Every organization wants to retain their High potential employees for the longest period of time. However it’s contradictory that the top performing employees are the first one to quit leading to increased training and recruitment costs for the company. Onboarding a new recruit at times becomes an expensive time consuming task. One of the easiest solutions to this is to keep employees happy and engaged.
Let’s take a look at the reasons which impacts decision made by a valuable employee to bid goodbye to a company:
1. Management Setback:
Managing a team is undoubtedly a difficult task. As a manager, it’s your prerogative to understand every individual in your team by investing time in identifying their motivation, hues and requirements, to be able to deliver their job to the best of their ability. At times, many managers tend to fail in this exercise.
Make your employees feel that they are “In this together”, ensure that they are frequently appreciated and acknowledged and the feedback given by them to you is acted upon. Show them the larger picture and always have an answer on, “Where does this person stand in the next 5 years in my company”?
2. Rigid Workplace Policies
Flexible policies and work time have become one of the basic expectations for employees due to multiple organizations paying attention to these attributes. Many employees tend to quit due to continued declination of Work from Home requests and stringent leave policies.
Little things make a huge difference. A reward extended to the employees, which also includes the family, makes them feel that they are not just cogs in a wheel but a valuable asset to the company. Work life balance also plays a very critical role towards employees’ retention.
3. Stress and Constant Overwork
It’s imperative to find the right balance between overwork and more work. Often the top performing employees end up doing more work because they’re the best at it and the deadline needs to be met in a very short period of time. The intensity of more work piling on to do list becomes frustrating after a point for employees.
Ensuring a good hike and promotion is an ideal way to tackle this situation as newer and greater responsibilities are expected from the employee. If raise becomes an issue considering mid year, a job title, which includes increased responsibility or some sort of an announcement, can be made.
4. Less challenging work
Job becomes mundane when you end up doing the same task everyday leading to disengagement at work. Challenges and growing out of the comfort zone motivates top performers to perform better at work.
An intellectual or creative challenge is something they look forward to which involves learning for them. Extending opportunities to enhance and utilize their skills are challenging enough to set things going.
You don’t have to spend lavishly on extending perks or celebrity treatment to top performing employees. All that is needed is to provide challenging work, resources to do justice to the work and respect their talent through a fair compensation. Adapting people skills and becoming more people orientated helps in the overall development of the team.
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