How to Keep Employees Who Are Too Valuable to Let Go

How to Keep Good Employees

With so many opportunities the world has to offer today, it’s getting harder and harder to retain the best workers in your company. If one of your key employees has decided to pursue another opportunity, it doesn’t mean you’re a bad employer, but you may want to find out what the person was missing in your organization.

Millennials have all grown up, and their view of life is totally different compared to the past generations. They even have been called the job-hopping generation for switching jobs all the time: some people want to travel the world, staying in each country for a few months, whereas others are eager to find their passion by changing workplaces and even industries.

While this may cause some issues for HR managers and employers and have a negative impact on the company’s overall efficiency, there are ways to make the workers, who have become too important to let go, stay. If you know how to keep good employees, you can build a reliable, committed and dedicated workforce that will lead your company to success.

Why Employee Retention Is Important

As mentioned above, keeping key workers is essential for the success of your business. It has been proven that keeping your best staff members can ensure customer satisfaction, increase revenue, and create a positive, friendly atmosphere within the organization in general.

Not to mention that if a group of people have known each other for a long period of time, they communicate better, which leads to the creation of a harmonious team, improved teamwork, and well-coordinated processes.

If you need concrete figures, check this out: the cost of replacing a single worker can range from one-half to two times the worker's annual salary, and that's a conservative estimate. This includes recruiting, hiring, and training a new employee, who might turn out to not be suitable for the job position at all. So, you’ll need to do the same thing over and over again until you find a good fit.

Conducting an exit interview can help you gather all the reasons for people leaving your company, which can be analyzed and be worked on later.

Retention Tips

Of course, you must know how to keep an employee who has played a big part in making your business successful, but we recommend looking through these extra recommendations. See if you still have room to grow when it comes to making your organization a healthy and positive place to work at.

1. Make sure your workers know what you expect from them

If an employee is not sure what results they should be striving for, or the goals are constantly changing, this causes unnecessary stress and puts the worker under a lot of pressure.

2. Provide career opportunities

We as humans are biologically programmed to want to grow, develop, and learn new skills. Employees who don’t have or see any career growth within a company often feel useless, depressed, and are likely to find another job sooner or later. If you can’t offer any professional growth at the moment, provide opportunities for employees to share their skills and knowledge with the help of training sessions, presentations, and team assignments.

3. Offer a nice benefits package

It’s not just about compensation – people may also expect life insurance, performance bonuses, flexible work hours, PTO, remote work, health insurance, etc. Surely, you don’t have to provide all of them, but depending on your industry, location, company policy, offering some extra benefits would attract good candidates and might even play a key role in their final decision.

4. Make employees feel appreciated

Employees often leave their jobs due to issues or even conflicts with their managers or bosses. It doesn’t mean that it’s always a supervisor’s fault that the person is leaving, but in many cases, companies lack transparency, trust, and communication. Make each of your staff members feel valued and important, learn their names, and make sure the supervisor-supervisee relationships are open and transparent.

5. Create a positive and healthy work environment

A change is as good as a rest, so offer different kinds of activities to your employees, be it free coffee, snacks, a fitness center, or even a yoga room. Throw costume parties for your employees and their plus-ones, celebrate workers’ birthdays – nurture organization traditions so that your staff, as well as yourself, feel like you’re one big happy family. There are about 260 working days each year in the US, so making two or three of them a little less professional would not make any difference in terms of your company productivity.

6. Encourage a Work-Life Balance

Consider allowing flexible working schedules or starting times. Working remotely has also proven to be an excellent way to dedicate more time to one’s family without ruining productivity. Even if you can’t let your employees work from home 100% of the time, think about giving them a couple of days per week when they don’t need to visit the office physically.

7. Do not threaten a worker's job or salary

Even if you know many employees are going to be fired due to economic or other reasons, don’t foreshadow what you know with your staff. It will only make them even more nervous, even if you try to break the news gently. You should not keep solid performance away from employees but think twice before saying anything that could make your staff go online in search of a new job.

Finding Good Employees With Talenteria

Without a doubt, retaining the best workers takes a lot of effort. Even if you know how to keep employees, it never hurts to implement new practices to increase employee engagement. Your workers need to feel motivated, appreciated, valued and heard if you want them to stay for as long as possible. 

But as difficult as this may be, it’s even more challenging to find top talent to add to your team. With so many job seekers on the market, how can you attract the right ones? This is where Talenteria, the nation’s premier career site builder and recruitment marketing platform, comes in. Reach out today to learn how we can make your recruiting processes much more effective.

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