23 Nov How to Retain Your Top Employees When They Are Being Pursued By a Competitor
So you have the perfect business and it has been running well for many months or years now. This might be due to the employees you have working there.
The employees are the motor of a well-oiled machine and they will always keep it running for you. However, you need to treat your employees with the utmost respect if you want them to carry on working for you.
There could be many companies similar to yours that are looking to poach your staff. Being headhunted can be amazing for employees but not so good for employers. Just because an employee is headhunted doesn’t mean they will jump ship and run to the other company. However, you need to make it worth their while to stick around now they know others want them.
There are many reasons to keep hold of your top employees. First, they are very good at what they do, so your business runs more smoothly. If you have clueless employees then your business may fail. You also have to think of your customers and clients, if your top employees know exactly how to handle them you wouldn’t want to bring others in who would have to learn the ropes.
As stated by staffing industry expert and CEO of AkkenCloud Giridhar Akkineni ‘Your customer is the essential piece’. If your customers aren’t happy then your business will suffer. Staff members make the customer’s experience worth visiting your business.”
It can also be expensive for your business if your top employees are headhunted and end up leaving for the other company. You could end up losing a significant amount of money due to staff shortage and the costs involved in recruiting someone to fill their position.
Incentives to offer
If you are desperate to keep hold of your top employees, you should think about what you can offer them to entice them to stay. If you can, find out what the other company is offering them pay-wise. If your employee needs more money, then they may leave for this reason. If you can match it or up what you pay them currently, this could be an excellent incentive to stay. You could also offer them more holiday days as part of their contract. This means that rather than the usual 28 days, for example, you could get up to 35.
Find out the employees thoughts
Remember, your top employees might thoroughly enjoy working for you and your company. This means that even if they are headhunted, they don’t want to leave. There could be a perfect reason for their loyalty. It could be that you are a fantastic boss! Finding out your employees’ thoughts will prove this, as it shows you care what they think.
Make your workplace inclusive
When people leave companies it’s often because they don’t feel like they fit in to the culture. After all, if they felt like they fitted in and belonged somewhere, chances are they wouldn’t be leaving.
The way to keep your staff is to make the workplace inclusive. This means that everyone feels like an important part of one big team. Chances are, it’s this feeling of being part of a ‘team’ that causes them not to leave. When you have an inclusive workplace it means that employees are more likely to be happy, satisfied, and above all, loyal. Employee relations expert, CEO, and best selling author, Jason Greer tells us, “There’s no better way to retain your employees then to spend time speaking with them about what they need and what the organization can do to make sure they feel like they are part of something bigger than themselves, whether it’s a matter of retaining all of your talent or even honing in on how to make the environment more inclusive. People from all facets of life want to work in environments where their ideas and skillsets are coveted and respected by the companies and organizations they work for. In other words, going directly to your employees about their needs and desires will take all of the guesswork out of what you need to do to retain your top talent.”
Save the company culture
A lot of people leave the company because they don’t feel like it’s a good fit for them. And while this can often mean that not everyone is going to get along, what it means at its core is that there isn’t enough common ground between your current employees.
If you want to keep your staff then you need to make sure that the culture in the office is one where people are able to share ideas and opinions without feeling uncomfortable about doing so. This way, no matter how different each person might seem on paper – you’ll soon realize that their opinions are far more similar than they initially appeared. The key here is trust.
The company-employee relationship is a unique bond. It’s important to keep it strong by being creative when thinking of ideas to prevent your best employees from leaving. This article has provided some suggestions on how you can do this. Remember, if they are headhunted or leave, they’re more than likely not coming back!