Aug, 02, 2016

Avoid These 4 Mistakes if You Want to Retain Top Talent

Attracting and retaining the best employees is a top priority for every human resources manager. Few things are as detrimental to a company’s performance and financial stability as when it starts losing its human talent. However, despite being a huge problem for many modern businesses, talent drain is often easily avoidable.

If you want to retain your top performers, make sure you treat them right.

If your turnover rates are higher than normal, take a look at your managerial practices. Are your managers making any of the following mistakes?

  1. Ignoring employee feedback

Many managers make the mistake of thinking that their job is simply to give orders and provide feedback on the finished work. However, employees can have valuable insights, and an effective manager is always a good listener. Managers that fail to establish two-way communication and transparency risk alienating those who care the most.

  1. Overworking their staff

Constantly striving to raise the bar, managers often rely on their best people to increase productivity. This, in turn, leads to overworking, which often burns out their top talent. Research shows that productivity decreases significantly when employees work more than 50 hours per week, so it’s best to avoid treating employees like work machines.

  1. Not honoring their promises

Excited about onboarding a talented employee, many managers tend to make a lot of promises during that person’s first weeks with the company. But as time goes on, those promises often don’t materialize into real actions. Building trust and respect isn’t possible when managers fail to honor their commitments. As a result, employees can’t help but wonder whether they will be able to grow with the company and may begin to look elsewhere.

  1. Not recognizing good work or promoting the wrong people

It is easy for managers to get used to the consistently exceptional results produced by their best performers. But it doesn’t mean that they should stop recognizing and rewarding people for their hard work. It is also very important to ensure that all positive recognition and promotion happens based on the real value people add to the company. Nothing demotivates good employees more than getting passed over for a promotion because of office politics.

If you find that you are guilty of one or more of these mistakes, it’s not too late to fix it. Implement HR solutions from Sageview Consulting, and you may find that your employees are sticking around for longer.

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