How to Keep Your Top Performers from Jumping Ship

Retention is a key issue for companies in all industries, and goes beyond benefits and compensation. The competition for recruiting and keeping top talent is fierce. Companies that fall short with their retention strategies could be facing an uphill battle to stay competitive within their industry, keep turnover costs at a minimum and maintain a workforce that can develop into their leaders of tomorrow.

Now more than ever, retention should be top of mind. Not only because the soft job market will eventually turn around, but the best time to look for a job is when one has a job. In other words, if an employee or employees feel the grass is greener elsewhere, they have no reason to stay where they are. So, companies should evaluate their retention strategies, and ensure they are doing what it takes to keep their top talent aboard.

Retention starts at on-boarding

Welcoming a new employee to a new job may seem like an easy place to start, but on-boarding is more than a team lunch to introduce new workers. Right from the start of the employee-employer relationship, retention begins. A good on-boarding program includes proper training and introduction to the company's policies and procedures, and pairing new employees with "go to" colleagues who can answer questions and provide assistance.

New employee orientations should provide workers with an overview of the company's goals, mission, vision and corporate strategies, along with an explanation from a direct manager to explain where the new employee fits into the mix. A successful on-boarding can lay the groundwork for talent to feel right at home from the start of their job.

Ask questions and listen to the answers

Employee satisfaction surveys provide workers the opportunity to have their voice heard collectively. The idea behind satisfaction surveys is to understand the positive and negative views employees have towards the company and provide an outlet for suggestions to be made. It is important for surveys to be completely anonymous so workers feel they have the freedom to be completely honest. It is equally important to ensure that changes are made in accordance with employees' opinions to demonstrate that their points of view are taken into consideration and changes are made based on their input.

Give top talent opportunities to grow

Training and continuing education are cornerstones to retaining top talent. Workers' success depends on how many new skills they can develop along their career path. This may include classroom instruction, lunch and learns, or mentoring programs where workers can learn from one another.