High-performing employees are among the important assets of any business. Sure, each of your team members contributes something unique to your business, but there are those who simply perform better. For starters, check out this video to see what high-performers do differently:
High-performers are rare finds and you’re lucky to have them in your organization. It’s not easy to find people who are excellent in both hard and soft skills. If you don’t take care of them enough, your top performers may find it easier to decide to jump ship. After all, with their skills, experience, and grit, they can definitely find new jobs quickly.
Below are some tips to keep in mind to help you keep your top performers from quitting.
If you have a bigger team, it’s possible that you don’t get to talk or chat personally with each of your staff. The exit interview shouldn’t be the only time you’ll ask why did they decide to leave your company.
Sure, you’re busy with management and other tasks, but you should consider adding this to your to-dos. It doesn’t have to be daily, nor weekly. You can schedule individual meetings once or twice a year.
Anyway, your employees are also busy and checking on them too often might make them think you don’t trust them enough to do a good job. So, checking in a few times a year for the sake of just really checking in is something they’d appreciate.
When you touch base with your staff, they will feel important enough to have some of your time. It also gives you an opportunity to tell them how you appreciate their efforts and ask them about their innovative business ideas if any.
If you really find it hard to squeeze in chatting with your staff, consider applying the Pareto Principle. Also known as the 80-20 rule, it involves allotting more time for the top 20% of your priorities. Then, do them very well to realize 80% of the results. Consider including talking to your staff in your top 20% every once in a while.
Many employees, particularly those who care more about what they can contribute to the organization, aren’t that comfortable talking about money. You’ll rarely hear top performers openly talk about wanting an increase, thinking that their hard work and performance are more than enough statements to make them deserving of good pay.
Make sure you follow the agreed upon evaluation and appraisal period or interval. Then, when you offer a raise, make sure it’s something that will make a noticeable impact. It’s typical for companies to follow the industry average when it comes to raises. But, you can choose not to.
If you can afford it, give your top performers a much higher raise than the less performing ones. Say, 10 to 20 percent. If you think that’s pretty steep, here’s a budgeting strategy: keep the raises of your low-performing employees to a minimum, if at all. Let’s be honest—you can let your class C employees leave to make room for better-performing ones.
Allow Them to Maximize Their Skills and Potential
When your employees are performing well, it’s easy to think that their motivation is unwavering. However, they might want to be able to give even more. By seeing what else they can do and giving them a chance to do it, you’re sending the message that you’re paying attention to their strengths.
Do you have employees who actively participate or volunteer in welcoming new team members? Why not give them a chance to actually facilitate training? If you have staff who are keen on suggesting ideas for design or content, ask them if they want to create a draft or even take the assignment.
Even if you won’t be always around to mentor them, you should at least team them up with a manager who can. Many employees who quit complain not about the job itself, but their boss. You should also be careful to weigh the personalities of your people, managers and employees alike. As much as possible, team up people who you know will get along well.
If you don’t have any supervisor good enough to manage your high-performing employees, then perhaps you need to revisit roles. If you know what I mean.
Encourage Professional Advancement
Since you’re planning on making your top performers stay, it will help you both to give them a chance to grow professionally. Encourage them to undergo training and ongoing education. If certification options are available for their specialization, ask if they’re interested. Eventually, you will also benefit from their new-found knowledge and skills.
Then, make sure that there’s a clear path of promotion and your people are aware of it. This will give them something to look forward to. Keep your word, though, and give them the promotion they deserve when they’re able to meet the qualifications. But if you can’t promote them just yet, talk to them about it and maybe compensate them in another way.
Keeping Your Company’s Top Performers Shouldn’t Be Too Hard
Genuinely showing appreciation and gratitude goes a long way in keeping your good employees motivated and happy. And while saying “thank you” often can also make them feel recognized, more tangible rewards such as significant salary appraisals are realistically better.
Do you have other strategies that help you keep your top-performing employees from quitting? We’d love to hear about them!
Register Here For the PayStaff Newsletter!
Get the latest updates on remote trends and news, as well as useful tips for being, hiring or retaining the best remote worker out there!