by Debby Millhouse, President, CEO Inc.
Today’s work environment can at times be scary and unstable. As important as it is to employees to keep their jobs, it is equally important that employers be able to retain good employees. Owners and managers with hire-and-fire power cannot get complacent in this economy. You cannot assume that all employees are so terrified of losing their jobs that they will never leave, no matter what. The fact of the matter is that many employees leave jobs not because of an overwhelming reason to leave, but because there is no overwhelming reason to stay.
Here are some tips to make your company an attractive place to come, and an attractive one at which to stay:
- Pay is a motivating factor for most potential employees, no matter their field. Make sure that the pay you offer is competitive. Also, take time to review your promotion and bonus policies, to ensure that they are desirable for future and current employees.
- Promotions and bonuses are meaningless carrots to dangle if employees don’t understand what the benchmarks for those rewards are. Establish and maintain open communication regarding performance criteria and the way your company measures success. Explain each employee’s role to him or her, and provide a support network for achieving goals.
- Give your employees the tools and training they need to achieve their goals. In order for your company to grow, its workers must also grow, and must feel like they can always improve. Provide internal training for employees, as well as opportunities for outside training.
Give employees the tools to stay on top of their field, and your company will be the one within the field where they’ll choose to stay.
