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These are the times when it is very easy for employees to change companies. With so many firms in the business world, the employees get variety of options for changing jobs. However, it is a well-known fact that success of any firm depends upon its working force. However, millennial employees enjoy a reputation of hopping from one firm to another in search of the next best benefit. Thus, employers need to invent new techniques to promote their workplaces as the best in the industry.

Every firm has its share of rising stars. Moreover, every firm invests in techniques which are crafted specially to nurture these stars. After all, these employees have a great impact on the business results. It is no longer just enough to offer comparatively good salaries or incentives. Something more needs to be done as per the business management consulting lessons. HR executives can in fact be found engaged in looking for initiatives which can assist in retain the top talent of the company. However, there is no one solution adopted by all for the purpose. Every firm has its own set of programs to preserve its best ranked employees.

Here are 7 reliable tips to which can lend a helping hand to retain your firm’s top talent.

  1. Promote flexibility

Nowadays, employees look for flexibility and comfort. No one wants to work in that tight schedule of 9 AM to 5 PM. Moreover, when the stress of work is too much, the younger generation wants compensation in this way. They want flexible working hours, permission to work from anywhere and at any time. However, it has been noticed that firm which have adopted flexible working hours have higher retaining success rates as compared to other firms.

  1. Make your employees feel as an asset

Try to adopt an environment which makes your employees feel like an asset for the company. Give them space to work as they wish and give them job security. It is always advisable to greet your employees by their first names. This would give them a feeling that their work is being appreciated and they are not just a face in the crowd.

  1. Try to create honest work environment

As per a recent research, firms which were able to give an open as well as honest working environment to their employees enjoyed higher retention rate. Give regular feedbacks, both positive and negative. Be vocal about both the feedbacks, so that the employees are prepared to handle both the kinds with grace. Moreover, also be ready to listen carefully to the employees’ concerns. Try to communicate directly and clearly with the employees. Middlemen only make matters worse.

  1. Recognize good work

Financial incentives are always a welcome thing, but public recognition of good work goes far beyond this. The employee gets a morale boost with public recognition of good performance. Make the recognition specific by including details about the project involved and the employee’s role. It is a well know fact that when employees feel that they are undervalues, they look for better avenues. However, be sure that the appreciation is sincere and honest. Remember, good employees are smart enough to know when the praise is fake and when it is real.

  1. Engage employees

Try to devise ways which can engage the employees in the best possible manner. Increase their responsibility but also listen to their suggestions. However, these suggestions should be in favour of the business. Stop preaching them about how to perform their tasks. Such an environment would encourage the top ranked employees to stay in your firm.

  1. Give employees a platform to talk

It is advisable for firms to give a platform to their employees where they can speak out about their grievances, concerns, and suggestions for their firms. In short, give a voice to your firm’s talent. Remember, if you will not give a chance to your employees to speak, someone else will.

  1. Keep promises

The best method for retaining force task is to keep your promises as an employer. If you have made a promise to give special incentive on completion of a particular project, do it. Employees who are looking for ventures for career success should be nurtured properly. If you have promised to add to their skills by giving them a special training, do it.

Remember, it is a free world and with so many career opportunities out there, it is actually difficult for any employee to stick to one firm. However, at one stage, every employee wants to stick to a firm which provides independence to work, flexibility in working hours, good incentives, relaxed working environment, and great challenges. Thus, try incorporating these qualities in your firm and see the difference when it comes to retaining employees of your choice.

 

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Elizabeth Payton

Elizabeth Payton is a freelance writer with over 8 years of experience from Toronto, Ontario. She graduated from the University of Toronto with a BBA in Management and Marketing. She enjoys writing, reading and watching movies. Elizabeth is a strong advocate of business consulting services to help grow businesses.

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