How do you keep your employees happy? Do you throw money at them and assume that is all it will take to get them to stick around and work hard for you? If so, you could be missing the boat. Many employees today want money but they also want key types of recognition that can open the door to new opportunities for them. Employees want recognition, good communication and opportunities for career growth.
Employers Are Offering It
In many cases, employers are noticing the importance of this, too. In some cases, employers are offering more of the incentives and offers employees are looking for and getting good results. All you have to do is engage your workforce to get results? In some cases, all employees want is to be intellectually and emotionally engaged to become the type of long-lasting, hard working employee employers want to have.
Key to Retaining Top Talent
As the economy works on improving, the small improvements employers are making, such as putting in place comprehensive human resource programs, may not be enough. Rather, keeping top talent retained will be a challenge. Employers who want to retain their key employees will need to move quickly now to ensure their staff is getting what they need. Organization is one step in the right direction. The second is to find ways to measure and gain insight into what the employee at the firm really wants.
Across the board, companies are doing better to achieve these goals. Nevertheless, there are some areas in which there is still a great deal of turmoil. For example, employee innovation and workplace security were two areas where employees continued to feel where lacking. Additionally, effective communication is not always present. These are areas of desired improvement and they are necessary for those businesses that want to improve enough to retain those key employees long-term.
What Does It Matter?
There are many benefits to engaging employees and retaining top skills. In doing so, many businesses find that they have better shareholder returns than those companies that do not offer these types of incentives to employees. That could mean that simply connecting better with employees can help to drive up productivity and encourage investors to invest. A company with a stable level of management is always going to be more profitable when the company is engaged.
While money is a key element in any business relationship with an employee, it is not enough to keep top talent who can earn the same or more with another company. Beyond the benefits, employers need to find ways to engage employees from the top down to ensure that every member of the team feels as though they are an important component to the total makeup and success of the company.