Even though there are plenty of people looking for jobs, finding skilled, talented workers is harder than ever before. Therefore it is essential you retain your current talent.
Here are ten easy, practical ways you can hold on to those individuals you do not want to lose.
- Give top performers opportunities to develop. Providing additional training and responsibilities helps you see what they can do.
- Reward your top performers to retain them. Rewards should be consistent with the value they provide. However do not fall into the trap that rewards must be cash or merchandise. There are hundreds of creative ways to reward talent without spending a dime.
- Keep your door open. Be accessible to your people when they want to talk.
- Provide mentors. Veteran employees can help young talent learn the culture.
- Cross-train top performers so that you can move them around where needed. Younger employees appreciate this as it gives them broadened expertise.
- Show you value talent by treating employees fairly.
- Find ways to help your top performers understand themselves. This will help them manage change better.
- Develop your own standards for top performance. Don't copy someone else's unless mediocrity is OK. Make sure your talent understands the standards and are equipped to achieve the goal.
- How many top performers are enough? Mine for talent all the time, not just when talent leaves or changes jobs.
- Maintain relationships even when people move on. Some talented people return quickly when they find out they do like the new employer. Welcome them back.
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