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Will Your Talented Employees Stay

Written by: Dr. Vincent Kituku

Article Overview: We are at the end of three years of an employers’ market. Lack of job opportunities has kept employees who might want to leave for greener pastures and those who are dissatisfied with jobs, bosses, or their work environment put. Even in industries that traditionally experience high employee turnover, there has been little movement. Because people have had nowhere to go even when they have wanted to, leaders have not had to “Love them or lose them.” It has been easy to, “Use them and they will stay anyway.”

Will Your Talented Employees Stay

We are at the end of three years of an employers' market. Lack of job opportunities has kept employees who might want to leave for greener pastures and those who are dissatisfied with jobs, bosses, or their work environment put. Even in industries that traditionally experience high employee turnover, there has been little movement.

Because people have had nowhere to go even when they have wanted to, leaders have not had to "Love them or lose them." It has been easy to, "Use them and they will stay anyway."

However, experts concur that better economic days are on the horizon and as a leader, you know that your dissatisfied employees will leave when the job market improves. This will be mitigated by the available unemployed workers seeking employment. If, however, key, talented employees choose to leave, you will face a major challenge. Replacing employees in key positions can cost employers up to two times the employee's annual salary. You don't want to spend money this way, particularly as your company heals from this scathing recession.

Now, not later, is the time for your employees, especially the talented and/or loyal ones, to know their professional and personal welfare matters to you. You want them to devote their creativity and energy to processes important to your organization's bottom line.

Here are key must-do things to retain your talented employees beyond the recession.

• 1. Solicit their input for vision of the future of your department or organization. People are less likely to leave part of their creation and have vested interests in making it succeed.
• 2. Train employees for the jobs you expect them to accomplish. Cutting training budgets to save money is a direct acceptance of low performance. Employees perceive that their growth is not important. Granted, some well trained employees may leave, but studies show that the majority stay with the organization that has valued them as indicated by the training they receive.
• 3. Use non-monetary rewarding practices to motivate and encourage creativity and loyalty. Recognition a for job well done, flexible time for employees who may need it, encouragement for involvement in community service among other practices have proven to increase productivity and assure that employees stay even when they know they can get better pay elsewhere.
• 4. Give employees challenging assignments. Routine activities are demotivators. Overcoming obstacles is a motivator. People want to get to the next challenge after experiencing the thrill of overcoming one.
• 5. Keep yourself focused, balanced and motivated in what you do. Your motivation is contagious and you are more watched than you are listened to.

Related Articles
  Building an Effective Talent Management System
  Employee Engagement in Recessionary Times!
  Employee engagement -How do great leaders do it?
  Working To Live
  Develop your talents even if bored

Article Tags: flexibility, motivate, recognition, train, Value



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