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5 Tips for Retaining Your Best Employees

May 17, 2012

Every business owner has at least one employee that they wish they could clone. You know, the one that always clocks in on time, goes the extra mile, and is loved by your customers. Retaining your best employees is simply a smart business move. Turnover is costly on many levels, so it's worth the extra effort to ensure employee satisfaction. The following 5 tips will help you.

  1. Your Employees Should Feel the Love—A key reason for voluntary termination by employees is that they feel management does not recognize or care about their contributions to the business. Make the effort to praise your employees on a regular basis. Good employees will stay if they feel they have a positive relationship with their supervisor.
  2. Understand Your Employees' Potential—It's your responsibility to identify the unique talents of your employees and make sure that their assigned duties match their skills. Employees feel better about their job when they are successful at it. Don't set employees up for failure by assigning tasks outside of their skill set.
  3. Offer Awards and Incentives—Spotlight your best employees and offer incentives to keep them engaged and happy. For example, display their name on the bulletin board where it's visible by everyone and/or award them with a gift card for dinner or movie tickets for a job well done. A little recognition goes a long way.
  4. Keep Employees Challenged—Employees are motivated when they feel challenged in their position. When they are not challenged, they can quickly get bored and are more likely to leave.
  5. Treat Employees with Respect—Morale is affected negatively when you do not show employees the proper respect. Never reprimand or criticize an employee in a public forum or in front of their peers. Also be sure to thank employees for going the extra mile or acknowledge when you have made a mistake.

Maintaining a positive culture is key in retaining your best employees. Follow these five tips and you will better position your business to keep the best of the best on staff!

   

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