5 ways To Increase Staff Retention When Your Top Talent Is Leaving

Why Staff Retention is Important

When it comes to anything in life, it’s not always easy to predict what’s going to happen next. But, there is one thing that you can always count on happening; change.

Change is essential in all aspects of life, regardless of whether it seems good or bad at the time; it will ultimately teach you something new. You’ll find that you start to become more flexible, more understanding, and you’ll always be better prepared for the future. This is all especially important when it comes to business because, let’s face it, you already know from experience that change is a necessary part of growth.

For some, it can take years of hard work before their business blossoms. When they do take the next step of hiring more staff or opening a new location, suddenly all the sleepless nights feel worth it. However, that doesn’t mean that everybody else feels the same way. In fact, as your business begins to grow and change, it can also spark some sort of anxiety and uncertainty in the people that very growth depends on; your top talent.

The Inevitable Part of Change In Employee Retention

Change is inevitable. We know that. However, that doesn’t mean that you should just sit around and wait for your top talent to announce their dissatisfaction. Don’t you want to retain staff ? Don’t you want to boast employee retention ? Don’t you want to keep your top talent ? The time to start planning is now. If you’re worried about negative change slithering its way through staff retention, use the upcoming tips to keep your top talent engaged, invested, and continue to watch your business grow through the incredible work that they provide.

1. Staff Retention Involves Idea Encouragement

It’s important that you create a workspace environment where your employees feel that you appreciate their ideas and perspectives. Your goal should be to encourage new and innovative ideas and ask for staff input regularly. But, always remember that even bad ideas should be met with respect. You’ll find that by simply listening, you’ll encourage staff retention by making everybody feel valued, this includes top talent.

2. Show You Care Through Supporting Development

Personal development is key when it comes to employee retention. When you show your staff that you care about their path inside (or even outside) your company, you’ll be able to promote feelings of empowerment within. Show support, contribute to aspirations, and make them feel valued at all times.

3. Promote From Within

When you choose to promote from within, it really shows your top talent and all other employees that all of their efforts really do matter. Imagine you’re in a position where you’ve been working months for a promotion, just for your boss to tell you that the very position you were aiming towards has been filled by an outsider? How disheartened would you feel? Make sure that you’re always leading by example, and encourage staff retention by showing everyone that hard work really does pay off.

4. Avoid Micromanagement, Allow Freedom

Your top talent exceeds in tasks given to them thanks to their skills, creativity, and communication. That’s how they thrive best, and that’s why it’s essential to give them as much creative freedom as possible. Give them the power to be themselves and pursue new ideas alone. In order to retain staff, micromanagement needs to become a thing of the past.

5. Pay What They’re Worth

What’s it worth to your company when it comes to staff retention of top talent ? Obviously, they’re making you money, if they weren’t then you wouldn’t be so worried that they might leave. Why wouldn’t you pay them what they’re worth? After all, if you don’t, somebody else will.

Final Thoughts

Let’s face it, top talent doesn’t grow on trees. Businesses around the world spend a lot of time and money when it comes to finding the right people for the job. Learning staff retention strategies has always and will continue to be a necessity. Keep your people happy and motivated, and watch your business grow stronger each and every day.