Most of the successful companies try to keep up their top talent through various methods. Doing this exercise is very important and not to be neglected because we don’t really want to go through the long process of hiring a new person for replacement. Top talented workers are hard to be found and they are the most valuable asset for the company’s progress. These successful companies know exactly how to lessen the worker’s turnover and make them fulfilled in their jobs. They constantly keep an eye on them, whether their needs are properly being met or not.
Why are people leaving?
Usually when a worker leaves an organization we tend to think that he/she is not satisfied with the salary. But studies shows that though employees say that they are resigning for more money offers, when the same employees are asked later after some months about why they really left, the money reason would be fifth or sixth in the list. The main reason for an employee turnover is how fulfilled he is with his job.
For an employee there might be different reasons for leaving a company. The problems might stem from feeling undervalued and underappreciated. If he/she is a top-level employee then they might have more options in the market, especially in high demand fields like tech.
Of course, the pay for the top performer plays a crucial role in continuing his work to the company.
Here are some simple tips which will help in retaining our top performers in the company.
- Top performers always want challenges every day. They always look for a growing and changing world. The main reason for accepting your company is that they thought that the older place is stifled and limited. They expected something new from you. There should be something which helps in the growth and development of the employee. If this is not met then there is no doubt he would search the market for more challenging opportunities. Retaining employee is possible by following few simple rules of keeping the game interesting for him.
- They should be challenged in such a way that they have opportunity to expand their horizons.
- They should be stretched to the limit.
- There are two types of growth an employee expects from an organization.
- Promotion in the organization.
- Expansion with in the job.
Few employees come under the first category. If they don’t see themselves growing to the top place in your organization, then they’ll see the job as a stepping stone on their way. To stop the turnover of this kind of the employee is bit difficult. Sometimes expanding their role will solve the purpose of retaining the employee. In other cases, all we can do is just be thankful to him for spending the time with your organization.
Luckily, most of them fall into the second category. Most of them do not aim for becoming the Vice-President of the company, but they do expect the expansion of the role in his own circle of work. There are some things you can do to make these top performers stay with you for long and reasonable time.
- When you think someone is a valuable asset in your company, then you should find ways in assigning them more responsibilities. You can retain employees of this kind in many forms. Few of them are stated below.
- Providing great support
A performer, who is giving effective results, if given proper support and encouragement, can do better than before. Indeed this support can make a huge difference. This action can also result in the growth of the performer which is what he expects.
- Strategic planning ideas
A person who is producing effective results in a particular field will have real world ideas with him within that field. It is considered to be the smart idea to get the input from these top performers when the company is looking in the strategic direction of the operation. This will expand their responsibility which is required in retaining that employee.
- New area of work
By taking into consideration, the top performers skills and abilities, if there is any chance of moving him into a new area, then do it. This will help in the growth of the employee. Make sure that he/she is not the backbone of the old area they are working under. If so, then the old area collapses which is not expected. Also, check if he can handle that new area he is kept into. If it is too much for his capacity and capability then he will fail.
- Chance to train the staff
If an employee had excelled in his field then he will surely have some key tips related to the respective subjects. This will help in improvising the other employees to produce effective work. This not only helps the other employees, but also increases their sphere of responsibility. This is one of the best ways to retain the employees.
If an employee works without any glitches on their way, then he is considered to be Mr. Perfect in his field. It’s time to pose them with a new challenge. If that’s not possible then they’ll look out opportunities elsewhere. Their eyes will begin to look at other opportunities and the grass may appear greener. Increasing their challenge is also a best method to retain an employee.
- How to place a top performer?
There are some situations in which manager attained that status solely because of his seniority and right university degree. This will surely irritate the top performer. Make sure that the person who rests in the top positions is a top performer too. Otherwise, it is sure there would be employee turnover. Retaining employee in such cases would be difficult one. Chances are least that he’ll stay with the company.
- Provide flexible working hours.
Most of the time workers look for convenience in their work. The right to choose their working hours should be offered to the top performers.
So, it’s an important task to be concentrated on.
- Expand their position.
- Pose new challenges.
- Place them properly.