Wednesday, July 25, 2012

Five Ways to Win Back Your Best Employees

In today’s corporate world, it is not enough to keep employees employed and satisfied, but you also to keep them “engaged on a day-to-day basis,” says Laura DiFlorio, a regional director of Nobscot Corporation who specializes in the best ways for retention management.

One of the biggest challenges for companies today is retaining those star employees. While engaging them is no small task, replacing such a quality employee is even more difficult. As the job market recovers and more opportunities arise, employees will leave for better ventures.

Take action against an employee exodus and follow these five steps to connect with employees, increase morale, and reduce company turnover.

1. Give employees the freedom to speak their minds. One of the first priorities for any office is to create an environment where employees feel free to give feedback. If employees feel that they need to stay silent and keep ideas or opinions to themselves, they will be more apt to leave for employers who appreciate their insights.

2. Ask them what’s on their minds. One of the best ways to gauge how employees feel about their company and their jobs is by conducting a survey. If you do decide to conduct one, make sure that all responses are anonymous (people will feel more comfortable and you will receive honest feedback), and actually use the responses. Employees will be expecting that their surveys are taken seriously, and that you are really listening to their concerns.

3. Don’t underestimate the power of the exit interview. While it may not change the employee’s mind, it can help you retain others. When you identify the factors driving a person to leave, you may be able to address those issues before you lose another employee to a similar issue, as the chances of someone in your company feeling the same way are high.

4. Use your employee's talent. Career development is one of the top reasons why employees leave companies. Employees want to feel that their career has direction, and offers a challenge. “Your talent really wants you to know that they have skills, and they want to use those skills, says DiFlorio. Also, make sure that you are communicating opportunites with your employees. “Senior executives might have a true path for a person but if the person doesn’t know about it, he or she is going to leave,” warns DiFlorio.

5. Get a fresh perspective from new hires. Companies are now surveying their newest hires, from two weeks to 60 days into the new role, to reduce turnover. New employees are more apt to tell you exactly how they feel, because there is not as much at stake. Remember to use their results to help make your company a better place to work.

Keep in mind that the actions you take to ensure employee retention is only effective if you communicate it to your employees. Make sure your employees know the actions are you taking to ensure they have the best work experience possible, and your company will retain top employees.

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