To retain your employees, it is vital that you understand their career considerations. To inculcate a greater level of security on their commitment to the organisation, you can adopt these 3 ‘R’s:
Give them greater responsibilities that empower them to make decisions. Encourage them to learn new competencies and skill to meet these new responsibilities.
This will foster greater personal development, contributing to higher organisational capacities.
Show gratitude and appreciation for their good work. From a monetary perspective, consider tying a part of the wages to company’s performance. This motivates team play, aligns interests with profit goals and serves as an incentive to stay as the company grows.
Other types of recognition include company awards, monthly acknowledgement and timely verbal praises.
Be generous with giving time for them to recover from illness and family time. Show that the organisation is interested in the well being of their personal lives.
In the company, build stronger interpersonal bonds with team-building and well being activities.
The above excerpt is our weekly compilation of ideas for business leaders in the areas of people management, leadership, and workplace happiness.
To receive our Tip of the Day directly in your personal mailbox, simply subscribe.