How to (not) lose a talented employee
Employees are the lifeblood of any successful business. However, it is often easy for executives to overlook their efforts and put growth down to ‘good management’ or a ‘positive market’.
This is a worrying trend as employees that don’t feel their contributions are being recognised or that the business is helping them, could possibly start walking away. It will only be then that a business will wonder how they let such a hard-working employee go.
A recent Robert Half survey highlighted the circumstances under which employees would want to leave their current job. While 38 per cent of the 300 employees polled indicated an inadequate salary or benefits, there are plenty of other reasons to consider.
Robert Half senior executive director Paul McDonald said employees often want more out of a job than just money.
“Managers also need to focus on offering advancement opportunities and fostering a supportive workplace. Businesses lacking in these areas – or any of those that create a positive work experience – are likely to find a higher salary alone won’t keep talented professionals from leaving,” he said.
What should employers provide for employees in order to retain them?
- A career path
Offering opportunities to advance their career is usually well received by employees. Show people how their skills can translate into higher positions and more responsibility in the future. Identify future leaders and senior staff and engage them with professional development training sessions to ensure their commitment moving forward.
It is also important to set goals for employees. If they working towards something tangible like a monthly target or deadline, then they will feel more in control of their career path. Through HRMS, businesses can define and track goals easily to ensure employees know where they are in relation to their career direction.
- A sounding board
Although they work in silence, many employees want their voice heard by higher management. Schedule regular meetings to check up on progress and offer the opportunity to hear grievances and potential issues.
New and innovative ideas are more likely to be voiced when employees are given an open floor.