As the work place becomes more collaborative, the cost of losing a good employee can be multiplied as teammates move with them.
It is more important than ever before to retain key staff. Some companies use sophisticated covert surveillance to assess whether their staff are spending more time than they should on LinkedIn or job sites.
Alternatively, here are some less big brotherish approaches every manager should be aware of:
1. Work anniversaries
When an employee passes the 2, 3 and 5 year milestones they are likely to look around for a fresh challenge.
2. New Year
The combination of the seasonal holiday from work and New Year Resolutions give time to pause and reflect. Be sure to welcome your team back with the promise of a fulfilling year ahead.
3. Big birthdays
Like New Year, these important milestones often prompt team members to take stock.
4. Corporate misdemeanours
News such as LIBOR fixing, falsifying sales figures and executive scandals can have a ripple effect of talent retention. Most people have an ethical threshold which when breached will cause them to seek the company of an employer whose behaviour is more in line with their own values.
5. Lack of appreciation
By far the most common reason people quit is that they don’t feel appreciated by their immediate manager. Gratitude goes a long way to improving company performance, yet is often lacking.
Check out our other blogs with advice for managers.