Employee Retention Strategies - How to Keep Your Star Employees

Imagine you are sitting at your company’s annual meeting, watching a member of your team give a presentation on future revenue.  To all other employees, this will seem like a typical presentation but suddenly it dawns on you…this employee is a true asset to your team and organization. In fact, they are an exceptional employee, and the company is better off because he or she is a part of it.

Stumbling upon a great employee doesn’t just happen - you must go through an entire hiring process to get to that specific point of finding an exceptional employee. Now so far you have done everything right: you appealed to the employee with a comprehensive job description, you conducted a successful interview, brought them on board, and finally trained the employee to effectively do their job.

By all appearances, you think you are done with the hiring process, but do not be fooled, there is one final, and less obvious, step - keeping that star employee on board.

It’s hard to deny that money plays a role in keeping great employees on board, but don’t fall into the trap of thinking this is the only incentive to keep employees at your company. There are many other incentives that play a role in an employee’s commitment to a company. Like every relationship, employee and otherwise, communication is key and can be the secret to keeping your great employees happy. As a manager or supervisor, there are many ways to communicate effectively.

Conduct “Stay Interviews”

A one-on-one conversation, known as a “stay interview,” allow you to address individual employees and find out exactly what drives them to come to work every day. Stay interviews can be a conversational tone. Keeping them casual will help employees relax and open up about their work experiences.

The conversation will also give you the opportunity to get insight and figure out what it is that makes the employee stay at the company which can be very helpful in managing both current and future employees.

Assign Challenging Projects

When it comes to retaining great employees, managers must be held accountable for more than occasionally touching base. Managers need to be mentors - they need to inspire and challenge their employees. One way to do this is by working directly with the employee on new and challenging projects. Discuss the companies goal, mission, and how their individual work aligns with that mission.

Great employees should know their specific role in attaining company’s goals and that they are a valuable asset to the company.

Encourage Employees & Praise Hard Work

Another simple communication technique is is to offer praise and gratitude to employees. Encouragement can be extremely underestimated but is necessary to build an employee’s confidence, while giving them deserved recognition of their hard work.

At times, there will unfortunately be circumstances outside of your control, meaning there is no guarantee that your best employees will stay despite your best efforts. However using these simple techniques, staying proactive and communicating with your team will give you a much higher chance of keeping them happily on board.

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