People: The most important asset
Most organizations are talking about retention these days. Despite the recent shift in the economy, it is still crucial for companies to retain their top talent.
What employees value in their work can often be very different from what their employers think they value. With that in mind, The Society of Human Resource professionals recently gave the following suggestions for improving employee retention:
- Allow employees to develop additional job skills. Provide continuing training or educational reimbursement.
- Make work meaningful and challenging. Adding increased responsibilities demonstrates trust.
- Actively work to improve employee morale by, among other things, holding managers accountable for treating employees with respect.
- Pay competitive wages, but don't overdo it. Most people won't stay at a job they're unhappy in, no matter how well they're paid.
- Reward your employees for their performances and efforts.
- Beef up your benefits, particularly retirement and health plans.
- Head off potential problems at the pass by encouraging open communication.
- Appreciating Cultural Differences Makes Good Business Sense
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