If a talented employee performs well at a job, then the way to reward him or her would be with a monetary bonus, right? It may have been true a few years ago, but now with the recession and leaner times ahead, companies cannot afford to offer increments and bonuses like they used to. So how can they retain their talented employees? What is it that sets apart your organization from others so that employees will not feel tempted to leave?
If these questions have been running through your mind, then you have reached the right place. We aim not to answer just these questions but to show you that the recession has really changed the way we live and think. So the way you handle your employees is also affected. In this period of economic downturn, employers are now relying on other means to make sure that their talented employees don’t ditch them. What are these means? Read on to find out:
· Creating an emotional connect – Let your employees connect with your organization emotionally. The workplace should not just be a place where they come, work, take their pay and leave.
Help your employees understand that they are valuable contributors in the success of the company. Make them feel that they’re important and valued. Loyalty cannot be demanded but it is earned. Making the employees feel a part of the organization is one of the ways.
· Share news with them – Management principles might have taught you to filter the bad news to the employees and let them know only the good news. Successful organizations are now pooh poohing this concept because employees get to hear the bad news whether you tell them or not. The difference in their handling it comes from whether you have informed them or whether they have heard it through the grapevine. If they’re informed about the bad news by the management, it makes them also feel responsible to handle the crisis.
· Go beyond basics – If you think your employees are working with you to make money, you’re right. But that’s not the only reason they’re there. Every person has a deep seated ambition to make some sort of difference and if you can help your employee recognize this, then they will not feel the need to seek emotional involvement elsewhere.
· One on one – Identify your employees as people and not just persons who work for you. Delve into their strengths and their weaknesses and examine them. Call them personally and chart out a plan which will help them focus on their strengths in a way that is beneficial to them and the organization.
· Be an inspiration – It’s not easy to be a charismatic leader but keep trying! Get yourself involved with your employees and treat their concerns as your own. Be approachable while still retaining the aura of a CEO or manager so that employees become loyal to you and are not in awe of you.
The recession has changed how people view their employees. If you thought that talented people were available a dime a dozen, then you’re wrong especially now. Today, top talents are being choosy about where they work and you have to ensure that you create the right levels of motivation for them so they will stay with you.
Source: International Workplace Consulting Pte. Ltd.
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