Without a doubt, the most important asset of your company is your people. There are no second thoughts about it. When Bill Gates established Microsoft, his major focus was on two things – first hiring absolute world class people; second making them create the world’s best software.
When Steve Jobs returned to Apple when it was on the verge of bankruptcy, the first thing he did was to retain the best talent. That’s what you also got to do when it comes to treating your employees.
Listed below are some tips to treating your employees well and getting the best out of them:
1. One of the most important ways to retain top employees is to have clear-cut expectations from them. You, as an employer, must be crystal clear of what you expect. Because, if you’re not, then the employee won’t deliver.
First understand everything you require to get done from that job then pass on the expectations to him in the same manner.
2. Mentor them so well that they learn and understand the bits and pieces of their job. The sooner and better they comprehend the work, the more productively they can work. Create healthy competitive spirits among your employees, so that they compete with each other and perform better & better.
Ask your best employees to train new joinees. That is, in my opinion, the best way to teach them their job.
3. Another critical factor that helps in making your employees feel good is by creating an open/free environment at office. Obviously, you can’t give authoritative positions to your employees unless it is required but you can create a company culture where honest feedback is encouraged and appreciated.
When you listen to your employees’ feedback, they feel good about themselves and feel at home.
4. Give them opportunities to grow and learn. Every smart employee intends to be able to take charge of things some day or the other. However, when you do not provide sufficient growth and learning options to them, they’re bound to move away.
So, remember that – your company should not only encourage good performers but also give them great career options.
The idea here is with learning, they can grow; with growth, they can earn more.
5. One of the big four audit firms, Deloitte is popular for its Impact Day that they conduct. The motto of the event is to create an impact on the society. All the employees of the company form groups and work for social causes.
If you can do something similar, or create an outdoor event for your employees, then it helps in building an amazing company culture.
6. Implementing good management strategies is also great practice to keep the employees happy and satisfied. You can keep the environment fun, cozy and productive for the employees. Adopt practices that encourage employees to take initiatives for the company.
You can also create incredible awareness among employees about how things work and share your goals with them. Your employees should feel your vision; they should care and do everything they can to grow the company. This not only helps you retain them but also gets the maximum from them.
7. The most vital aspect of treating your employees like gold is to respect them – with great pay. Ultimately, everything is about money. You want your employees to work more, generate more income, then you have to pay them what they deserve. The ideal way to decide on salary is to learn what your competitors are paying compared to you, for the same job.
A lot of times, even great employees leave the company because the competitors offer them greater benefits.
Remember, employee retention is an integral part of any business. Always, always ensure that you have the best talent in the company and things can hardly go wrong. Just implement these techniques and you shall have a great team that can help you grow your company leaps and bounds.