Finding excellent employees is a difficult task but your business can’t function without them. To have any sort of sustained success you will need to have a great team around you that shares your company’s mission and vision. However, the issue with great employees is that they are always in high demand. If you’re the owner of a successful business your competition isn’t only looking to steal your customers, they also want to poach your team members. Here are some tips about how to keep your best employees.
Here’s a statistic that may, and should alarm you as a business owner: 71% of employees are currently looking for other jobs. That means that within your company there are probably a decent number of employees who have put in applications elsewhere. While there are certainly instances where you’re going to lose some team members and a certain amount of turnover is unavoidable, investing in leadership development is a great way to keep the valuable parts of your team. Current leaders will be valued and those that are being led will reap the benefits. Don’t be afraid to spend time and money on improving your leaders.
Bending Isn’t Breaking
A recent study indicates that employees often value flexibility more than they value an increase in pay. Thanks to advances in modern technology there are tasks that can be completed remotely without forfeiting productivity. While you may not be comfortable allowing any employees to work from home every day, don’t be afraid to offer the occasional remote work opportunity.
Investing in Them
Employees need to feel valued to be loyal to a company. After all, why would a team member feel loyal to your business if they don’t believe that you and your business are loyal to them? Find opportunities within your company to match up current high-level executives with promising team members. Not only does this create a new sense of purpose for both members of the pairing, it also gives you a well-trained talent pool who is ready to replace those senior members when they retire.
You won’t be able to hang on to every great employee that you have in your company. However, any top team member that you can keep is a valuable part of your team that you don’t have to replace.