Many employers seem content in their belief that in a fluid labor market it is possible – some even argue beneficial – to be constantly replacing their workforce, hiring and firing low-skilled and easily-trained labor before they have an opportunity to get comfortable. However investing in a loyal and dependable workforce can be a more far-sighted approach as well as ultimately a more beneficial one.
It does, after all, make little sense to wilfully replace an employee who is known to be honest and dutiful with another whose qualities are unknown. For those who recognize the benefits of investing in a reliable staff base, the challenge is how to keep existing employees motivated and to prevent their heads being turned by opportunities elsewhere. Here are a few simple, yet important considerations:
A Pleasant and Positive Working Environment
Jim Goodnight, President of the SAS software development company, wrote: “My assets leave work for home at 5pm or later each night. It is my job to bring them back each day”.
One of the most frequent causes of employees leaving their company is a breakdown in relations with their line manager. Smart bosses ensure that strategies are in place to resolve differences and settle disputes at an early stage.
Recognize and Reward Good Performance
We are all just older versions of those children at school who took such pride in receiving house points and stars for handing in good work. Many companies have the foresight to pay bonuses or to offer rewards of other kinds for high performance. If an employee is generating an output for you that is beyond expectations then everybody benefits from you recognizing that work.
Thanks Costs Nothing
It may sound trite, but a simple “thank you” can go a surprisingly long way. It costs nothing to reassure loyal and hard-working employees that their efforts are appreciated and valued.