How to hold on to key employees

About the Author: Ron Demonet is a retired business executive with 40+ years in the corporate world. As a Certified Life Coach and Business Consultant, he loves working with young professionals who want/need a little coaching and mentoring as they navigate their lives. Ron finds satisfaction in seeing that “Aha Moment!” on someone’s face when they realize something new about themselves, and learn that they have the power to make their own life better! www.RonDemonetCOACHING.COM

In any organization, your key people are your most valuable assets!  The big question is how do you keep them?  Most would say that you simply have to keep them content and engaged …..easier said than done nowadays.

Today’s workforce is more volatile than ever before—the voluntary turnover rate in organizations is at an all-time high.  Young workers are actively rethinking their career choices and want work environments that offer more–more money, more personal time, more job satisfaction, more personal development, and yes….just more!

Take note….It’s not just about the money!  Even though this is an important aspect of any job, it is not the only factor (many times not even the primary factor) that dictates job satisfaction.  Much more goes into the job satisfaction formula.

We tend to hire people based on the skills and perceived potential they bring to the organization.  Seldom do we truly understand an employee’s concerns, needs, motivations, personal life situations, etc.  In order to keep an employee engaged, it is vital to show you care about them as a person and that you are not just “using” them.  It is easy to say you care, but what are you doing to show them you are sincere—remember actions speak louder than words!

Here are a few easy-to-implement and low-cost ways to show your key people that you truly care….

Help them to help themselves:
People perform their best when they are experiencing balance in their lives—they tend to be more happy, motivated and engaged with everything.  Work-Life Balance is a key factor in employee retention!  As an employer, what are you doing to help them achieve balance?  Your objective is not to pry into their personal life, but to simply help them help themselves.

One very simple way to accomplish this is to bring in an independent Life Coach who comes to the office once every week or two to work with your key people during the work day.  The coaching sessions would be relatively short (about 45 minutes) so this program would not have a significant impact on work.

You have to make it very clear that anything discussed in the coaching sessions is just for the employee’s benefit–the coach/client relationship is strictly confidential.  What is discussed between the coach and employee would not be shared with anyone (unless, of course, there is an indication of potential personal harm).  The Life Coach would create a safe space that allows employees to explore their personal concerns and challenges, and then help them develop healthy ways to bring more fulfillment and meaning into their lives—a path to balance.

Helping employees find balance and satisfaction in all aspects of their lives translates into them being more inspired, motivated, and engaged at work.  It is a win-win for everyone!

Honor Their Causes:
Most everyone has a personal cause for which they advocate to some degree.  You can be sure that your employees have a cause that is personally and emotionally important to them!  These causes are many and varied, but usually relate to helping vulnerable and underserved groups of people.  Showing you respect an employee’s cause(s) shows you care and respect them as a person.

Companies normally give back to their community through monetary or in-kind donations, so this is probably a practice that you have in place now.  Typically, the company stakeholders are the ones to decide when and how to make the donations.  Consider this….Get your key employees actively involved in the process—charge them with evaluating community needs and where the organization’s time and money could be best spent.  It could be a simple change to your current process, and would accomplish the goal of “honoring their causes.”

When someone is working on things they are passionate about, it doesn’t feel like “work”.  They do it gladly and put their heart into it—it is a labor of love.  Remember that the energy/attitude people bring to any area of their life, is what they bring to all areas of their life.  The entire organization benefits when people are working in a positive frame of mind.

Encourage Community Service:
An extension and complement to “honoring their causes” is finding ways to get your employees actively involved in the community.  Helping others in need via local volunteering opportunities is personally rewarding and a way people create more social connections.  These activities are usually outside of normal business hours, so it does not affect your operations.

A few typical avenues to community service:

  • Non-profit organizations such as United Way usually have programs that ask for volunteers to accomplish an array of activities—your people can pick and choose opportunities that fit their personality.
  • Local service clubs such as Rotary, Kiwanis, etc. promote community service and also provide a venue to meet other professionals in the area—good places to network, and establish both friendships and business connections.
  • Governmental departments like Parks & Recreation often have programs that need volunteers. Getting out in nature with like-minded people is personally rewarding on many levels.

It is healthy for people to get out of the office and into the community.  It can be physically, mentally, and emotionally rewarding!  It also spreads the word about your organization and shows the world how much you care…..it raises your organization’s perceived relevance and stature in the community.   Again, a win-win for both you and your employees!

In Summary:
It is obviously a lot more cost-effective to hold on to your key employees than it is to continually lose/replace them.  The cost to recruit, train and integrate new employees into an organization is huge, and it is a major distraction to day-to-day operations.  Showing employees that you really care about them is one of the best ways to enhance their job satisfaction and keep them more engaged.  There are a lot of ways to show you truly care, but the key is to show them through specific, concrete actions…..it cannot be just “lip service”!

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