10 tips for Retaining Star Performers

Managers need to think about how to keep their star performers engaged right now so that they do not look elsewhere once the economic climate improves. Once the economy turns around, disgruntled employees will certainly begin to consider a job change, said Lori Dernavich, of Lori Dernavich LLC, a business advisor who works with C-level executives, HR directors and boards to provide essential workplace performance solutions that lead to accountability, improved communications and increased profitability. The key to retaining star employees is to keep the lines of communication open with them to gain an understanding of what they’re going through and to show them that you acknowledge their hard work. While managers should make sure that these employees are challenged, they should also be cognizant of their work load, particularly if there have been previous lay-offs and these employees are doing the jobs of others in addition to their own work.

Dernavich also suggests that now is a good time to have weekly check-ins, not only to verify what is on employees’ plates, but also to ask important questions regarding their satisfaction with their position and future goals. Managers should find out where their key employees see themselves within the organization once hiring resumes.

Performance and productivity increases when employees trust their employers, so managers should have an action plan for lean times and share that plan with employees. Management should openly discuss the state of the company with employees, said Dernavich. Employees have a vested interest in how the company is doing. If they are not hearing anything from management, they will make it up themselves – and rumors are usually worse than the truth.

Dernavich offers quick takeaway tips for managers looking to keep star performers engaged:

1. Be truthful with employees about how the economy is affecting the company.
2. Seek employees’ input and opinions and give them ownership of their work. Be available, but do not micro-manage.
3. Make sure employees have all of the information, equipment and resources to get their work done.
4. Praise employees frequently and sincerely. If you need to deliver negative feedback, keep it about the facts and discuss how to do things differently in the future.
5. Don’t assume you know the career paths your employees desire. Work with them to create a plan that will encourage their development as it fits into company goals.
6. Create rewards that mean something to employees. Talk to them to find out what they really value: Would they prefer an extra day off? a gift certificate? the opportunity to take a class?
7. Encourage team interaction; the more positive relationships employees have at work, the less likely they are to leave.
8. Provide opportunities to learn and grow.
9. Provide ongoing feedback and be sure to follow through on promises.

Source: Lori Dernavich, LLC.

Reprinted with permission. © CCH
(Submitted Sept. 14, 2009)

 

<p>The key to retaining star employees is to keep the lines of communication open with them. Managers should strive to understand what employees are going through and acknowledge their hard work.</p>

10 tips for Retaining Star Performers

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