How to stop top talent leaving your business
Have you noticed that a highly regarded employee seems withdrawn, out of sorts, or in the current climate has reached total burnout? Don’t be surprised when the email lands in your inbox confirming a resignation.
What does the future of your business look like if your top talent checks out? Consider the company specific knowledge and experience they possess! If they are of value and considered as your top talent then STOP THEM! and agree a recovery plan as it can be crippling. On the other hand, should they not be considered as your top talent. Accept the resignation with gratitude and start exploring.
Here at OutThere in Portsmouth we urge you to frequently consider these 5 key factors to ensure you retain your top talent:
1. Are they overworked?
If the answer is yes. You can re-evaluate the work volumes and mutually agree a plan paired with a timeline of achievable tasks. Consider what a productive work balance looks like be it on-site or remote. Appoint an assistant or a kickstarter for support or consider redistributing work to support growth and development amongst the team.
2. Are they undervalued or underpaid?
If an employees personal perception is that they are undervalued or underpaid it can cloud judgement, performance and cause resentment. This in turn can send ripples of negativity throughout your workforce.
Benchmarking your salaries and benefits package against other like for like employers/employees can give you a clear picture of where you are positioned within the market. Salary, commission and benefits packages can soon become dated, especially so with new business start ups or established employers moving into your local area.
Ultimately everyone is competing for the local talent. Another option is to simply ask! What salary or benefits would they be motivated by? You’ll be surprised how a relatively inexpensive benefit could be enough to retain someone. OutThere can conduct various benchmarking projects on your behalf, presenting in detail your position within the market, which in turn could give you the competitive advantage.
3. Is the potential of their role on point with their personal development plan?
Talk to your employees and frequently. We are all unique and have varying personal/career/life goals. Checking in on the alignment of both the business and your employees goals is essential. A common cause for Top Talent exiting a business is the lack of progression or access to Learning and Development. OutThere have a decade of experience supporting local and national businesses with their talent retention strategies.
4. Does their Work/life balance need addressing?
What is the culture of your business? Are your employees overworked? Are they logging on from home and sending emails at all hours? if the answer is yes, then they do not have the capacity to complete what is expected from them in the time given. Are they spending quality time with their family, eating healthily and getting enough sleep?
For some, a day or two of homeworking can improve productivity and focus. Time for catching up with communications and delivering against projects with minimal disruption could ease workload and reset the work/life balance.
5. Are there signs of conflict amongst other employees?
There will always be employees who just don’t connect, even within Management there are times when measures are implemented for conflict management. Weekly support, open, honest communication and focusing on work issues rather than personal differences will ensure conflict is minimised.
Talk to OutThere for HR advice
OutThere provide HR Solutions for all businesses great and small. We provide HR Advice through to a fully Outsourced HR, Employee Wellbeing and Internal Recruitment team. Our panel of professionals can fulfill your every HR need. Contact us today to talk about your people plans 023 9200 8680.