How to retain your Top Talent
Look After Your Top Talent
Research recently carried out by the Institute of Leadership and Management (ILM) found that more than a third of ambitious workers are dissatisfied in their current jobs. The research, carried out among 1,400 members of the ILM, found that 34% are likely to change their job this year. The problem of how to retain your top talent is becoming a priority for many companies.
This dissatisfaction leads to many employees looking for new jobs and businesses missing out on talent they have already invested in, which is costly to replace.
So, what can you do to ensure you retain your top talent?
Establish clear cut expectations
Problems arise when goals are unclear, and constantly changing expectations can create unhealthy stress. Make sure your employees know what to do and how to do it – providing a specific framework will empower them be successful.
Create a culture of open communication
Does your business solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees can feel free to contribute ideas and commit to continuous improvement. A process where employees are able contribute ideas will result in them feeling valued and able to contribute to the growth of the business.
Let employees use their talents in the workplace
Engaged employees will often want to contribute in areas outside their job description. Take time to learn your employees’ skills, talents, past and current experience – utilising these extra skills will not only boost the business but employee engagement too.
The best employees will want to grow and develop
Exemplary employees want to learn and grow. Unless employees can try new opportunities and take on challenging tasks, they will stagnate. When employers invest in their employees by providing them with opportunities to learn new skills or knowledge, it signals an investment in their present and future career growth.
Make employees feel valued
Everyone likes to feel appreciated. Make sure employees are treated fairly and that management consistently acknowledge team members for jobs well done and the effort they put into their work. A simple “thank you” is a good first step, however if you’re able to offer greater rewards why not ask what would most appeal to your employees.
Understand why employees stay
Most businesses make a habit of conducting exit interviews, but very few take the time to understand why some employees choose to stay. Asking valued employees for insights into what compels them to remain at the company is invaluable for identifying the factors that are contributing to your employee retention strategy, and for learning if there’s any room for improvement.
For more information on how to retain your top talent contact us at; email: firstname.lastname@example.org or call 01282 686622.