Retaining your top employees is key to the long-term success of your business. It is commonly agreed that keeping your best employees ensures increased product sales, happy coworkers, and greater productivity. Failing to keep a key employee can be costly to your bottom line and creates organizational issues within the business. It can result in coworkers that are insecure about their future, excess job duties that other employees must absorb, and increased time and effort into hiring and training a new employee. Use these 5 tips to retain top talent at your business:

It’s nice to be recognized for achievements in the workplace. Yes, monetary bonuses are great, but recognition of great work can go a long way to retaining your best employees. Recognizing the work of an employee can increase trust as well as make them feel appreciated. It is key to make your employees, especially your top performers, feel like they are respected and worthwhile. Be sincere in your praise. You’d be surprised what a difference sincere, heartfelt praise can make in keeping your best employees.

In an age of increased technological advances, communication and telecommuting are easier than ever. Obviously, there are some jobs that require an employee to be in office. However, if you can give your employees the freedom to work from home occasionally and give them that flexibility, this can be a huge perk for them. You may find that a allowing for flexibility in their schedule will make them more productive. A great employee might need a better work, life balance and this flexible schedule can help get the best out of them as well as ensuring their future at your business.

Feedback. Give your employees honest feedback and be willing to listen to the concerns of your employees. Be open and listen to any new ideas that your employees may have. This will increase trust between you and will give them a platform to voice concerns or ideas they may have to better the business. In time, open communication will create an honest culture where your employees feel they have a voice. Keep your top talent informed about what is really happening at the company and what direction they are heading.

Top employees are ambitious. If they feel they are not respected and an important part of the business, they will search for other opportunities that will fulfill this need.  The top talent at your business is an asset to you. Make it known to them about how important they are to you as a manager and to the business.

As mentioned in the previous point, the top employees at your business are ambitious. They are not content to stand still and are always looking to improve. Provide in-house training to better their skills and help them develop as professionals. Sometimes, when top talent feel that they cannot grow anymore in one job, they will look for new opportunities to develop. Help them in their perpetual growth and they will stay at your company for the long-haul.

Use these five tips and you are sure to retain your top talent. If you want to add top talent to your team, contact us and our recruiters will help you get the best talent. Connect with us and we will connect you with the best talent on the market.