4 Ways to Keep your Best Employees

“In February (2010), the number of employees voluntarily quitting surpassed the number being fired or discharged for the first time since October 2008, according to the US Bureau of Labor Statistics.– “More Workers Start to Quit”, The Wall Street Journal
During the recession, most workers didn’t want to take a new job and risk becoming the new hire that would be let-go first if the company had lay-offs. With the economy bouncing back, or at least stabilizing, employees are less wary about taking better opportunities elsewhere.
Who is leaving? Most of these employees are leaving for better opportunities for growth, promotion, and pay. Some are tired of putting up with their current boss, stupid company policies, or politics in the organization.  Here are four ways to keep your best employees:

  1. Give them feedback on their performance. Let them know how they are doing on a regular basis and what is expected of them. Use 360 degree feedback to identify their strengths and areas for improvement. Recognize your top performers for their achievements.
  2. Make sure they have a Personal Development Plan. Use results from a 360-degree feedback assessment to create a personal development plan for each high-potential employee. These employees should know what the organization envisions for them and how it aligns with their personal goals.
  3. Provide learning opportunities for your employees. Whether you fund attendance at workshops, lectures, and webinars or provide on-site learning opportunities matters little. What matters is that employees feel that the organization is willing to invest in their success.
  4. Help employees become aware of promotion opportunities within the company. Let them know what they need to do to be ready for the next step in their careers.

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