“Business leaders who adopt the attitude that anyone is replaceable, thinking they can simply hire someone with a greater skill-set or someone with a more prestigious pedigree, are fooling themselves. When a company has a truly great employee, that employee carries value that simply cannot be replaced.”
“…other employees to have reason for pause, thinking, “Why would that person leave the organisation, and why would the organisation let them get away? Is there something wrong with this company that I should be worried about? Perhaps I should start looking elsewhere myself!”
Not only will other employees question it, but clients often question it as well, asking the very same questions that your other employees have, “Is there something wrong that I am unaware of? What would have caused that employee to leave? Should we be out looking for a new vendor?” The ripple effect of losing a great employee is tremendous and it goes well beyond what is easily quantified…
“Companies who want to retain their top talent need to be willing to show them appreciation, compensate them well, and treat them with the respect they deserve. At the end of the day, it won’t be a great product or service or technology that makes a company succeed – it is great people that make a great company. Appreciate the staff you have, who dedicate their time and talents each day to make your company a success, because those are the people who cannot be replaced”
Four key factors help you to hold onto great employees. How?
You don’t need to bend over backwards and give them what they (say they) want and need from you, their employer.
Flexible working hours, home working options, time off at short notice, more flexible holiday bookings, a bigger desk or warmer space to work in, a plant to cheer the place up or just a smile from you now and then can help!
You have to check what underlies what they say – simply more money can mean they feel undervalued and under-appreciated!
Give them encouragement, thanks, appreciation, a treat now and then- and that bonus you keep on promising but never deliver!
Keep your own, grow your own and keep them keen with normal, polite thanks, respect and recognition for a job well done! They will return that favour five fold if you do!
Challenge, stimulation and achievement are important to most people, if not all. Not too challenging but achievable, stimulation mentally and physically maybe, or using their natural talents or skills they’ve trained for… personal to them, important for them and essential if you use it right for your business! A purpose, objective and targets …
Money is the fourth need of employees – feeling valued, being fulfilled and stretched, and their values being reflected by your organisation are more important than money. Ask any small business owner too! They would rather struggle than give something for nothing – no acknowledgement, no thanks and no recognition where it’s deserved. That’s why great employees leave and start up on their own!