This is a guest post written by the good people at 15five.com
When you run a business, employees are your most valuable asset. Thus, it’s important to make sure you’re taking steps to retain your top performers. They’re key to your success.
Unfortunately, trends indicate that more American workers are inclined to quit their jobs these days than they may have been in the past. You can guard against this trend by implementing effective employee performance management systems and other retention strategies like the following:
Offer Opportunities for Advancement
According to a recent study, offering employees professional development opportunities boosts engagement and retention.
This is likely to be particularly true of an organization’s strongest workers. Those who are dedicated to their jobs want to know they’ll have the chance to rise up in the company. These top performers will want access to resources they can use to make themselves even more valuable to your brand.
Create a Positive Office Culture
Even employees who love their jobs want the chance to relax from time to time. That’s why it’s often a good idea to focus on developing an office culture that allows workers to forge social bonds with one another.
For instance, some newer startups have embraced the idea of an office happy hour, a practice larger companies can too. Every week, gather your teams in a break room and let them enjoy free food and drinks. This makes your workplace more attractive to those who might otherwise consider seeking employment elsewhere. It also allows staff to cultivate friendships; employees may be more likely to stay if they enjoy spending time with their coworkers.
Provide (Positive) Feedback
Feedback lets an employee know how well they’re performing in their role. While it’s important to address areas where they need to make improvements, you should also focus on an employee’s strengths when offering feedback.
Gallup reports that employees who receive regular positive feedback are statistically less likely to leave a job than those who don’t.
Offer Growth Opportunities
An employee might not always be equipped with the skills they need to thrive in a new position. If they struggle for too long without assistance, they might decide they’re better off at another company.
Don’t let strong performers leave because new responsibilities are challenging. Offer your employees educational programs specifically designed to provide them with any skills they may be lacking. Team members will stick around longer if they feel they’re given a legitimate chance to succeed.
According to Gallup, recognizing an employee for their achievements, especially when done publicly, can have a tremendous impact on engagement. This is especially true of top performers.
Those who value their jobs and strive to contribute their best work are typically the kinds of employees who want to know their efforts are appreciated. By establishing a reward system that involves public acknowledgment, you’ll make sure they know you’re aware of exactly how valuable they are.
Again, no company can thrive without talented employees who are committed to their work. With more and more American workers willingly leaving jobs for better opportunities, it’s more important than ever to focus on retention. Implementing these strategies will help.