Because people are a company’s most
valuable asset, they should be treated
that way. When you, as a top manager,treat them with the care and respect they
deserve, you can greatly reduce the cost of
continually replacing them and training
new employees.
According to a November, 2005, U.S. Job
Recovery and Retention Survey, more than
75 percent of employees say they are looking for a new job. So what can you do to
reduce that percentage in your business?
“People don’t leave companies, they
leave people,” says Seymie Wilkerson, area
vice president at All Medical Personnel in
Tampa. “Most people leave because of a
bad relationship with their direct supervisors. Building good relationships with
employees is critical for managers.”
Smart Business talked with Wilkerson for
her insights into retaining the best talent.
What are some important reasons to retain
the best talent?
Good, long-term employees are always in
the best position to provide high-quality
customer service. They also help their coworkers feel more secure, and secure
employees are better employees.
Another advantage of long-term employees is that they can develop better relationships with customers, and their retained
knowledge is going to impact every aspect
of your business. The more employees you
keep on board, the less it’s going to cost
you to hire and train new people.
What are some key ways to retain good
employees?
You must make employees feel invested
from day one, starting with the hiring and
orientation process. To accomplish this,
you have to work with each individual
employee to develop a career path for him
or her. This lets them know the company
values them, will invest in them, and has
plans for them.
Let employees see the big picture. Make
sure they know what is expected of them,
and tell them how important their job is
and how their performance relates to the company’s overall success.
Train all managers and supervisors, and
— at the minimum — find out what training might help other employees and
encourage them to go for it. When possible,
provide the time and funding as well.
Finally, when employees do leave, conduct exit interviews. Find out what you
might have done to keep them and then see
how that applies to the rest of your team.
How important are salaries to retention?
Salaries are an important factor — but not
the most important. Make sure that your
salaries are competitive. At least average,
but not necessarily the highest in town.
Benefits, working conditions, recognition, the knowledge of an individual’s
importance to the company, and his or her
belief in the company are more important
than salary.
If your company is not recognized as the
employer of choice in your community,
strive for that status by:
- providing wellness programs
- providing ‘lunch-and-learns’
- inviting area professionals to make presentations, perhaps on financial planning,
diet programs, insurance plans or working
with a bank.
How can a manager formally recognize outstanding performances?
First, make sure the lines of communication are open. Provide suggestion boxes or
some other method to allow employees to
have anonymous input. Openly encourage
them to make suggestions, then let them
know where their ideas stand.
If you implement the idea, recognize the
employee. If, after completely analyzing an
idea, you decide not to implement it, let the
employee know why not.
Another way to show your appreciation is
by recognizing birthdays and other special
events. Find out what individual employees
like and surprise them. Some like flowers,
others don’t. Some like candy or fine dining.
Different departments might be motivated
by different things. Younger people might
appreciate something family oriented. Older
employees might prefer prescription plans
or home health care plans.
One other idea is to create loyalty programs, like 100-percent paid health insurance after four or five years on the job.
In all your dealings with employees, it is
important to be fair but flexible. Most of all,
be creative.
What are some pitfalls to avoid?
One pitfall is ignoring good employees
because too much time is spent with problem employees or on other issues. You
can’t assume that a person who never complains doesn’t need attention. So spend
time with everyone.
Finally, not keeping communication lines
open is perhaps the worst offense of all.
The lack of regular, positive feedback is a
frequent reason why an employee decides
to leave. The worst thing to do is guess at
what an employee wants or needs, so get
clarification whenever necessary.
SEYMIE WILKERSON is area vice president with All Medical
Personnel in Tampa. All Medical Personnel won the Tampa Bay
WorkForce Alliance Business Excellence Award for excellence
in hiring practices in 2006. Reach her at (913) 289-4474 or
[email protected].