Today’s focus is on employee retention and a few actions you can take to keep your “A-players” around to promote the good health of your company.
Today I’m bringing you part one in my two-part series that will aim to help you with retention and employee engagement. They go hand in hand and are equally important in your workplace environment, but they’re also distinct from each other, so I’ve decided to focus on retention for part one.
Retention is the ability to hold onto the “A-players” in your organization that you value greatly and, in the event that they were to leave, would leave big shoes to fill.
Granted, there are times where we don’t take issue with or may even want an employee’s resignation if that particular person is underperforming or if they pollute the culture you’ve worked to build. That can be viewed as an opportunity to top-grade that position and hire someone who adds to the culture and is a stronger fit.
With the labor market as tight as it is today, though, it’s especially important not to lose your most indispensable players or even those who are one rung down from that.
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Retention is the ability to hold onto the “A-players” in your organization that you value greatly and, in the event that they were to leave, would leave big shoes to fill.
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Retention is the ability to hold onto the “A-players” in your organization that you value greatly and, in the event that they were to leave, would leave big shoes to fill.
Here are a few things you can do, tactically speaking, to bring about greater retention in your organization:
First, conduct performance reviews and convey what your employees are doing well and the areas where they can improve. Rather than seeing it through the company lens, make the review about the employee, and gain a richer understanding of where they’d like to be in both the short term and long term.
Seek to understand what skills and experience they’ve developed that make them feel their job is worthwhile, as well as those that they’d like to fine-tune and develop further, so they can realize their greater potential.
As a final tip, although compensation isn’t one of the top two reasons employees leave to pursue new career options, your employees’ compensation should be commensurate with the market standard when accounting for the skill set and experience they bring to the table.
Stay tuned for part two where we dive into employee engagement! If you have any questions or ideas for a future video topic, please let me know. I’d be happy to have a conversation with you!
