How to Retain Your Best People
With the slow down of the economy, daily reports of lay-offs and the fact that we are a public institution with good benefits, it is easy to take our employees for granted. However, there are still lots of organizations that are hiring.
You may also believe that because the Medical University has many long-term employees that you have nothing to worry about. Have you ever heard of on-the-job retirement? The person still comes to work everyday, but they contribute very little.
In the book, Love'em or Lose'em, by Beverly Kaye and Sharon Jordan-Evans, the authors explore what managers can do to retain their best employees. The following information from the book lists in order of popularity and frequency, the most common reasons why people stay and remain productive within an organization:
- Career growth, learning and development
- Exciting work and challenges
- Meaningful work, making a difference and a contribution
- Great people
- Being part of a team
- Good boss
- Recognition for work well done
- Fun on the job
- Autonomy, sense of control over my work
- Flexibility in work hours and dress code
- Fair pay and benefits
- Inspiring leadership
- Pride in organization, its mission and quality of products
- Great work environment
- Job security
- Cutting-edge technology
It is important to note that research during the last decade continues to confirm that salary is not the prime reason why employees leave an organization. As you study the list above, it appears that managers exert the greatest influence on employee retention and productivity.
Please call your Employee Relations Consultants, if you would like to discuss retention strategies for your department.