5 Ways to Retain Your Top Employees

Your team is working hard, meeting deadlines and crushing expectations, and you’ve quickly realized you’ve got a handful (or a whole team-full!) of top performers. You would love to see these top performers continue to excel at your company, and the last thing you want is for them to take their talents elsewhere. So, how do you ensure these top employees feel appreciated, valued, and ultimately want to stick around for the long haul? We’ve put together a list of 5 things you can start doing at the office today to help you retain your MVPs.

1. Regularly ask your top employees for feedback
   • By regularly asking your top employees for feedback, you will show them that you truly care about how they feel about their jobs. To start, for example, you could ask your employees how they feel about their workload, if they notice any areas that need improvement and/or if they have all the necessary resources they need to successfully complete their job. Then, once you gather this feedback, take it into consideration and implement changes to help your employees where possible. Regularly listening to your employees’ feedback and implementing changes to make their jobs easier or better goes a long way; your employees will stick around longer if they feel that their employer constantly wants to help them have a more pleasant and productive work environment.
2. Be flexible
   • A flexible management team or employer is very much desired in the workplace today. In fact, according to an article by Forbes, *“51% of employees wish their company offered more flexible work options.” With that said, being a flexible and understanding employer can pay dividends. For example, if your employee needs or wants to work from home, leave a little early and/or take a few days off on occasion, you should let them. This will show your employee that their work isn’t the only thing you care about, but that you care about your employee’s wellbeing, too. If you aren’t flexible or tend to enforce rigid expectations at all times, you could inadvertently cause your employee to feel immense stress. Even worse, your employee could seek out a new employer that would be understanding in situations where they desire flexibility. To avoid that altogether, prioritize your employee’s wellbeing and ensure you grant them the space and time they need, when they need it. Being flexible will be greatly appreciated by your top employees, and will consequently aid you in retaining them.
3. Offer competitive pay and incentives
   • When was the last time you reviewed your employees’ salaries compared to industry standards for the same jobs? If you want to retain your best talent, it’s important to keep up with what is going on in the hiring world around you. Otherwise, your top performers may be inclined to move on to another company simply because they offer a more competitive salary for the same skillset. Implementing incentives can be highly beneficial for you and your employees as well. According to CNBC, *“the companies with the highest employee morale and productivity pay a mix of salary and incentives” – so once you’ve done your research on your employee’s salaries, begin to look into incentives. Incentives can either be in the form of bonuses or commission-based (depending on your company) but both can encourage your employees to surpass the goals they’ve set for themselves, and then reward them for doing so. Offering competitive pay and incentives will keep your company’s morale high and your top performers satisfied.
4. Create a clear career path
   • According to an article by the Wall Street Journal, *“Employees will become frustrated and may stop trying if they see no clear future for themselves at your company.” In other words, if your top performers have nothing to aim for, they may eventually feel like they are spinning their wheels and not progressing in their careers leaving them frustrated or unmotivated. Your best employees are always going to want to improve themselves and constantly grow in their positions, so be sure to show them that there is a subsequent milestone that they can work toward. That next milestone could be a new position, a promotion or simply just more responsibility down the line, but whatever the case may be, make sure your top employees can see a clear career path and know what to aim for moving forward. With a clear career path, your top employees will feel that their hard work will eventually pay off and they’ll be more likely to stick around to see the fruits of their labor.
5. Recognize and reward your top employees
   • Your top employees are going to give you all they’ve got on a consistent basis, so before they get burnt out or start to feel as though their hard work isn’t appreciated, it’s best to recognize them. According to an article published by the Training Journal, *“employees who report that they are not adequately recognized at work are three times more likely to say they will leave in the following year.” Recognizing and rewarding your employees can be as simple as telling them “thank you” for their hard work or go as far as a promotion. So, if you want your top performers to stick around, ensure they feel appreciated at your company by regularly recognizing and rewarding them.

What else have you done to retain your top employees? Comment below with your best tip!