Why do employees leave?
Don’t like the boss / toxic environment
Get a (much) better offer
No link between performance and pay
No prospects of advancement
Why do employees stay?
Incentives & bonuses
Keys to Keeping the Right People
Keeping the right people involves little acts that will enhance performance, motivate, and maintain job satisfaction among your employees. There are four keys to employee retention that you might want to follow to achieve the aforementioned goal:
The First Key: Be a company people want to work for. Your company must establish a culture that models, encourages, and rewards commitment of employees; and at the same time, attracts prospective employees by having the reputation of a “company that people want to work for.”
The Second Key: Select the right people in the first place. Recruiting, hiring, investing, and rewarding employees with the needed talent and skill will promote mutual benefit, both on the side of the employer and the side of employee as well.
The Third Key: Get them off to a great start. Welcoming, valuing, preparing, and challenging new employees at the very beginning will give them the necessary motivation and appreciation of the work that they will embark on for the years to come.
The Fourth Key: Coach and reward to sustain commitment. Maintaining employee commitment is an essential role that management must perform. Management must recognize the employee’s results and efforts,and facilitate career growth.
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Do I have what it takes?