You work hard to find the best people for your business. All the time and resources spent screening, interviewing, following up, and making the final decision are worth it in the end when you finally land top talent.
However, hiring a well-suited individual is a double-edged sword. On the one hand, you’ve added value to your company. On the other hand, there’s no guarantee that this person will stick with you for the long haul. In other words, hiring top talent is only half the battle. Retaining this talent is perhaps even more important, and, in many ways, more challenging.
Opportunities are abundant in Lincoln, Nebraska and other major cities around the country (and the world). In this increasingly global and mobile economy, holding on to your best employees is more important than ever. Here’s how you can keep top talent from leaving your company in Lincoln, NE.
How to Retain Great Talent
It Starts With Recruitment
Companies that boast the highest retention rates attribute much of their success to their hiring process. Indeed, keeping employee retention in mind during recruitment efforts will help you narrow your search by honing in on aspects of your business that matter most. For instance, you should seek candidates that are well-suited not only for the position at hand, but also your workplace culture. You might pose certain questions to potential hires that will give you a sense of their values, loyalty, commitment, etc. Additionally, look for people who have histories of longevity with their past jobs.
Fortify Your Company Culture
Maintaining a well-defined company culture will help you choose candidates that will stay with you. That said, this culture must also be flexible and inclusive enough to continuously engage your people and give them a stake in your business. Simply put, if you want to keep your top talent around, let them at least in part shape the culture in meaningful, constructive ways. You must also keep up with the latest technologies and industry developments. If your business can’t evolve with your best people, they will grow beyond it.
Focus on Leadership Development
On that note of personal growth, one of the best ways to keep top talent from leaving your company is by investing in their continual development. Developing leadership talent within your organization doesn’t just convey your commitment to your people, but also adds tangible value to your business. As your employees expand their skill sets, they become integral parts of decision-making processes that improve your organization. In this way, fostering leadership development increases loyalty and buy-in. Additionally, developing your top talent is a key element in succession planning. The future and legacy of your business depend on retaining strong leaders.
Allow for Some Beneficial Breathing Room
You seek top talent for your business because you want to increase productivity and innovation. Keep in mind, though, that your best people are still susceptible to burnout. Pushing your people too hard is a losing strategy for keeping them around.
If you want your employees to continue adding value to your company, you need to offer them some value as well. You can consider things like offering more flexible hours and remote work privileges. Also, reconfigure your benefits packages to remain competitive and entice top talent for your company. And don’t skimp on your paid time off allowances. Getting away from work is paramount in managing leadership stress and maximizing productivity and retention in the long haul.
Offer Regular Feedback
Communication is crucial to keeping your top talent. Employees deserve praise when performing well, and they need to know when they’re falling behind. Without regular performance management feedback and constructive criticism, your people will remain clueless regarding their performance, potential, and value. This can lead to feelings of frustration and underappreciation, which can result in abandonment.
To avoid these outcomes, remain open and honest with your team members. Conduct frequent one-on-one meetings and don’t rush quarterly or annual reviews. And be open to feedback as well. Your top talent can clue you in to your own shortcomings to help you improve, too.
Onboarding the very best people is challenging enough. Don’t let them slip away. Your employees are your most valuable assets, and you must invest in them accordingly if you wish to continue reaping the benefits.
At Leadership Resources, our purpose is making the impossible possible through people. We aim to do so by helping individuals develop patterns of success that will decrease stress levels and maximize productivity. Contact us here to learn more about what we do and how it can help your business succeed and grow.