Tuesday, December 13, 2016
Retaining Key Employees
Under the guidance of Harvard Business School graduate Akanimo Udofia, DESICON Engineering Limited has completed more than $10 billion worth of projects in the last decade. Serving as the company’s CEO, Akanimo Udofia has overseen its growth from 100 employees to more than 4,000. Considering the time and effort that goes into hiring the best people, it’s critical for employers to retain their best employees.
The reasons a person accepts a new job, which include salary, health benefits, and retirement plans, are not usually enough in themselves to keep a worker from leaving a company. Listed below are tips for improving an employee’s overall job satisfaction, thus increasing the company’s retention rate.
1. Maintain an “open door” policy. Communicate often and openly with employees. Encourage new ideas and accept employee input regarding problem-solving.
2. Clearly express expectations. Communicate directly with employees about what their jobs entail and what they are required and expected to do.
3. Treat employees like an asset. Express your appreciation for a job well done and reinforce employees' value to the company.
4. Reward good work. Go beyond bonus money with sincere, in-person recognition.
5. Provide advancement opportunities. Beyond the opportunity for a higher-ranking position, advancement opportunities also include intellectual and educational advancement and training.