How to retain the best talent

Recruiting employees is just the beginning when it comes to building a quality workforce. For the long term health of your business, it is crucial that employers consider how to retain the key members of the team. STL give a roundup of their 8 top tips on how to avoid losing meaningful staff and keep the assets of the team.

1. Nurture an employee’s talent and invest in enhancing their current skillset.

Training is arguably the greatest investment that an employer can make in order to show their staff that they are valued within the business. Boosting morale and increasing performance levels, it is proven that workplaces that encourage the development of staff hold a lower employee turnover. Demotivation is a common reason why untrained employees choose to leave a business, often moving on to enhance their skills and stay up to date with the latest happenings of their chosen industry.

2. Recognise and Reward

It may seem like a no brainer, but employees appreciate being recognised and rewarded for good performances and key achievements. A simple ‘thank you’ can make a world of difference to an employee who may feel that they are not valued.

Unsurprisingly, pay rises can play an instrumental role in retaining staff. A simple bonus scheme that is easily understandable can really work to motivate staff and give a reason for them to strive to meet targets.

3. Ensure that employees know exactly what their role entails

Employees often hold a wide range of responsibilities, and they can be unsure of the tasks that they have to perform on a daily basis. It is crucial that employees are aware of exactly what is expected of them. If they are unsure of their role within the business it can be impossible for them to perform to the set standard. This will have a major effect on morale and demotivate a team, causing them to seek another position.

4. Listen up!

Employees often stay within a company for years if they feel that their voice is being heard. Providing a setting and atmosphere where people feel comfortable enough to voice their opinions, positive or negative, not only makes them feel valued but gives the employer the opportunity to continually improve.

5. Promote from within

Giving employees a clear path to career progression ensures that they see a future within your business and stay loyal. From an employer’s perspective, it is also a cost effective approach and holds the benefit of not having to train a person that has been appointed externally.

6. Ask Questions

It is common practice to conduct exit interviews however, it is also important to gain insight into why long standing employees have chosen to stay within the businesses. Asking questions such as, ‘what are your non negotiables?’, ‘what would you alter?’ and ‘why have you chosen to stay’? can give you a really good idea of what you need to do more of and even your USPs as an employer.

7. Create a work/life balance

It is great that employees are committed and willing to work that little bit extra. However, burn out can cause an incredible amount of stress and even cause employees to underperform in the long run. Whilst it may not be practicable for employees to work from home on a regular basis, it may be worth offering those that tend to voluntarily work longer hours’ flexi-time, giving them the opportunity to catch up on their personal errands and attend work in the best frame of mind.

8. Share the Vision

People like to know that they are making a difference to their team and are considered an asset. Sharing your company’s overall vision and objectives gives the opportunity for them to see exactly where they fit in and the difference that they are making.