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Build a foundation of value to reinforce retention
If you want your best people to stay with you for the long term, show your commitment to these values.
Your culture plays a huge role in your ability to retain employees, and a culture is built on values.
[RELATED: Hear powerful case studies from Coca-Cola Co., Walmart, and Whole Foods Market in October at Microsoft's HQ.]
If you want your best people to stay with you for the long term, show your commitment to these values:
The best employees don’t want to do the same jobs over and over—they want to learn new skills for their professional and personal benefit. Help them learn and grow by offering training resources that match their interests and needs.
Make a point of telling your people when they do a good job. Get specific—what they did and why it’s important—and share it so everyone knows what his or her co-workers have accomplished.
• Career growth.
Smart, ambitious people usually want to move up, and they’ll go somewhere else if they don’t see a clear route to advancement in your organization. Promote from within, and coach your people about what they can do to position themselves to rise.
After the past few years, most employees have job security on their minds. Don’t hide bad news, but emphasize the good news. Be honest about the challenges, but tell your workforce what you’re doing to stay on course and what they can do to reinforce their own employability and security.
It’s not the only factor, of course, but you can’t afford to ignore it. Stay on top of compensation rates in your industry and community, and keep salaries in line with the marketplace. Just don’t forget to point out the intangibles that go beyond the bottom line, like your culture and values, so employees remember why they should enjoy working for you.
—Adapted from the Preston Inc. website