How to Retain Employees: Answering the Age Old Question

How do I effectively retain my best people and reduce employee turnover? If you are a leader of a business you have probably been asked this question a million times, and you’ve probably asked it yourself on occasion. So, why can’t people seem to grasp the answer? The answer to that is simple. Most leaders rely on what they THINK their employees want, rather than actually ASKING their employees what they want. Do you see the difference?

In order to learn how to retain employees, you need to find out what motivates them. And to motivate your employees you need to give them what they want and not what you think they need.

What Employees Want Survey

LinkedIn surveyed 11,813 non-managerial employees and asked them what they value most in a job. Here are their top ten answers.

  1. Compensation and benefits
  2. Good work/life balance
  3. Culture that fits my personality
  4. Ability to make an impact
  5. A place I would be proud to work
  6. Job security
  7. Values employee contribution
  8. Strong career path
  9. A company with a long term strategic vision
  10. Challenging work

Do any of these answers surprise you? Yes, it’s true that most employees place a lot of value on how much they are paid, but that is just tip of the iceberg when it comes to their overall job satisfaction. So, when it comes to answering the question, “How do I retain my employees?” the answer is multi-dimensional and a lot more in-depth than ten three word answers.

The next time you find yourself asking this question, be proactive. Survey your employees, open the lines of communication and show that you value their opinions. Just by taking that first step, you will be surprised by how much happier and motivated your employees will be.