If you think of outperforming your competition only in terms of market share, think again. Without also ensuring you’re better than your competitors when it comes to company culture and talent management, you may find yourself losing your share of talented employees. If you don’t want that to happen, one of the most important steps you can take is to let your people know that they are valued. Here are three ways to get started:
- Develop and implement a program of rewards and recognition. Give them credit for their contributions to the company and make them aware that you see them as an integral part of the company’s future. You can’t assume that people always know their own worth or feel that their good work ‘speaks’ for them. It is up to the organization’s leadership team to champion the people you really want to hold onto.
- When it comes to why people quit their jobs, studies show that pay and money, in general, are way down on the list. By far the main reason people leave is lack of opportunity for growth and, by implication, advancement. Also high on the list is the relationship with their managers. It’s so important for managers and leaders to understand their people’s needs and inner motivations, in addition to their observable skills and abilities.
- Provide opportunities for people to develop their talents. When employees feel invested in, they’re bound to feel more valued. They are then likely to feel that the company cares, see more opportunities than before, and stay the course with you.