3 Rules of Employee Retention
One of the most challenging aspects of leading a business in the 21st Century is competing globally for the talent you need to remain competitive. When it’s as easy for someone to telecommute and work for a company across the country as it is to drive to a local employer, the need to foster retention is important for the ongoing stability and success of the organization. These three rules can help:
Employee Retention Rule One: You Won’t Keep Them All
No matter what kind of culture, atmosphere, and benefits you offer, you will not be the perfect fit for every talented team member who comes along. For some you may be the stepping stone, for others the final call, so don’t try too hard to keep someone who is just passing through. Focus on creating an environment that offers opportunity and open communication to attract and keep the best.
Employee Retention Rule Two: Flexibility Rules
Whether you offer specific programs like job-sharing or telecommuting or simply create a culture in which differences are respected and individual needs served, flexibility is crucial to retaining talented team members. Focus on creating an environment in which each team member feels respected and valued as an individual, and build systems and processes that allow for that flexibility to exist.
Employee Retention Rule Three: Opportunity Matters
Provide opportunities for your existing team members to learn, grow, and gain additional responsibility. Seek opportunities to develop existing talent. Focus on making opportunity a cornerstone of your organization.
It is often much easier for organizations to nurture the talent they already have than to try to bring in someone new. Retention –client and employee – is vital to the efficient and cost-effective growth of an organization. What do you do to nurture talent and improve employee retention in your organization?
As the CEO & Founder of East Tenth Group, Michelle leverages 25 years of business and experience as a strategic advisor and executive coach to help drive actionable people solutions and provide practical insights on business strategy to senior leaders. she and her team and are fiercely committed to the development and growth of people and companies because we believe that when people thrive, business thrives.