Today’s economy is robust. That’s the good news. The challenge is that most qualified people are employed, so it’s becoming more difficult for companies to attract new, qualified employees.
Although there needs to be a focus on hiring new employees, there is not enough focus on keeping the talent you already have. In this employee-driven market, the focus on employee retention must improve to keep great employees and attract qualified new ones.
How to Develop and Keep Great Employees
Training Is Critical:
- Include Everyone. Provide learning and growth opportunities for each and every employee, manager and executive.
- Budget Is Not an Excuse. The reality is, you can’t afford not to promote, coach, manage and train current employees. Budget for, rather than cut, the actual dollar amount available per employee for training, education reimbursement or other internal and external learning opportunities.
- Focus on Soft Skills. While technical skills are important, many times communication, managing people, critical thinking, project management and other soft skills are overlooked. These skills have become more important as younger people take on management roles. To get the most out of the advanced training you provide, make sure employees are ready to for promotion and leadership roles to use it.
- Offer Variety. Digital learning, group interactions and one-on-one sessions are equally important. Include opportunities to role-play…this will reinforce and fine-tune new concepts.
- Library of Resources. When a problem arises (and it will), have a library of online resources and books readily available. Also, provide mentors and coaches to help guide practical applications.
- Include “Why.” Employees today want to know why something is important for them to learn. Don’t skip this step.
- Public Workshops. When it’s not reinforced, new training will only impact people for a day or a week. Debrief and focus on three key points they should develop. While new ideas and methods can make a positive difference, if they’re not effectively introduced, they have the potential of turning a team upside down.
- Cross-training. Employees will develop a broader awareness of how their job impacts their company and customers when they have the experience of working in different departments.
Use Qualified Assessments. This is the best way to broaden employees’ perspectives on how to better communicate, work with team members and manage their work so it doesn’t hinder others’ efforts. It also provides a reality check about why some employees excel at certain work activities but others don’t.
Just-in-Time Coaching. We all have blind spots. A coach can help us uncover them. While internal mentors and coaches can be helpful, an experienced coach from outside the company often provides a broader perspective and customized approach to resolve persistent issues.
Be the Right Boss. A bad boss is cited as the No.1 reason employees leave. Today’s bosses need to be effective people managers. While they tell everyone they like working with people, it would be detrimental to their future career opportunities to admit they don’t like managing them. Create different career ladders that include management and non-management roles, along with a commensurate pay scale.
Flexibility Is Important. Most employees value a flexible work schedule, opportunities to work from home and other work/life balance options. These are often more important than a pay increase or a new job title. Some would actually take a small reduction in pay if they could work fewer hours and be able to travel, participate in humanitarian work or spend time on their side gig or with family.
Appreciation. Take time daily to acknowledge and thank employees for their work efforts. It shows you value their contribution, and it goes a long way toward employee retention.
Focus on developing and keeping great employees. It will improve the company’s culture, increase employee retention and attract new, qualified talent.
©Jeannette Seibly, 2018
Need a speaker or facilitator to successfully address company issues? What conflicts have you been ignoring that need to be resolved for a successful 2018? Contact Jeannette Seibly. She will provide confidential, laser-focused coaching that works!
Jeannette Seibly has been called a catalyst. She is celebrating 25 years as a business coach, advisor and consultant who guides her clients to achieve unprecedented results. Are you ready to focus on employee retention? Are you willing to make simple and effective changes? Check out her website , or contact Jeannette for a free confidential conversation.