Bayt's tips for employers to retain top talent
Bayt.com’s Suhail Masri on how to boost employee engagement
You have possibly stood on your head, done a cartwheel, improvised, and jumped through hoops of fire to source and attract the exact top talent you want for your organisation, and then spent a fortune on orientation, induction, and training activities. Now, the question is how to ensure these coveted gems remain on your headcount, and do not become coveted by other organisations any time soon.
Employees are your best assets
Studies have shown, time and time again, that employees who feel valued, recognised, and appreciated are the most loyal. As a top employer, you must make sure formal mechanisms for evaluating and rewarding employees are in place, are competitive, and are in-sync with industry norms. Do recognise outstanding performance and reward it on a periodic basis. Also, set regular special initiatives that identify, celebrate, motivate, and incentivise your star employees and promote their loyalty and retention. Managers of successful organisations rarely miss an opportunity to remind their audience – as well as themselves – that their people are their most precious asset.
Of the total respondents to Bayt.com’s Passion for Work in the Middle East and North Africa poll from February 2016, 76.8% say their managers provide them with feedback and genuinely care about their professional growth and development. Employees who aren’t celebrated won’t be fully committed, and therefore, cannot possibly be doing justice to their company at any level.
Give them a reason to care
Although 90.2% of respondents of the Passion for Work in the Middle East and North Africa poll say they give their jobs 100% of their effort and passion, there are still some managers who think their employees will be motivated to give a great performance simply because the company has hired them. They see money as a cure-all – their logic being that if they pay their employee enough, they’ll put up with anything.
But this is a very faulty and outdated thinking. In today’s job market, people are more conscious of the need to maximise their employability. A big reason why people take a job in the first place, and why they might be motivated to give it their very best, concerns how they imagine the experience they are gaining will look on their CV.
Invest in their training and development
In today’s tough job market where there is strong competition among companies for talented employees, employers need to understand that the training and development they extend will not only make employees more able and more valuable, but will also act as a powerful incentive for them to stay. According to the Bayt.com Career Development in the Middle East and North Africa survey from January 2015, 82% of respondents – a great majority – say they would leave their current company for better training opportunities.
Naturally, organisations are always at risk that their staff will leave at one point or another, taking their new skills with them. Yet, employees of organisations that do not provide suitable training and career development opportunities have little motivation to stay. This is a paradox, but it is one with a simple solution: accept that employees are more likely to leave if they aren’t trained.