How to Keep Your Best People

"Statistics say that 22% of high value employees often think of quitting, 20% would leave for a similar position and 13% are looking for a new job right now-- or at least as soon as the economy recovers." (humaneticsllc.com)

Hire right
Who do you blame when a new employee doesn't work out? It may surprise you that the majority of executives blame themselves. Or, to be more specific, they blame their hiring procedure. Therefore, the first step on your mission to control the turnover rate is to re- evaluate your company's hiring practices and policies. Here a re a few tips to keep in mind:

Identify your needs
Understand the work flow and when peaks occur, so as to know when you are more likely to need more employees and for how long. Also, take some time to evaluate the collective skill sets and personal attributes of your staff and decide if there are any proficiency gaps to fill. Take your time before you begin interviewing-- to determine exactly what it is that you are looking to hire for and what specific skills you need out of a candidate for you and the employee to succeed. Create a specific and detailed job description for each position-- be sure to include core competencies and duties that speak to your target audience.

Be rational
Overstating your needs might get you a candidate, but chances are the candidate is not going to last very long. Honesty is always the best policy, especially when it comes to hiring. So be sure to be candid about the company, the position and the opportunities ( short and long-term). This will assure that you will find the right candidate and that they are joining you team for the right reasons.

Don't ignore your employees
Previous studies have shown that candidates hired under the recommendation of current employees are more likely to stay longer than those who come on their own. Current employees know the organization and are less likely to risk their reputation by recommending someone who is not going to work out. They are also more likely to speak honestly about the company and the opportunities and therefore attract the candidate without the "sales pitch" that hiring managers usually use.

Rehire a previous employee
The advantage of rehiring a former employee who left under favorable circumstances, is that you already know the caliber of work to expect from them and the learning curve is substantially lessened. Aside from that, you also already know how to coach that employee best and how they will fit in with your current employees. So don't shy away from rehires, instead keep an open mind and place them back on your team with a strategic mindset.

Provide exciting incentives
Incentives can be anything from allowing people to take an extended lunch break to perhaps even leaving early. Loving the feeling of being a winner is something we can all relate to. Providing something to work towards will allow for employees to feel motivated to take that extra step or to make that extra call, simply because they know there is something additional waiting for them at the finish line. Other incentives can include things like, tuition assistance, casual dress days, and additional vacation time. Remember that people work for much more than a paycheck.

Start off on the right foot
Make sure that all new employees are fully aware of their duties the company's organizational structure, and what is expected of them. You cannot possibly expect someone to live up to your standards if you do not make those standards clear form day one. So, be sure to take a look at your new-hire orientation process, and make sure that it is up-to-date and effective. If you set the right pace from the beginning, you will ensure that your new employee will be performing at their very best.

Keeping your best employees is essential to your organization. These are the employees that make you look good and keep your organization oiled and fine tuned. So be creative, innovative, and exciting when thinking of new retention methodologies. And keep in mind that your employees (whether they are the best or average), are the driving force behind your business; so take the time to acknowledge their efforts and let them know that their loyalty and hard work is appreciated. You will be surprised how the little things can sometimes make the biggest difference.