Every smart entrepreneur knows well that the greatest asset of any business is its employees. It’s one of those assets that continue to increase in value over time.
In fact, you probably currently have star employees yourself, those who go over and beyond their duty to get to push up sales further or to build better relationships with clients. But because top-performing employees are indeed the go-getters, they’re also the ones at the front line of issues, vulnerable to getting discouraged and quitting, if not given the right support. Plus, since they have the winning skills and attitude, they can easily find better opportunities elsewhere.
The challenge then for businesses is to keep their star employees from quitting. Here’s how you can approach that challenge better.
Show appreciation to them in the way they want
No matter how emotionally intelligent your employees are or how secure they are about their identity, an acknowledgment of their hard work is still important. It’s a basic human need to feel valued by others. In a business setting, addressing such a need is more crucial, as it boosts the motivation to work harder.
So, show appreciation for your employees’ hard work. Make sure to do it in the way that they prefer. Some want to be recognized publicly. Others prefer actions of compliment, like bonuses or promotions. That’s why some businesses have reward programs, like incentive trips for employees. The important thing here is to show appreciation to your team in the manner they prefer.
Let them be teachers
When your star employees are more involved in what you do, you’re able to validate their value to the company, thereby increasing their morale. One of the effective ways to keep them involved is providing opportunities for them to share their knowledge and skills.
Aside from engaging them, this will further improve their abilities, and all the more make them valuable to the business. Some employees even find a far deeper loyalty to their organization when they are given teaching opportunities.
There are lots of ways to let top-performing employees be teachers. For one, they could lead an employee mentorship program or a presentation to the team. Or, they could author a book your company will publish. Think of creative avenues for them to share their knowledge and skills.
Ask them for feedback
As they say, people don’t quit their jobs; they quit their bosses. So, in your efforts to make star employees stay, you can’t avoid considering your relationship with them as their leader. It’s important always to assess how you can make the professional relationship better. And for that, the best way to do it is to ask them directly.
Tell them you want to know how you can improve the working relationship and how you can better support them. Ask for feedback on things you should start, continue, or stop doing. This sounds like an anti-managerial attitude and behavior, but what you’re really doing is shifting from the commanding type of boss to a collaborating one. And that’s what every star employee, or any worker for that matter, dreams to have.
It requires strategic efforts in keeping top-performing employees in your organization. But the returns will be worth the sacrifices, for sure.