08 Aug How to Retain Talent and Drive Engagement
Companies around the world lose money simply because they have no clue how to drive engagement and retain talent. Failure to increase trust and thoroughly engage your employees can not only cause a high turnover rate but also can put you out of business if you’re not careful. Here are a few helpful ideas to retain key talent for the long-term.
Reward them for Hard Work
Everyone likes to be acknowledged for their hard work. One way you can do this is through verbal praise. It doesn’t cost anything to stop by a cubicle and let someone know they are doing a great job. The trick is to be meaningful in your approach. You can also do it through a handwritten thank you note or in a private conversation. Be detailed in whatever you say so they know you really mean it.
You can also reward them with a gift card or voucher. Free money is a gift everyone can appreciate, and you can score even more points if you know what their favorite shop or restaurant is. You can do this once a month for the best employee or hand them out randomly to people you know are doing a good job.
Single Them Out
Let your employees know how special they are by celebrating their birthday. Hold an office party with catered food and cake, and maybe even let them leave the office early on their birthday. Company anniversaries are another thing worth celebrating. It shows long-time employees they still matter to the team, thus retaining talent.
Trust is so much more important than managers realise. Studies show that nearly 20% of employees don’t trust their employers. Open communication and being treated fairly are two simple ways you can increase trust with your employees. This also drives engagement and makes your employees truly feel like they’re an important part of the crew. Be stern about reliability and always do what you say you will to increase trust.
These are just a few methods to help you retain talent. Pay attention to your employees and they’ll reward you with their time and ideas.