Good help is hard to find. Moreover, when you do happen to find it, these individuals seem to disappear as quickly as they appear. As a boss or supervisor, you’re going to have the honor and privilege of managing the employees who work underneath you.
How these employees perceive you and how they perceive their job will often rely entirely on how you treat them. If you appreciate the contributions your rockstar employees have been making to your business than it’s crucial that you do everything in your power to retain their services. With that being said, here are 5 ways to keep your rock-star employees.
1) Avoid overburdening your top employees
Logic would dictate that the better an employee performs the more work they’re capable of handling. However, piling on extra work just because your rockstar employees can handle the load is one of the fastest ways of driving them away from your business.
If you’re backed up with work than you need to focus on the problem employees who aren’t able to keep up as opposed to punishing the top performers capable of picking up the slack. If your workload begins to grow hire more employees to avoid overworking your rockstars.
2) Show your appreciation on a regular basis
Show your top performing employees that you appreciate the work they perform for your business. It’s no great secret that employees who feel undervalued in the work place are at the greatest risk of leaving your organization.
Displaying your appreciation can take various forms – parties, recognition ceremonies, raises, etc. Simply acknowledging the good work of an employee to their peers can also be an effective way to retain their services for the long term.
3) Provide constructive feedback
If you want your rockstar employees to thrive in the workplace then it’s essential that you provide feedback on their work. Truly constructive feedback does more than just criticize – it offers specific and actionable advice an individual can use to improve their performance.
If an employee feels they are learning and growing in their work environment than you will greatly increase the likelihood of their staying on with your organization for the long term. However, if all you do is complain about their work without showing them a way to fix the problem you’ll only cause resentment and anger to build up which will greatly increase the likelihood of employee turnover.
4) Set aside time for 1:1 meetings
It doesn’t matter if you’re an employee or a manager the thought of more meetings than normal can be disheartening. However, engaging in 1:1 meetings on a weekly basis can be a crucial step when it comes to employee retention.
It doesn’t matter what the meetings cover – company news, new projects, client reports – the importance of these meetings are paramount. During the course of the meeting, you should provide feedback, address concerns, and have an overall discussion with your employees.
Doing so will make it easier for both sides to express concerns to one another which will allow you to deal with potential issues before they grow out of control.
5) Make it a habit to educate your employees
If you want your employees to stay motivated than you should make education a part of the company culture. Your employees should always be learning and growing. This will motivate them to continue to strive for perfection in the workplace. Employees should leave everyday feeling empowered and eager to come back the next day ready to consume more knowledge.
If you think your employees are just sticking around for the paycheck, you may be in for a rude awakening. If the work environment isn’t a right fit for them, your top performers will move on somewhere else – likely into the arms of your competitors.
Let your employees know their hard work is appreciated and create an environment where they’re constantly learning and improving their skills. That’s a surefire way of keeping your rockstar employees.
Running a business isn’t easy especially when you don’t have the working capital you need to keep the ship afloat. One Park Financial understands. We partner with an extensive network of funders who provide alternative funding options for small business owners. Don’t let your business slow down because you’re short on cash. Contact us today.