You attracted and hired the best millennial talents out there - good job! Now your task moves to make sure that these great talents stay with you over the long haul. Here are a few essential do's and don'ts to maximize your employee retention.
What to do:
- Show appreciation
Make sure that you show appreciation for the work and contribution of your team. If your employees successfully finish a project or acquired a new customer, celebrate it, and reward them.
- Set clear milestones
It's important to set milestones for your new hires. This way, you can track their performance but also reward them for their work.
- Create an honest environment
You should create and establish a transparent atmosphere where your employees can share their thoughts and address problems without any backlash. In doing so, you can ensure that everyone feels comfortable and is able to deliver the best results possible.
- Provide opportunities for professional growth
Listening carefully to your employees' aspirations and career goals, and provide enough opportunities to grow and learn for their personal successes.
- Make them feel like an asset
Employees look for a purpose in their career. That's why you should make them feel that their contributions are valued and important to the company. Essentially, they should feel like their work has an impact on the future success of the company.
- Provide freedom and flexibility
In order to grow, top talents look for freedom in their everyday tasks and don't want to be micromanaged. Of course, too much freedom can lead to a lack of clear focus and not delivering the best work, and this is a fine line you need to tread cautiously on.
What not to do:
- Create a toxic work environment
Rule number 1 is to make sure you provide a safe work environment where everybody feels welcomed and free to voice their opinion regardless of where they come from, their beliefs, or sexual orientation
Take work as a power-play
During crunch time, everyone will work overtime. However, don't let the increased workload become the status quo at the company. There is a fine line between pushing hard and taking advantage of your employees' dedication and drive just for the sake of it, so make sure that you prioritize only urgent tasks.
- Cancel their vacation
Seems like a no-brainer, but it is worth mentioning (as we've heard of quite a few cases). Although workloads can sometimes arise unexpectedly, you should never ask an employee to cancel their pre-planned vacation to make up for the increased work pressure.
- Take them for granted
In today's labor market, the top talents in your team only need a couple of days to find another rewarding job that appreciates their output. Our parting advice: Treat them that well!