How to Retain Your Good Employees
Integrity Staffing & Solutions
As the owner of a small or mid-sized business, you may be asking yourself: When is the economy going to loosen up? When can I relax a little and invest money in my business? How do I retain good employees when the economy begins to improve?
As business owners remain “hunkered down,” waiting for the economy to improve, they risk losing their most-important asset—their employees—when the economy improves. How does a company engage and retain valuable employees for the long term, given current financial constraints?
To retain valuable employees, business owners should:
- Stay visible, talking to employees and asking for their input on problems the organization is facing
- Provide honest feedback to employees on their performance and coaching in areas where employees can improve
- Recognize and thank employees for their work on behalf of the business
- Have regular discussions with employees to understand their career goals and offer them opportunities to develop skills through project work (i.e. learning a different area of the business).
Employees worry as organizations continue to cut back pay raises and benefits, reduce staff, add more work to remaining staff, and limit opportunities for travel, promotions, training, and development. Don’t let your leaders withdraw. Empower them to answer the “tough” questions, so your employees feel secure in their jobs and increase productivity.
Retain good workers by taking notice of employees who:
- Invest energy in their work
- Think creatively about ways to improve how they perform
- Are proud of the company
- Work hard to provide the best- possible service to customers.
When good employees feel secure, your company can grow.