6 Ways Successful CEOs Keep Their Best and Brightest Employees (Employee Retention)
Are you wondering why a great employee decided to leave your company? If you’re currently waiting for an exit interview just to know the reason why that certain employee moved on, then you’ve just missed an excellent opportunity—not only about how you can keep one of the productive members of the team but also to determine and provide solutions to issues immediately before your organization run out of valuable employees.
Rather, communicating with employees constantly about their motivation to stay at work while they’re still part of the team is one of the best strategies in acquiring an advantage and edge in today’s demanding talent market: the retention of employees.
If you’re looking for ways to keep your good employees and not lose them, here are some successful tips you can follow as the CEO of the company.
1. The retention should start with recruiting
Retention begins already right from the start, from the process of application to screening applicants to picking who to interview.
The retention must already start with recognizing what aspects of culture and plan of action you may want to bring attention to, and then attempting to find those from your candidates.
2. Always listen to employee feedback and do a follow-through
Great leaders who are always engaged are successful communicators and listeners who know how to establish trust among their employees because trust is the very foundation of employee retention.
Giving time to listen to the feedback of employees is both a secret to leadership style by successful CEOs and a part of their company’s business operations.
You may consider doing regular one-on-one meetings with your team and ask your HR support staff to distribute anonymous employee surveys every six months so they can help you identify the problem. These surveys can also measure employees’ happiness and contentment with their leaders.
The survey results will then be shared with the entire company, and plans for actions will be made. It’s the follow-through that’s crucially essential here. In order to get the best and most important feedback from an employee engagement survey, you must first communicate what your intentions are with the team.
Doing preparations ahead of time will provide your sceptical employees reassurance if they fear to give that honest feedback, even if the survey is in an anonymous form and believe that it can land them in trouble.
3. Give them responsibilities that help them grow
Giving employees some responsibilities that allow them to grow only shows that you trust them. Motivate them to develop new skills. Offer them enough continuing education and training opportunities. If possible, hire from within, and give well-deserved promotions when it’s appropriate. Doing this will surely make your employees want to stay more with the company and be emotionally invested in it.
4. Respect and appreciate employees
There is no employee on earth that doesn’t want to be respected and appreciated. It’s true what the old saying tells us that people can forget the things you’ve told them but they can never forget the way you made them feel.
Many people still suffer from horrific and stressed-out managers who talk to their team with disrespect, one of the reasons why people leave. However, if you hire managers that know how to genuinely prioritize showing outward respect and care for employees on a daily basis, this may result in a strong and lasting workplace culture together with positive experiences and memories that they will never forget.
5. Provide the right benefits or incentives
Benefits and perks are very important since they also keep employees satisfied, happy, engaged, and even healthy. These benefits are not just about healthcare coverage and paid sick or vacation leave, there are many things that CEOs can consider like providing stock options or several financial awards for employees who go beyond performance goals or who remained in the company for a prearranged time period.
Aside from incentive compensation and bonuses, allowing flexible work schedules are also great opportunities for people to be able to work remotely and generously paying their leave policies also goes a long way in helping employees feel that they are valued and appreciated in what they contribute at the workplace.
6. Allow them to have some breaks or time off
Employees also need relaxation time. You must also give them enough time for family vacations, new babies, sick days, and etc. Although it’s normal to expect and even ask for high-quality performance, it can also be unreasonable to expect that they can do that at a continual level of pressure.
Give your employees the time to catch their breath from one task to the next as they’re humans after all and not robots. You can have team-building activities or small break periods over the course of the day.
Always be Ready for Possible Turnovers
Well, not all companies and CEOs are perfect. Turnovers are inevitable and they happen all the time. Organizations should be ready to lose great talent, especially if they have found a chance to land their dream job, support them,
Although it’s hard to lose someone who’s a shining star, you just have to be prepared for it when the time comes when they decide to move on. Accept it when someone doesn’t want to be part of your company anymore.