5 Ways to Retain Top Talent - Steven Lewis Weiner - Thrive Global

Employees can make or break a business. Hire the right ones, and you can accelerate growth and sales quickly; bring in the wrong ones, and you’ll bleed out cash and put your business at risk. That’s why when you find great employees, it’s essential to hold onto them. Here are five ways to do just that:

Set Clear Expectations

The best and the brightest want to know what they are working towards and what is expected from them. Experts in management thinking agree that constant shifts in expectations create unnecessary levels of workplace stress. Create and set a framework that people understand and can work towards.

Let Them Speak Their Mind

Great employees have to be able to speak their minds freely without fear of criticism or career backlash. Provide them a platform where they can share their ideas for continuous improvement. No one knows the inefficiencies of your business better than the people who work through it day-in-day-out.

Take time to Meet With Everyone

Keeping ranks is vital to establish order in business, but it can also create a toxic environment for those at the bottom of the corporate ladder. It’s a common problem addressed during exit interviews at large companies. High-level executives should eke out some time from their busy schedules to meet employees. This not only makes employees feel like a part of the company but also lets them learn about their skills and ideas.

Allow Them to Work From Home

Working from home is no longer a trend; it’s a common practice that can boost your workforce’s productivity. While you can’t always promote people or give raises, a low-cost way of retaining employees is to let them work from home a few days a week.

Minimize Office Drama

Disputes and arguments in the workforce can severely impact productivity and morale. Minimize these internal issues by strengthening office camaraderie through non-work-related activities and by settling disputes before they get worse.

Retaining good employees can help grow your business fast. It lets you harness their abilities and experience while also minimizing your hiring costs. Aside from the five tips aforementioned, you should also conduct surveys within your workforce to see how else you can improve business operations.