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Crandall
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How to Keep Top Talent! After a successful search both the employee and employer must work to develop a long-term relationship. Here's what clients tell us about . . . Once a new employee has been hired, the actions you take can help you retain him or her as a valuable productive employee for a long time. While there are many different ways to keep top talent, experience shows that loyalty is key to a long, productive relationship between employee and employer. Employee loyalty is more than good company morale. Loyal employees not only feel good about themselves but are also proud to work at the company, feel challenged and believe they are being treated fairly and honestly. Companies must earn employee loyalty. So, too, managers must earn the loyalty of their staff members. You earn loyalty from employees through the actions you take, the attitudes you exhibit, and the words that you use to communicate. Five ways you can instill employee loyalty . . . 1. Communication Employees need to believe that senior management and the organization are concerned about them asindividuals. Here are some examples of communication policies that have been used successfully to promise loyalty: Schedule regular employee reviews and take a true interest in the progress of each individual. Promote from within whenever possible. Implement downward communication that shares information about the organization and the industry, even if that information does not directly affect staff members. Hold periodic meeting of departments in which productivity is reported and individual achievements are cited. 2. Respect and Fairness When employees do not perceive that individuals are valued by their company, they cannot respond by being loyal to that company. In other words, loyalty is a two-way street. Ways to show respect and fairness include: Show appreciation for good work from employees during good times and bad. Listen and observe your employees and be attuned to feelings of resentment you may be able to lessen. Encourage employees to participate in training programs even if promotions are temporarily on hold. Do not expect employees to be loyal to a company if they feel that their interest are not being considered. A company that shows sensitivity to staff will be better perceived by its employees than one which denies that individuals have a right to complain about anything. 3. Recognition Recognition can take many forms. Bonuses, pay increases and promotions are the obvious ones that come to mind. There are, however, other ways to recognize employee contributions - ways that do not have a high cost. Acknowledgment of the employee as an individual can do workers to show that a company cares. This can include extending congratulations for birthdays, weddings, births and adoptions, and generous time off for bereavement. Sensitivity is the key here. The action can be as simple as a bulletin board notice or weekly memo announcing the congratulatory events. Show appreciation to employees when a particularly difficult job is completed. Parties held exclusively to reward upper management may foster loyalty in those ranks but may undermine loyalty at other levels. Tangible rewards can be given for exceptional performance. For example, dinner for two on the company, or an extra vacation day. The cost need not be great, as long as the appreciation is sincere and employees feel it is in line with what the company can afford. 4. Generosity Although most people accept that those in the top ranks of management and ownership will reap the most profits, they will not accept working for the least amount of compensation and benefits management can get away with. Therefore, it is important that management let employees know where the company stands on a fiscal basis. Resentment is strongest when individuals believe senior management reaps profits while withholding from employees. When employees are able to understand the company's bottom line, and they see the efforts management makes to keep individual hardship down, loyalty is bound to be reinforced and increase. 5. Growth When one thinks of growth, advancement in salary and title immediately come to mind. In many flattened organizational structures and in smaller companies, this type of advancement is not always possible. Other methods of growth for employees can be appreciated as well: Providing ongoing training for employees helps show that you care about individuals' professional development. Setting up and encouraging mentoring relationships that are rewarding to both longtime and newer employees have proven effective in many organizations. Talking with employees about their plans for the future can show that you have a genuine interest in their growth. Try to relate how the company can fit in to these plans, if possible. Allowing employees to take on added responsibilities as they become more skilled. Be attuned to employees who resent being given more work for the same salary and title. Try to discuss this candidly with employees and negotiate assignments that they are comfortable with. Point out that rewards may become more tangible down the road. After all, employee loyalty is basically a matter of attitude. The burden is really on the company to try to create an atmosphere in workplace that fosters employee loyalty and consequently employee retention. |
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© Copyright Crandall Associates, Inc., 2007. All Rights Reserved. |
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