One of your company’s biggest assets is your staff. This is particularly the case when you have managed to attract some talented employees, individuals you believe have the potential to go on to big things.
You already know that retaining talented employees is a good thing. Replacing people always means a drop in productivity. That’s because it can take a while for new employees learn the ropes. Not only that, but the recruitment process can be expensive and time-consuming.
However, staff retention is important for other reasons as well. For example, it’s critical when you would like to see your most talented employees move into leadership positions within your business as it grows.
Naturally, though, the most talented people are also the ones at highest risk of seeking out opportunities elsewhere. After all, they want to fulfill their own potential. Also among the dangers are headhunters, who are likely to pursue your talented employees.
Therefore, you need to do all that you can to ensure their continued employment. Do this by offering incentives for them to stay. Here are 3 enticements for you to consider.
Mentoring your future leaders within your own organization isn’t always an option. However, there are some very strong corporate mentoring programs that will facilitate cross-company mentoring. Such programs will enable your talented employees to be paired with people who can help them develop.
With the aid of a strong mentoring program, they will find themselves the path to senior roles in your company. This gives them career development opportunities, a strong motivator to remaining with you.
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Supporting Further Education
Help talented employees you want to retain to reach their potential. When you align with them in this way with regard to their personal goals, you quickly earn their loyalty.
Therefore, give them opportunities to study for qualifications relevant to their jobs. Offer financial assistance and some time to study for an MBA part time, for instance. This can pay big dividends not only for them, but for your business as well. For instance, once your promising staff member has achieved his or her new qualification, they will have a good reason to stay with you.
Ongoing education might not mean a graduate degree in every case. It could also relate to industry-specific professional qualifications. These credentials can be an expensive undertaking for talented employees to try to complete on their own. However, they are sure to be grateful for your assistance. Keep in mind that their newly acquired skills will be valuable to you as well as to them.
Regular Discussions About Career Progression
Staff members who show high potential are usually aware that they are on the path to leadership. They can become frustrated if they feel they don’t have a road map for reaching the next rung on the corporate ladder. Often, if someone is frustrated by waiting for a promotion opportunity, they will simply start looking for a job at their desired level somewhere else. This means that you need to ensure staff have regular appraisals. Have conversations with them about where they currently stand in terms of your future plans for them.
Focus, therefore, on development for your most talented employees. This is really the best way to keep them. Plus, it will also give them what they need.
In other words, your most talented employees are just waiting for you to show them how to develop. They are eager, after all, to take on those leadership roles you have in mind for them.