When we start the new year, it is a good time to evaluate our successes and consolidate our focus on the new targets, with the right people and resources in place. So how do we make sure our good people stay?
Here are a few things you can do to make sure your good employees are not about to walk out the door:
- Communicate: remind people about the future of the company, the goals for the new year and how they can help.
- Listen: give employees the opportunity to make suggestions about how they can help the company reach their new goals, and recognise these suggestions. You won’t necessarily need to put each suggestion into place but a simple thank you will often go a long way.
- Reward Performance: it is important that your employees are rewarded for their efforts. This does not have to be financial and can range from a thank you to a voucher, or an experience – whatever the company can do.
- Market Review: you need to be sure your salaries are market competitive by talking to competitors, talking to recruitment consultants or doing a quick review of the job advertisements online.
- Pay Rises: if you decide to increase salaries, ensure you are doing so in a fair and consistent way, often the best approach is to review salaries once a year and apply a percentage increase for all.
- Set and Maintain Standards: good employees natuarally demonstrate role model behaviour, setting standards ensures that those people are rewarded and makes it easier to address underperformance