Employees are the most important part of every business. As an employer, your dream is to hire the right employees to grow their business. But who is a star employee?
A star employee is that team member who consistently meets business targets and also brings value to the business. Not only that, but he/she also lives the values of the company.
Now the big question is how do you retain those star employees you have spent so much resources to attract? It is not economical if you have to always recruit a different set of talents all the time.
As your favorite human resource solutions partner, identifying and retaining your star employees is our priority. That is why we decided to hold a webinar on the topic; “How to Retain Star Employees and Attract Potential Ones” to help you.
The webinar featured industry experts such as Samuel Ato Incoom, Sales Coach; Josephine Hutton-Mills, Business Etiquette Trainer; Freda Nana Embil, Human Resources Manager, and was hosted by Genevieve Amponsah, our Community Marketer.
But don’t worry if you missed that important session. We’ve got your back.
Here are the key takeaways from the webinar.
1. An Enabling Environment
Every employee needs the right environment to be able to strive. As an employer, you must endeavor to create that serene environment which should start right from the onboarding process. This means that the employee must be made to understand the vision, missions and the core values of the company. This will help the employee to identify and bond well with your business goals.
The employee at every point should feel respected and encouraged to speak up. You must encouraged open suggestions into the daily operations of the company. This will unearth the potentials of the employees.
2. Security/Stability of the Company
One other key thing that employees look out for these days is the stability of the company they work with. COVID-19 has impacted the business industry and employees have learnt their lessons and hence are looking for job security. They want to be sure in the midst of crises, their company will not just ask them to go home. They do not want to feel that they will easily be laid off if things slightly change in your company.
3. Health Insurance Cover
Employees are also very particular about health insurance for them and perhaps their families. They want to be sure that their employer cares about their health and that of their families. It is good to make your employees feel cared for and that you are not just focused on exploring them.
When employees know that the burden of having to incur extra expenses to cater for their health needs and families are catered for, they worry less and hence they will be more productive at work. This actually have the potential of retaining them in your business.
4. Periodic Reward/Appreciation
Periodic rewarding of your employees makes a big difference in their productivity. Rewarding does not necessarily mean setting aside a huge sum of money to be given. But it could be a simple shopping voucher, a thank you, lunch dinner or even just their name on your poster/social media handles. The last thing you would want to do as a business owner is to just focus on your revenue targets and not recognize or celebrate the little successes of your employees.
Oftentimes employers don’t see the need to reward their employees because they feel the employees are being paid to work. As a result when targets are met, it only means they are doing their work and nothing else. But it is essential to periodically celebrate the little successes choked by specific employees. This keeps them going and makes you get the best out of them.
5. Training and Development
This was also identified as one key area that employers could take advantage of to improve employee retention. Training and development is actually a win-win situation for both the employer and the employee. For instance, the employee acquires specific skill sets that will improve their daily operations and eventually increase revenue.
In a poll conducted by jobberman on Linkedin on the question; What will make you stay with your current employer, 89% of the respondents indicated that training and development will make them stay. This shows how employees are concerned about their career growth now.
However, before you think of training and development program for your employees, first conduct a thorough need assessment. After all, it’s not worth it if the training will not benefit your business in any way.
After the assessment, your next job should be to look for a trusted and reputable organization that runs that particular training you’re looking for.
6. Competitive Salary
Yes! We agree that it is not only salary that does the magic in star employee retention. But let’s face it, competitive salary is one of the first things every employee looks out for in their ideal company. The current economic crises in Ghana has led to general prices hikes of goods and services and that increases the taste for competitive salary by employees in Ghana.
Employees are very attentive nowadays to what the job market offers for the roles they occupy at different firms. As a result, when they realize that their salary is way below what other organizations are offering, they are likely to leave your business.
7. Flexible Working Hours
The fact that this point comes last doesn’t mean that it is less important. COVID-19 has forced the working industry to shift from the traditional system of meeting at the office to work from home. This has eventually become the new normal.
As a result, employees have developed a taste for this normal and now they prefer flexible schedules which allows them to work some days from home and other times in the office.
In conclusion, if you are an employer looking forward to retaining your star employees by giving them the best training and development, look no where else than the Jobberman Business Training. It is set of curated courses delivered by industry experts and professionals aimed at helping you build a better team.
Request a call today!