Retaining the talent you have within your team has a major impact on your ability to scale your business effectively and make customers return again and again. Once you have established a team that meets and beats each of your expectations, they're worth every attempt to keep them. These are the four best ways to do that:
1. Offer Growth Opportunities
Your top talent will find it difficult to look to the future if their future looks the same as what they are doing right now. Your top talent need something to aim for and to have goals established for their future. If their work day looks the same in a years time, you run the risk of losing their interest and giving them the itch for a new challenge to explore. It does not have to be something as grand as a promised promotion, it can be as simple as offering your talent opportunities to learn new skills, to take on extra responsibilities, to explore other areas of the business etc.
2. Recognise A Job Well Done
A study from 2018 found that 62 percent of workers blame insufficient recognition for getting demotivated, turning even the happiest employees into ones who begin to question their role at a company. A demotivated and unhappy employee is likely to let their eyes wander to other opportunities where they feel they may be appreciated more. A little appreciation for your teams hard work equals happier, more tenured employees. Praising in group and one to one settings is a great way to show you appreciate your teams effort during busy times.
3. Prioritise Flexibility
With the new emphasis on working from home, flexibility is becoming a must have for those who want to balance their career with other interests and obligations. Giving your workforce the opportunity to have flexible work arrangements allows for them to feel valued and more importantly, trusted. One study from 2018 showed that 80 percent of workers would choose a job with a flexible schedule over one without, while another from 2019 found that 30 percent of respondents had left a job because the company didn’t offer flexible work options.
4. Promote a healthy and equitable work environment
Some believe people don’t quit jobs — they quit other people. As a business owner, manager or team leader, it is your responsibility to create a healthy and equitable work environment. Toxicity in the work environment is a real reason why many experience discomfort, humiliation and anger among co-workers. It is important that you address any issues and promote a healthy work environment. This goes beyond using trendy buzzwords to create a strong work culture and means putting plans in action to ensure that your team are happy and they look forward to coming to
"Decent employees might be a dime a dozen, but all-star employees are worth their weight in gold."