Competing to hire rock star talent is nothing new but the realization that compensation is not always the key to happy employees is a newer one. Instead of just giving out raises you should focus on the following tips to keep the talent in your business:
Implement a kickass company culture – People spend a large portion of their lives at work, so having a positive work environment is critical. Make sure people feel valued, are comfortable and have respect for others in the office.
Ensure perks are aligned with employees' needs – Cater benefits around your team’s culture and interests. The best way to go about this is simply ask employees what they want and take action.
Get on the same page as your millennial staff – With so much of the workforce being made up of millennials, knowing how to motivate them is important. This generation enjoys hearing feedback, so telling them what they are doing well or need to improve upon is expected.
Provide a career path for employees – If you have employees that are coming up on their yearly employment anniversary, take the time to ask them where they see themselves growing within the organization. Share your thoughts with where you see them headed and what opportunities exist for them to continue to be challenged.
By taking the time to implement the steps above you will be showing the talent in your company that you know their worth. In many cases this is the number one thing employees want you to know.
What actions do you practice within your business to ensure your employees are happy and won't flee the nest?