You’ve found one, a diamond in the rough: One of those employees that overdeliver and never complains. This one’s a keeper. So how do you make sure they are happy working with you and not secretly searching for another job? Here are three things you can do to hang on to your best employees.
Pay them what they’re worth
If you aren’t sure what the going rate is, do a little research. There are numerous online tools that can help you figure out an appropriate pay scale. Keep in mind these tools are readily available to your employees as well. It doesn’t take rocket science to figure out you’re underpaying.
Most people know what they’re worth and have a pretty good idea what other people in their field are getting paid. Make sure your opening offer is competitive. You can also outline performance bonuses as an incentive for superior work.
If you start an employee at one wage and you notice they are outperforming their co-workers, recognize it with a bonus or a raise. Employees need to feel like their extra effort results in something extra from the company, otherwise, resentment can build up and before you know it, they’re working for your competitor.
Incorporate friendly competition
Be careful how you run this, you don’t want to create arch-enemies within your personnel. If organized effectively, healthy competition can do wonders for motivation, engagement and a sense of unity. Put employees on teams and create a challenge that will require working together and some strategy.
If you run a delivery service, you could utilize fleet management software to track how quickly each team makes their deliveries. The software also monitors speed and driver behaviour so you can reward the driver who is not only fast but safe too.
Regardless of the type of business you run, you can always find ways to incentivize teams and reward the top performers. Make sure you rotate teams following each challenge or incentive to avoid cliques. You want your entire team of employees to bond so they feel needed and well-liked at work. This creates a sense of family and loyalty.
Listen, listen, listen
It can’t be stressed enough. An employee who feels heard at work feels valued and is far less likely to bail on you. Have frequent group meetings as well as individual meetings. Some employees may not feel comfortable speaking out in large groups but will open up and share ideas in a smaller setting. Take notes on what they say. Look them in the eyes and repeat back their feedback and ideas. You don’t have to follow everything they suggest, but it’s important to listen and consider everyone’s perspective.
Survey employees before big decisions are made and see what they think. They want to be a part of the decisions, and they want to feel safe sharing ideas. Always have an open-door policy so your employees feel welcome to approach you with questions, suggestions, concerns, and feedback.
When you lose an employee, it can take approximately six months to bring the new hire up to speed. That is expensive and time intensive. Do yourself a favour and reward the employees that you would hate to lose.