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You Got ‘em, Now Keep ‘em

Guest post by: Betsey Nash

Article Overview: How do you keep your star employees, especially in a monetarily flat economy? Does it require more than just "a raise"? Money is not always the key.

You Got ‘em, Now Keep ‘em

OK, the layoffs are over and you have terminated the few remaining bad apples. What's left is golden and you lie awake at night worried that every other business in town may want them, too. If not, maybe you should. As much as we believe that anyone presently employed is overcome with gratitude to be working at all, it won't be long before that'll wear off. Especially if they don't feel appreciated. Then you'll have to come up with some retention strategies or they may seek the greener grass over the fence.

In order to know how to let your employees know they are appreciated, you need to know why they work. Is it all about the Benjamins? Security... if such a thing exists right now? Benefits? Here (in no particular order) are the top 10 reasons for job satisfaction, as listed by employees (1) according to the Society for Human Resources Management (SHRM):

1 - 3, listed above

4. Work/life flexibility

5. Communication with senior management

6. Feeling safe at work

7. Management recognition for performance

8. Relationship with supervisor

9. Autonomy and independence

10. Opportunities to use skills and abilities

The Gallup Organization took a similar survey and came up with the Five Factors of Engagement (2) at Work. Notice the similarities:

1. Highly involved with their work

2. Feel a sense of well-being

3. Psychological factors:

a. Meaningful work

b. Safety

c. Supportive managers and co-workers

d. Availability

e. Resources available

4. Good relationship with their manager

5. Consistent and honest communication

Nowhere in either of these lists will you find a reason to appreciate a boss who acts like a dictator or a milquetoast. The manager has to be engaged, too... in the employees' work.

This seems to indicate that we can still retain our best employees, even when a raise is out of the question. So, when in doubt, ask. Local authors Beverly Kaye and Sharon Jordan-Evans (3) suggest interviewing your golden employees before they exit:

• What will keep you here?

• What might entice you away?

• What is most energizing about your work?

• Are we fully utilizing your talents?

• What is inhibiting your success?

• What can I do differently to assist you?

I know the news is all about money, but there are other steps you can take to keep your employees from leaping over the fence once the relief of even having a job wears off. (1) SHRM 2007 Job Satisfaction Survey

(2) Engaged: the extent to which they commit to something or someone in the organization, how hard they work, and how long they stay as a result of that commitment.

(3) Love ‘Em or Lose ‘Em: Getting Good People to Stay. 2005. Berrett-Koehler Publishers, Inc. San Francisco. ISBN 978-1-57675-327-9

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Article Tags: appreciation, economy, money, raise, star employees



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