Learn the Art of Retaining Employees

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.