We are not as good as we could be at retaining and managing our human resources, and we fall behind in promoting talent well and being efficient in exiting non-performers.
So how do we retain our quality employees?
• Perhaps we eliminate the term “employee” altogether, and replace it with associate, team or staff member.
• Develop our staff to be leaders or future leaders, and encourage participation in decision making.
• Communicate the big picture and allow them to find their own way to the desired outcome.
• Recognise that good leaders set direction and milestones, and watch others achieve them.
• Maximise their potential by continuing development through knowledge transfer and mentoring.
• Offer regular, quality feedback. Performance reviews should not be just an annual event.
Staff like to be recognised for good outcomes and achievements. Give praise regularly as positive feedback on a job well done goes a long way and engenders loyalty.
We are social beings, and by encouraging the development of quality friendships at work you can create a positive and healthy workplace.
While money can be a primary driver, salary and pay are often not the number one reason for staff staying with an employer.
Just as important are work environment, feeling valued and the opportunity for increased training and development. Staff who feel that their employer or manager genuinely cares about them will stay longer.
As Team New Zealand leader, Sir Peter Blake had a great saying: “We pay the very best we are able, and expect the very best performance.” You often hear successful sports teams talking about having a family-like culture.
Your staff should be at the front and centre of your business strategy. They are your key to delivering great results to the people who are integral to ongoing successful business — your clients.