Recruiting
employees is never easy. Retaining good employees is trickier.
One common
refrain you will hear from your employees who are leaving the company for
greener pastures is, “You know, I loved working here but I need better opportunities
to grow and improve my skills”. And you
are left wondering, what are those opportunities that you missed giving and
other companies offered to draw away your prized employees.
It can get
frustrating when the most talented of your employees quit suddenly, especially
those on whom you had invested quite a lot of time, resources and money. Retaining the performing employees is critical
for your company's growth and success. Here are a few tips for CEOs who are
keen to retain the employees they have groomed and mentored:
Retain
the right person
Not all
employees are worthy of retention. Some departures might actually be a blessing
in disguise as laggard employees are ones you can do without.
But there
are employees who either have the necessary skills and performance capabilities
or have been painstakingly trained and groomed by you to handle varied responsibilities.
When you
are planning measures to retain employees, make sure you know which employees
are assets for the company and you can thus have significant plans for them in
the long run.
Let
employees leave the difficult manager & not the company
Quite
often, employees leave their job not because of the company but due to their
differences with the manager. In such cases, you can allow employees to change
departments and work with the managers they are comfortable to work with.
Give
opportunities
Give
opportunities to your employees to learn new things. As a CEO or a business
leader, it is your responsibility to motivate your employees from time to time.
You can assign them short term goals such as learning about new software or
giving them a chance to lead a project. You can also make them undergo corporate executive coaching sessions to hone their skills.
Offer
rewards
Pay your
employees fairly. Money is the biggest motivator. From time to time, you can
offer increments or bonuses to your employees. It is not just the money that
can make you hold a strong grip on your employee. Even small rewards such as
taking your employees out for a dinner or a movie can go a long way in
strengthening bond. You don't need to indulge your employees all the time.
Offer such rewards occasionally for a good job performance.
Be generous
with compliments
Acknowledge
your employees for the hard work they put in and compliment them. Treat them
with respect. This will boost their morale and push them to perform better.
Even when you criticize, be constructive about it and tactfully convey your
message.
Be nice and
yet assertive
Try to
maintain a good rapport with your employees. As a CEO, you need to maintain a
fine balance. Sharing a joke with employees is fun and healthy. But maintain a
certain authority so that you are treated with respect.
You can
learn the fine art of maintaining business relations and hone your leadership
skills at a CEO club or a CEO corporate association. At CEO clubs, you get to
mingle with experienced CEOs and presidents who can provide you guidance on
retaining your employees and making your business a huge success.
