Improve Employee Retention

Improve Employee Retention

Experts estimate that top performing employees produce 25 times more than just an average employee.  The simple truth is that you can’t afford to lose these people.  But, these are also the people that every other company out there would like to add to their team.

So what can you do to make sure your best people don’t jump ship?

The first step is to identify those people, and then learn what type of awards or recognition are important to them.  Here are a few suggestions to get you started:

  • Pay attention.
    Show your employees that you value them and their contributions. Tailor HR and benefit programs to meet the needs of your unique workforce. This may mean moving to flex time, PTO, or offering more choices in healthcare plans and adding any other unconventional policies.
  • Provide ongoing training.
    Have an open door policy. Provide mentoring and opportunities that your competitors do not offer. Lead by example and follow through on your promises.
  • Set clear expectations on how you will reward top performers.
    Ensure your company’s goals are in line with your employee reward system and follow through on promises.  Nothing is worse than when an employee meets their goal and you neglect to follow through on your promises.
  • Talk openly with your top employees.
    Ask your top people why they like working at your company. Ask them why they stay. And ask them what they’d do differently. Use their feedback to make improvements. On the other hand, when someone leaves your company, ask them what made them make this decision. Knowing is half the battle.

Bonus tip: Use your top performers to create hiring benchmarks.
At Peoplelink, we help companies source and hire top-performing talent.  The first step in hiring great people is to identify what traits, experience and personality characteristics make up a great hire for each job function in your company.  Start with looking at your existing top performers to uncover similarities and then create benchmarks you can use for your next hire.  And, if you would like help in creating hiring benchmarks or sourcing and screening candidates we would be happy to help.