Retaining Top Talent in Your Business

A successful business has many different functioning components that make an operation whole. The employees of a business, whether it is large or small, are an essential part of the companies foundation and overall success. As a business owner or a high-level executive, retaining top talent within your organization is imperative. Here are a few keys ways to keep employees thriving and retain top talent. 

Invest in Training and Education 

Training programs are critical for new employees to complete before they continue into their positions. Take the time to invest in a well thought out training program that will engage new hires and help them get started. Training shouldn’t end once the new hire starts working. Holding refresher courses is a great way to keep employees motivated and further their development. Many companies also choose to invest in furthering the education of their employees by offering tuition reimbursement programs as well. Entrepreneur contributor, Harry West, says, “To encourage employees to take advantage of additional education programs, many organizations offer partial or complete tuition reimbursement and/or time off work to complete courses and schooling.”

Provide Regular Feedback and Communication

A good leader focuses on helping their employees reach their developmental goals. One of the easiest ways to do this is by providing employees with regular feedback and encouragement. Help your employee develop their strengths, and guide them by leaving the lines of communication open. The right feedback can show your employees that you value their performance and want them to continue to grow within your organization. Additionally, don’t be afraid of criticism, as long as it’s constructive and positive; negative criticism can decrease motivation and productivity. The way you deliver criticism can make or break how your employees respond to it.  

Offer Opportunities for Internal Growth 

While focusing on the development of your employees is essential, so is providing opportunities to grow within your organization. Employees want to know they can start a career and seek new internal opportunities to move forward. While you can still hire external talent, be sure to focus on current employees as well.

To read more of Jason Kumpf’s insights please visit NCU News.