Attracting and retaining talent is something that all great leaders should be thinking about. Your true power is in your people, and it makes sense for companies to want to retain those employees who drive progress and always put their best work forward.
Keeping your best team members at your organization directly translates to an increase in productivity and even overall company profits. On average, a higher retention rate can maximize a company’s bottom line by mitigating the costs of turnover, and that’s not even considering the personal benefits that come with working with the same dedicated people over an extended period of time.
However, holding on to great employees is much easier said than done. People hold an increasing variety of positions at more companies than ever before, and career paths are no longer as straightforward as they once were. Still, there are a few ways that I have found work best to hold on to people. It involves a lot of work from leadership but helps set up the company in a way that makes employees want to stay with you in the long run. beout channel
Accept them for who they are.
To retain talent, it’s crucial for leaders to learn to accept their employees fully as people, not just core members of an organization or specific team. Each and every person you hire is an individual with their own thoughts, opinions, emotions and personal experiences. Everyone is unique, and it’s time that companies started thinking about their people in more human terms.
The best thing you can do is to let your employees present their full personas at work as opposed to just a work persona. Take into account the things they share that make them special. This also goes a long way towards creating a work culture that values acceptance, tolerance and diversity.
Give them opportunities to grow.
As the company evolves, let your employees evolve as well. Give them new titles, new roles and new opportunities to grow both inside and outside the office. The importance of this can’t be overstated, and according to one survey by Willis Towers Watson, more than 40% (download required) of employees believe they need to leave their organization to advance their careers.
It only makes sense that stagnant growth opportunities in your company would ultimately make some of your most talented employees seek out other roles where their skills would allow them to grow. You can’t expect someone who is hardworking, intelligent and resourceful to do the same thing over and over, and it’s only natural that they would eventually gravitate towards a company that seeks to elevate their career.
Offer them trust and freedom.
Once someone has established themselves within your company and really proven that they’re able to contribute, you have to loosen the reigns a little. Give employees independence to work within their own boundaries, and give them the flexibility to do their job to the best of their abilities. Resist the urge to micromanage your best people, and demonstrate that you trust their abilities and thinking by letting them structure themselves and their work in a way that makes sense for them.
When an employee feels trusted by their employer and has the freedom to do their work on some of their own terms, it will make them more willing to stay on board at your company in the long term.
Connect with your employees.
At my own company, we’ve adopted a teal organizational structure. It’s a structure that is based on independence, a flat hierarchy and fluidity in roles and positions, and I think this has been one of the most important factors in retaining our top talent.
I would encourage companies to look at their values and how they give back to others on a deeper level. According to a survey by Reward Gateway, only 25% of employees feel connected to their company’s mission. If your business is working to make the lives of others better, then your top talent will recognize that and feel more a part of the bigger company picture. This is the way I have been able to work with the same talented people for decades, and I think it all comes down to seeing your team members as human beings who do so much more than drive profits.
