You need to do more than just pay people to retain top employees.

professional profile

April 05, 2024

by a professional from The University of Texas at Austin - Red McCombs School of Business in Austin, TX, USA

Here are 7 tips I've seen work at 100s of companies:

  1. Put people in roles that help their life goals. People management is often something the seller isn’t good at. Here’s your chance to get employees by refining their jobs to something they like better and that helps you make more money or make customers happier.
  2. Give specific 1-1 feedback Giving high-quality feedback works. Most people would rather avoid the work. That lack of people development is one of the reasons companies reach a peak and stop growing. Help your people grow and watch them do better at their jobs.
  3. Give public recognition You are amazing.
    Everyone loves praise, just like you enjoyed reading that previous sentence. Be very generous with honest, public praise. When you give genuine praise in public, you’re telling the team what you value, showing them you won’t steal credit for their work, and showing that you value their work.
  4. Give more freedom in how they do work Giving someone more freedom, without any change in their outcomes, makes most people happier to be in the same job. Have clear boundaries, outcomes, and key processes, then give people the freedom to be creative about meeting their performance goals.
  5. Increase flexibility to work remotely Remember when you were an employee and you thought the 1-hour drive into the office was a waste of your life? While your employees think the same thing. Working from home just 1 day a week can give someone 2 hours back in their life to sleep in, spend time with family, go on a run, and even work more!
  6. When unsure, ASK. If you don’t know what your team needs, ask them. No one expects you to be perfect. And who likes working for a know-it-all anyway?

What other tips would you give to retain top employees?

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Reply by a searcher
from Rhodes College in Atlanta, GA, USA
Well said
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