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3 Tips for Effective Talent Retention

April 16 2020 - Your employees are your company's greatest asset. Hence the reason why it is so important to treat them with respect and to help them grow and thrive under your employment. Interested to learn how the world's most successful business owners find and retain the best talent within the industry? Here are some sure-fire tips.

Invest in their skill development

Never allow a great employee to feel stagnant in their role. If this begins to happen, it is only a matter of time before they will start seeking out bigger and better opportunities elsewhere. You want to keep them stimulated and constantly growing. This does not have to mean a sizeable promotion or pay raise every few months. What it means is investing in their skill development.

Contrary to popular belief, upskilling employees need not cost an arm and a leg. In fact, it need not cost you a thing. Along with free online courses, another excellent way in which to help your team learn new skills is to develop a mentorship program.

A mentorship program is when you rope in your more senior employees to help mentor and train junior and mid-level employees so that they can effectively start climbing the tank.

Another approach to keeping things interesting is to encourage members from different departments within the business to start mentoring each other. For example, accounts can teach the IT department basic accounting and bookkeeping skills, while the IT department can teach the accountants how to understand basic coding.

Give them the right tools

If you want your employees to succeed, you need to make certain that they are sufficiently equipped with the right tools to make success possible with minimal fuss. Here are some ideas.

  • High-quality business cards: You can have business cards customized to your style and the overall reputation of your company. This can help to boost image and reputation, all the while making it easier for your employees to draw in those clients one by one.
  • Functional software: Any software that can aid in streamlining their daily duties and maximizing their productivity can go a long way towards keeping them happy and successful.
  • Dependable colleagues: Spend time and effort when it comes to hiring new talent. By building up a solid and reliable workforce, you will provide your already existing team with colleagues on which they can depend. Together, they will be sure to produce amazing results!

Be there

As the owner of a business, you will undoubtedly have a lot on your plate. However, few responsibilities are more important than being there for your team. It is imperative that you act as a great role model and make yourself directly available to them - and not only during times of need. Enforce an open-door policy and encourage regular and honest communication. This technique will bolster your HR efforts and make it endlessly more straightforward for you to optimize your employer retention going forward.

Here's to a strong, happy, united, and productive workforce.



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