Retention Strategies

As the economy improves and hiring picks up, have you planned your retention strategy? If what we’ve been hearing about how dis-engaged American workers are, your organization may be vulnerable to having your good employees jumping to new positions as they become available. Your top performers are most vulnerable to being recruited by other firms. And, don’t discount the idea that your competition knows who your good people are and they may have plans to recruit them away from you.
So, what can you do? It always makes sense to try and get ahead of the power curve. It’s too late to do anything about it when you get that dreaded message from one of your best employees that they are leaving you for a better offer. To be proactive, consider these strategies:
1. Ask your best employees why they stay with you and use that information to build your retention strategy.
2. Offer flexible hours, telecommuting or other flexible work scheduling to help your employees maintain a good quality of life.
3. Clearly define your culture and be sure your employees know your values and your mission. Don’t just talk about your values—be sure you live them!
4. Don’t micromanage! Hire good people, give them clear expectations and let them do their jobs.
5. Be good corporate citizens. Get involved in your community and make your employees proud to work for you!
6. Provide development opportunities for your employees. This can be through mentoring, coaching, training, or whatever works in your culture and that you can afford.
7. Provide social opportunities for your employees. Today’s workers want to be connected at work so consider bagel breakfasts, afternoon snacks, or after work activities to bring people together in a social environment.
8. Be sure your total rewards program is competitive and fair. No matter what else you do to be a good employer, if you aren’t paying fairly or providing a good benefits package, you stand to lose your good workers.
Don’t wait until people leave to develop your strategies to retain your best talent. Do it now-- starting with finding out why people stay with you. That information will be of significant value to you as you develop your retention strategies.

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