Retaining your best staff

Retaining your best staff

What can employers do to increase their chances of retaining their top talent? 

Within some business sectors it is normal for employees to jump ship on a regular basis, but a business needs to do all it can to hang on to its best people for the longest possible time.

Clearly pay is an obvious factor to consider but it is not always the only, or even the major, consideration. Pay rises may help but a dissatisfied employee may still leave even if handsomely remunerated. So whether to offer a rise or not depends on the character of the individual as well as the value the business places on them.

If possible introduce flexibility into the workplace: customised hours, alternative shifts or working from home are very popular and allow staff to achieve the all-important work-life balance coveted by many. Working from home can be considered as a pay increase as employees can save the expense of commuting and associated costs.  

Most employees have a desire to progress their career, acquire new skills and have new experiences. Having a clear career path and opportunities for promotion are key ingredients in job satisfaction, especially for professionals.

A typical employee will have already invested time and emotion in their work so often the first place they will look for development and promotion is internally. If opportunities are never available they will look elsewhere to achieve their career goals. 

Like pay, benefits is an obvious way to make a business more attractive to, both potential recruits, and existing employees. Access to mentoring or customised rewards packages are two of many incentives that could be considered. If staff can have control over their retirement, health and financial security as well as their careers they may well become more engaged with the business and less prone to moving elsewhere.

Offering opportunities for employees to give back to their community boosts their engagement with, and loyalty to, the business. Pro-social behaviour positively affects the individuals participating in it, and in return, their workplace.