Strategies for Retaining Top Talent
This is a time where company loyalty is not that efficient that used to be. The mass number of workers can be seen juggling between jobs and moving one to next for the better option. Keeping this scenario in mind, many businesses have realized that they must promote their workplace to make it an ideal place for the top talents to work efficiently with all the necessary support.
Many businesses are following the trend of hiring shorter employee tenures. This doesn’t mean that retention of the key talent is not in need. It is still one of the critical strategies for running the smooth operation of any business. The current work revolution is changing, advancing, introducing new ways of working with the help of technology. Many workers who have the capabilities to adapt to such changes, have the interest to understand new technology, and have a good grip on people management are always in high demand. But recent scenarios and studies say that today’s organizations and employers are struggling to retain such talents.
Check the 5 important and useful Strategies for Retaining Top Talent -
1. Foster flexibility.
When it comes to working, the prime thing that comes to mind of a worker is that he/she has to be engaged for 9 to 5 hrs. But those days are gone. With the advancements in the work pattern, more flexible working options are added like remote working options, flexible hours. split shifts etc. This allows employees to work more freely and are happier than a constantly same routine of work pattern workers. Flexibility allows for the reduction of the work pressure and increases the output of the worker. Allowing your employees to work with mobility and flexibility will allow them to stick longer and will create a positive impact on your business.
2. Proper Delegation of Work.
Considerable progress to develop new talent is by delegating tasks, that will challenge them to try something new and to find out the maximum potential of a worker. Delegation doesn’t mean only assigning the task to someone, it also includes explanation, discussion, and guiding the person to learn so that he/she can give the best output. The delegation must be done wisely and a business must identify whom to deliver what works for the efficiency in work.
3. Frequent Praise and Positive Criticism.
Both praise and criticism are needed for the workers to know that they have done their best and to know the areas which need to be improved. Negative criticism can kill motivation and can demotivate even the most productive worker. Criticism must be presented in such a way that it points the areas where they are lagging which needs to be improved for getting more appraisal rather than presenting in a way that will demoralize them. In certain scenarios due to improper way of criticism leads to the resignation of the most productive talent of the business.
4. Remove Unnessarry Hedges in Workplace
The majority of the workers spend half of their time-wasting per week finding the right information for the delegated work due to lack of supervision and guide. This is not only frustrating for them, but it also reduces their efficiency as time is being wasted. It’s better to remove such unnecessary barriers in the workplace by providing the right tools, devices, and access to the workers. This will help you to analyze the actual work of the employees with their work efficiency.
5. Set an Example.
The leader’s talent worker highly depends on the employee behavior and actions. According to a survey, nearly half of the new managers set their management style and working pattern by following the pattern of the previous managers. Employers can uplift new talent from workers by focusing on continuous improvement and showing their own example of success. When employees see that their leaders are an example of success it motivates them to give their best to reach that position.
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