No hiring process is perfect, but if you’re doing things right you’ll eventually end up with at least a few clear standouts in your organization. These highly intelligent, highly motivated employees are one of the most valuable resources you have. Finding ways to retain key employees for the long haul is critical to long-term success at any young company.
With that in mind, here are five simple tips for retaining your key players.
Know What Motivates Them
Your best employees are likely not driven by a bonus check or extra vacation days. Rather these high performers are usually motivated by the prospect of doing exciting work and achieving inspiring outcomes. Learn what your best employees are passionate about and try to give them projects that relate to those interests.
Recognize Outstanding Work
It’s a mistake to try and treat every employee the same. No, you didn’t read that wrong. Some employees do just enough to get by while others do truly outstanding work. You must be able to incentivize the latter if you want to see more of it. Rather than treating your employees the same, find ways to treat them fairly, based on their performance.
Give Them Lots Of Feedback
Key players are always trying to improve. As a result they are almost always looking for feedback from their employers about the work they are doing. Investing your time in these conversations will pay dividends down the road. Be unique with your feedback and show your employees that you want to help them on their quest for continued improvement.
Pay Them What They Deserve
When it comes to your most valuable employees, the risk of losing them far outweighs the cost of paying them what they are worth. Save the aggressive negotiations for another day and simply find a way to offer highly competitive wages and benefits to your best employees. It’s one of the best ways to ensure they stick around.
Listen To Their Ideas
Many high performers exhibit strong strategic instincts. As they master their jobs they often have ideas for how to make things around them run smoother and function better. It is in your best interest to take their thoughts and ideas very seriously, and to give them credit when those ideas pay off.
Follow these tips and you’ll be on your way to retaining your company’s key players; and if you’re looking for standout talent for your team, contact us to learn how JumpStart’s recruiting and talent services can help.