As a Manager How Can You Affect Talent Retention?
Easy Ways to Improve Talent Retention—and Your Bottom Line
Losing great employees is costly, yet few managers take time to examine what’s causing their star performers to slip out the door or implement talent retention strategies. It’s true that people don’t leave jobs; they leave managers, so what are you doing to make sure you’re encouraging highly engaged, satisfied employees?
Here are some ways you can connect with your employees and show that you appreciate them:
Resist overworking your stars: It seems natural to enlist your most responsible, hardest working employees when you’re facing a critical project with a hard deadline. If you find, though, that your core team on every project is always the same employees, there’s a chance you’re pushing them too far. For some employees, this can feel like they’re being punished for working hard.
Instead, consider a more varied delegation strategy as an opportunity to empower other employees that may be hovering on the outside of your notice. You not only give your best employees a minute to breathe, but you may identify new star players that you didn’t realize you had.
Say thank you: Rewarding your employees in a variety of ways and for both big and small contributions is a great way to keep your team engaged and excited about their jobs. Be specific in your appreciation, noting exactly how a team member’s contributions impacted a particular objective or set of goals. Mix it up, too, giving employees both private and public kudos and learning enough about your employees to make gift rewards personal and meaningful.
Commit to your commitments: If you tell your employee that you’re going to follow up on a graduate plan for them, then do it. If you have a review scheduled with your team member, don’t cancel at the last minute. These are moments that likely barely register on your commitment list, but they are critical to your employees. Not following through makes you seem dishonorable and uncaring about your employees as individuals.
Hire the right people: Creating a team takes a lot of insight into how people work together and how their skills complement one another. Invest in your hiring and promoting process with a tool like a behavioral assessment, which provides objective information on what motivations and tendencies guide your employees’ behaviors. A behavioral assessment won’t replace a resume and interview, but it adds another layer of understanding that helps you choose the right candidate.
PI Consulting Group has the resources to help you develop a talent management strategy that includes a plan for talent retention. Losing employees is expensive, but we can partner with you to administer the Predictive Index, a powerful tool for determining the right individuals to bring on your team and promote throughout your company. Give us a call to talk more about what’s next for your company.