How to retain your best employees?

To succeed in today’s volatile markets, you need the support of a great team. Building and sustaining a great team is a big challenge for many leaders today. Some leaders suspect that the smart employees are always in the look out for better opportunities and higher pay. Its a faulty assumption that making them smarter does not help. Due to this wrong notion, retaining key players and attracting great talent has become a challenge for many CEOs to grow their businesses.

Most business owners complain about not getting the right talent for the job. Those who have the talent, hesitate to train their talent as they fear that their competition will poach their skilled employees, sooner or later, and this is one of the main reason some leaders stress less on talent development and more on squeezing unskilled work force.

Some of the TIPS to attracting and keeping great talent.

Clarity in purpose gets more people on the bandwagon. People stick with you because they know that they can be part of something big. When a person works for salary, it is his livelihood; but when he contributes towards a purpose he has a sense of achievement. The employee believes in somebody’s (usual an organization or founder’s) conviction of creating a new world of possibilities and contributions for the welfare or betterment of society. They chose to stay with you in your journey because they are clear about your destination.

A sense of belonging creates better bondage. Abraham Harold Maslow, an American psychologist who was best known for creating Maslow’s hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, ranked the need for belonging just above food, shelter and safety. When you feel you belong, it comes with feelings of being wanted and loved, and this makes you feel more valuable and develops a sense of acceptance; thus it can boost your self-esteem. The greatest advantage of creating this need in an organization is, it helps in utilizing other people’s specialized strengths and skills to allow better progress of the group: This applies to every industry.

Culture attracts talent. Tourists are not attracted to destination only because of its architectural wonders, food or scenic beauty, but it’s got be more about the culture of the place and the people. Similarly, people don’t stick in an organization that lacks culture. Culture is the meaning that you give to a practice or ritual. Create a fun, productive and team culture, where people feel belonged. Talents are attracted to working for a company, which is promising a great work culture that has opportunities to learn and grow. For example, Google gets over a million unsolicited resumes every year. People are not queuing up to work for a search engine firm. Clearly they are attracted to the great work culture Google has. Employee empowering work culture not only attracts more talent but also retain the best employees. Having the right feeling and energy in your organization can enhance every investment you make. Contrary to popular belief, this is not strictly in the realm of human resource.

Create a system that helps in acknowledging every person’s work. An individual importance should not be based on profile or responsibilities. Every member is important. One example of a firm using different people’s skills is as follows: If it wasn’t for people from house keeping team, people wouldn’t have a clean, organized place to work from, and if it wasn’t for technicians & inventors, house keeping team would find it difficult to complete tasks, for they need the inventors & technicians to find the right technology and equipments for house keeping. Acknowledging a person’s work will make an individual spend hundreds and thousands of ‘8 hours’ on a daily basis in your organization, contributing towards the growth and development.

Learning and growing: The need to constantly develop new skills and growth is very vital. In fact this is part of our evolution system. Build on their strengths with continuous training programs. Help your employees to develop new skills; when a person is on continuous learning process, it is proved that they are more flexible and adaptable. Create a tangible system, where people development and organizational growth coexist.

It all starts from the Top. The right tone has to be set by the CEO himself.

It’s the leaders responsibility to build a workplace that will have a great culture where employees feel kicked about working. Zig Ziglar aptly said “ You don’t build a business. You build people and then people build the business”. Remember, as a leader you are only as good as the people you surround yourself with. Find the right people, train them continuously, value them generously and empower them to give their best.

 

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