It’s hard to get ahead when you’re constantly losing top employees to your competition. If your company has become a revolving door of talent, it’s time to nip this problem in the bud.
Every time a key staffer leaves, you lose the institutional knowledge they gained while working for your company. This is in addition to future contributions they would’ve made if still part of your team. Here are a few tips to keep your best and brightest employees in place, because your company really needs them.
As the boss, you have a lot of responsibility weighing on your shoulders. It’s perfectly understandable if you’re hesitant to lose control, but you can trust your best workers. You took care to hire bright, hardworking professionals, so take a step back.
This will allow you to have more time to focus on other priorities while giving them much-needed breathing room. Constant hovering might make you feel more secure, but it’s driving them away.
Pay Them a Fair Salary
Your brightest stars are passionate about their work, but that doesn’t mean they don’t need to earn a fair living. If you’re paying below-average salaries, people may be forced to move on, because they literally can’t afford to work for you. Use wage data from the Bureau of Labor Statistics to research average salaries for their job title and industry your local area. If their paychecks are below average, try to find room in the budget to bump them up.
Give Them Room to Grow
Top talent is on the rise. These ambitious professionals are eager to learn, grow and move up the ranks. If your company doesn’t offer room for advancement, they’re forced to move on, no matter how much they enjoy being part of the team.
Avoid this by having managers discuss future plans with top talent in one-on-one meetings, so you know what they’re working toward. Let them know you want to help them advance at your company, even if that means creating a new position for them.
Recognize Outstanding Efforts
The best employees don’t need or want compliments every time they complete an assignment. However, these people contribute a great deal to your company, so don’t neglect them. When someone exceeds your expectations, let them know you’re very pleased with their work. It’s only two little words, but a simple “thank you” from the boss means more than you realize.
Find Top Talent Today!
Having trouble finding a great new job in Northern Indiana or Southwestern Michigan? Wood Staffing is here to assist. Contact us today to secure your dream job.