It goes without saying that the longer employees stick around, the more knowledgeable and experienced they become. That expertise is critical to keeping the organization running efficiently and to keeping performance high.
Make sure that you are doing what it takes to hold on to your top employees with this advice:
Offer them challenging—and rewarding—assignments. The people that do the best work deserve the best assignments. Not only does that keep your top employees happy, but it also challenges lower performers to work harder. Offer them work that will bring them notoriety within the organization.
Help them grow in what they do best. Not everyone wants to become a manager, so don’t assume that is the only logical way to reward people. You can offer additional training, advanced degrees, certifications and designations, and more to advance their career without promoting them to aposition. Even consider lateral moves that allow them to try new roles and build new skills, both of which benefit the organization.
Let them contribute. Offer them the opportunity to take ownership of problems, to resolve issues on their own, to take on personal projects, and to find new, better ways to work. When they feel like they are making a real difference, they will be more satisfied with their work—and you will benefit from an influx of new ideas.
—Adapted from “How to Keep Valuable Employees From Bailing,” Camilla Cornell, The Globe and Mail, www.theglobeandmail.com.