Employee Retention Strategies For Corporates

It happens very often in companies – just when they are on the brink of a major deal, their star employee leaves the firm to go join their competitors. It’s alarming, shocking, but commonplace enough. So what is it that makes a high-performer – one whom you have given extra attention, training and boost to, choose to switch jobs so suddenly?

The good news is that it’s not because you didn’t train him/her well – there’s nothing you could have done differently with regards to this particular aspect. According to Eric Jackson, it’s because you don’t actually treat them as being important to your business, even though you may keep saying so. Employee retention starts way down from the entry level itself, when you make your start employees feel like valued partners working towards your firm’s success.

 

Here are some ways in which you can do this:

Encourage Participation: Make them feel like they are an integral part of the company’s success – like they really did have a part to play in the business. You can do this by communicating with your employees constantly and keeping them updated about the latest events taking place within the company, and by giving them the opportunity to influence business decisions to as much of an extent as possible. It makes them feel more responsible towards your business and makes them want to do more for your company, for a longer time.

 

Give Credit When Due: So your employees have done a fantastic job on a particular project and your business has reaped the rewards. But ensure that when toasting to the project, every individual employee’s contribution is personally congratulated in coming together collectively to make it happen. If you don’t acknowledge their efforts, why would they want to continue working as hard?

 

Offer Mentorship: Just because you think an employee is capable of handling numerous responsibilities doesn’t mean he/she can do so without the occasional hand-holding. That’s the whole point of having superiors anyway – people subordinates can look up to for guidance when they are facing challenges. Check in with the employees regularly to stay updated about their progress on projects and encourage them to discover new growth opportunities within the company.

 

Offer Growth and Development Opportunities: No employee likes mundane work – especially not the high-performers. To get the best out of your employees, constantly challenge them by making them work on new, interesting ideas at work. This will boost their creativity and give them an opportunity to develop their skills and learn new skills. It will also help employees discover what they are really good at or passionate about, and encourage them to put in their best into the work they really enjoy.

 

Provide Assistance: In an increasingly mobile world, employee relocation has become commonplace. Having said that, relocation can be an extremely stressful experience, in such a scenario it’s important that the HR department step in to ease the stress and help employees settle into the new environment faster. Organizations can choose to do this in-house, or seek assistance from companies that offer Corporate Relocation Services.

This entry was posted in Employee Mobility and tagged , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>