How to retain your best employees

Regardless of constricting job market, the top talents of an organization are always on high demand. For them, switching a job even during intense job market slowdown is like performing a gimmick. However, most organizations ignore this fact and think everything is hunky-dory.

Before getting down to brass tacks, let's quantify the contribution of these top talents for an organization. Various polls and surveys on employee performance and contribution reveal that the top 20% of best performers create 80% value for the organization. Thus, it's quite unthinkable for HR and top management of an organization that they can afford to ignore it and let the top talents part away.

As an HR head or a senior executive of a company, your contribution towards talent management doesn't restrict you to go an extra mile and delve deeper into the issues that your best employees often try to speak out in different forums. For instance, a growing conviction has been established across the board that employees never leave an organization, rather they leave their managers. However incredible the fact may sound, the employees are always on a loggerhead with their managers on different issues, be it personal or professional. Here, you shouldn't blame a particular band of managers because a manager is also a subordinate to her of his superior up in the hierarchy. So, if you look microscopically, you may discover the root of the problem lies somewhere else. This is just one dot of the problem line, there are many such examples.

Well, before zeroing in on the solutions as how to retain your top employees, let's first understand the reasons why employees leave an organization. Some pressing reasons of top talents being dissatisfied with the organization include lack of professional growth, lack of recognition and rewards, missing long term strategy of the organization, and poor work-life balance. Now, you can address these issues and ensure your best employees stay with you so long as they outperform. Here are the ways!

Ensure Growth

In general, employees aspire for continuous growth in their career and the best employees need it more often. Top talents achieve their target faster than an average employee. For them, professional growth is the top priority. If they notice growth opportunity is stymied in the current organization, they will search it elsewhere. Thus, it's imperative for you to chalk out a sustainable growth plan for the best employees and promote them to the position they deserve, so that they can add more values to the organization.

Recognize and Reward their Contribution

Who doesn't need a pat on the back after a good job? The best performers have more appetite for rewards and recognitions. The key aspect of a sustained employee satisfaction program lies in recognizing and rewarding the best talents and setting it as an example for others. This not only elates the spirit of your employees, but also builds up an ecosystem of fair competition amongst the real talents of your organization.

Articulate the Long-term Strategy

The best talents mature faster than the organization does, and they need more opportunities and challenges to prove their mettle. Show them the big picture. If the management of the organization lags behind the thought leadership of the best talents and fails to craft a long-term strategy for the organization, the top talents will be impatient and eventually leave the organization. So, before they take a hard decision, just articulate your vision of the organization and walk the talk. If possible, involve these top talents to shape up your strategy.

Maintain Work-life Balance

Here just one exciting thought of William Henry Davies sounds appropriate:

“What is this life if, full of care,

We have no time to stand and stare.”

After all, the best talents are human beings, not robots. If an organization fails to provide a proper work-life balance for the employees, they will look for some better organizations where they can experience it. The best solution is develop a flexi-hour culture and map rewards and recognitions with actual contribution, not with the amount of time clocked by an employee in the office premise. With the advancement of technology, the concept of workplace is changing faster. Be a change agent of this trend and provide employees the power of flexibility without neglecting the organizational goals.