13 Innovative Employee Retention Tips from Business Consultant Gregory P. Smith

Monday, January 25, 2010 by Mark Harbeke

Don't let your best employees out of your grasp.I hadn't thought about the childhood saying "Finders keepers, losers weepers" since, well, childhood.  I was reminded of it again today when I came across this post on the Assessment Competency blog by business strategy consultant and leadership speaker Gregory P. Smith.

The expression is an apt one when it comes to companies' efforts to engage employees to increase employee tenures and reduce turnover to boost competitive advantage.

Deftly addressing the trials and tribulations of leading a multi-generational workforce and assigning hard costs to turnover, Smith provides a baker's dozen employee retention tips that your organization should consider adopting ensure the right people are "on the bus":

  1. Hire the best and avoid the rest.
  2. Provide flexible work schedules adapted to the needs of the individual.
  3. Get rid of the slackers and whiners.
  4. Soft skills are becoming the hard skills.
  5. If they can't "move up" they will "move out."  (A case for employee leadership development.)
  6. *Create an early warning detection system.
  7. *Create an alumni program.
  8. Look for triggers.
  9. Take the temperature of your workforce.  (We offer one way to do this here.)
  10. Complete an Individual Retention Plan on your best employees.
  11. Focus on the family.
  12. Identify and weed out poor managers.
  13. *Adopt your employees.

I placed an asterisk (*) next to practices that are particularly innovative and "outside the box."  Who knows – they might work best for your workplace.

Are you using any of these engagement activities in your firm?  If so, which have delivered the best ROI?

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