Keeping hold of your most talented employees is an important factor in making your business successful.
Loyalty is much harder to promote in people in the modern workplace, as many professionals are prepared to keep moving from one company to another. This means it can be more difficult to encourage ambitious employees to develop themselves within your business instead of going elsewhere.
But losing talented employees can have a significant impact on your company and its ability to compete with rivals. So how do you make sure your most valuable professionals want to stay within your team?
Offer progression opportunities
If you want people to stay within your organization, it's important that you make clear what progression opportunities are open to them. Talented professionals will want to develop their skills and be rewarded financially for the greater value they add to the company.
If you are concerned about potentially losing some of your best employees, you'll need to prioritize development. You also need to make sure these opportunities are possible for them to achieve. Having a progression scheme that is almost impossible to work through will be more demoralizing than having no opportunities for development at all.
Celebrate their successes
All professionals want to feel valued by the company they work for and ignoring the achievements of people in your business is an effective way of shoving them out the door. This goes for everyone working at your organization, but can be a lot more costly if you have talented and ambitious employees. They are far less likely to tolerate being underappreciated and will soon find another, more rewarding, role elsewhere.
You don't have to roll out the red carpet, but having initiatives that praise and reward those who excel in your company is a great way to ensure your talented members stay. This can be anything from an employee of the month scheme to bonuses, but whatever you do it's important that you're consistent with the criteria and don't just pick your favorites.
Show how they can make a difference
Another key reason why people leave a company is because they feel like they are just a cog in the machine. For the employees who have real talent, be clear about the impact they have in the company. This means giving them the freedom to make decisions in areas they are passionate about and allowing them to trust their professional instincts.
Insights for Professionals provide free access to the latest thought leadership from global brands. We deliver subscriber value by creating and gathering specialist content for senior professionals. To view more HR content, click here.