8 Winning Employee retention strategies

Retaining top talent is a priority for every organization, in every industry and every part of the globe. However, turnover isn't always a bad thing. It's important for any organization to see an ongoing, regular influx of new talent that brings fresh ideas and experience along with a different perspective. Turnover can help rejuvenate an organization and invites everyone to continually examine and challenge common practices and assumptions, looking for ways to improve.

But, too much turnover can harm the organization, resulting in:

·         Uneven workloads

·         Lower employee morale or engagement

·         Loss of corporate knowledge/memory

·         Lack of continuity, particularly in customer or supplier relationships

·         Problems with quality or productivity

Good retention starts from the time you hire employees to the time they leave your company. Here are 8 little things managers can do to retain the best:

•  Keep them engaged. Consider ways to provide opportunities for employees to improve on their skills or learn new skills they can use in their jobs.
• Give praise where praise is due. Recognizing a job well done isn't an expensive proposition, but it will mean the world to your employee.
• Be aware of employees' changing needs. By recognizing their changing needs, you show sensitivity to what's going on in their lives. This builds loyalty and helps bring stability to their personal lives, which mean they can focus better at work.
• Realize that great employees thrive under great leaders. Employees won't leave for greener pastures unless you drive them. The buck starts and stops with their leaders.
• Conduct regular "stay" interviews. Rather than exit interviews, use regular "stay" interviews to provide an opportunity to compliment high performers on their work and inspire them to do more.
• Create an environment where people can do their best work. By allowing employees to develop and implement their own ideas, you'll keep them passionate about their work.
•  Create an environment of trust. Employees are happier and work harder when they trust their leaders. They decide which leaders they can trust based on how their fellow employees, company vendors and customers are treated.
• Rid your pasture of weeds. The weeds are those poor performers and negative employees who stifle the good attitudes and high performance of their co-workers.

Understanding what engages employees can help during all phases of the employment cycle—from recruitment to training to performance assessment and beyond. It's also much easier to retain employees who are engaged and committed to your company's success.