The labor market is changing with unemployment down to normal levels (5%), and for some industries much lower. It’s become important to lock down your star employees and not allow their knowledge and skills to leak out of the office. There are three simple but strong strategies to consider and continually remind yourself about.
Hire from within. Whenever you can, you need to reward employees who’ve stuck around. A lot of employees move on because they see it as the only way they can get a promotion. Don’t let that idea take hold in your office, make sure you move your good players up. Even if you can’t tweak a budget, you can move up someone’s title and let them know how much they are appreciated.
Let your employees craft their own careers. Encourage seminars, training, even schooling. Stoke their curiosity for trying out different things at the office. Monitor performance, but make it about results, not method (obviously within ethical boundaries). When you allow people to shape their own destinies within the company, you’ve raised the incentive for really good work.
What this really means is expressing gratitude for the value your workers bring. They need to know how their actions are making an impact. When you’re in the trenches it can be hard to understand this. It can be hard to understand why taking one more look at that spreadsheet and double-checking everything can lead to a better outcome for so many others you work with. Let your employees know that these things make a big difference and are the reason for everyone’s success.
So, it probably sounds more simple than it is. With simple things it’s usually more about endurance and tenacity. You have to keep reminding yourself of the basic principles your work is founded upon. The more you adhere to these principles the better retention you’ll see.
NextGen is the brainchild of longtime telecom professionals with nearly 50 years of experience and millions of dollars in Telecom Recruiting Services. We focus on establishing long term relationships with our clients and candidates so we can recruit the best and the brightest in the telecom industry. This ‘quality over quantity’ approach is at the heart of everything we do and has resulted in successful job placements at Fortune 1000 firms worldwide.