Employers should empower employees to pursue certificates or degrees that benefit the organization and allow employees to demonstrate a commitment towards their own professional development. Consideration should be given to subsidize financial obligations and approving flexible work hours to do so.