Sun, July 18, 2010 - 11:43:10

How to Keep Your Good Employees

According to recent figures released by the Bureau of Labor Statistics, the winter of 2010 marked the first time since October 2008 that more workers quit their jobs than were laid off.  While this statistic bodes well for the economy, it can be cause for concern for employers who want to hold on to their top team members. As many companies are still trying to recover during these tough economic times, attempting to retain their best and brightest with dramatic salary increases and sizeable bonuses isn’t always possible. Luckily, there are other SMALL ways to keep them on board—and some studies say they’re even more effective.

Although conventional wisdom has long been that “money talks,” the truth is that there are many other ways to make your employees feel valued, and recent research can back it up. A May McKinsey survey found that more than any other factor, employees are motivated most by praise and recognition from their immediate managers and attention from company leaders. In other words, one of the best investments your company can make is offering employees positive, ongoing feedback—it carries very little risk and delivers an immediate return.

Through even your simplest actions, you can take your management skills to the next level and make your employees feel valued. This, in turn, will make them more productive.

Say thank you. A point of concern for many managers is the proper way to deliver negative feedback to employees who need improvement. But, what about the ones who are doing their best every day? Taking the time to thank them for a job well done is equally important. In fact, many professionals report “lack of recognition” as a primary factor for job dissatisfaction, so taking a few minutes to stop and say—or even email—a quick kind word can have a dramatic positive impact.

Make the rounds. For corporate higher-ups looking to inject a boost of energy into their workforce, the answer can be as simple—and inexpensive—as taking a walk around the office. More than bonuses, salary increases, and stock options, employees found attention from company leaders to be a real motivator. So, each week, make it a point to “make the rounds” and chat with people at all levels of the company.

Hit “reply.” There’s no easier way to make an employee feel ignored than failing to respond to a detailed status report he or she has emailed you. Although you might not realize it, forgetting to send a quick email containing as little as a “Thank you!” can make a big impression and unintentionally leave employees feeling like their work doesn’t matter. So, instead of just reading what they’ve sent, give yourself one extra minute, hit “reply,” and type a short response. Even “thanks” has the power to say, “Yes, I see you and I value your contributions.”

Posted by Linda and Robin