Every organisation is looking for achieving outstanding revenue in every quarterly cycle, and it’s a well-known fact that they cannot reach the targets without their Top Performers. Retaining key resources in the organisation and safeguarding them from competitors is one of the most important tasks for the C Level Executives.
These employees are the driving force for the organisation. They are the ones who improve your bottom line by closing more deals, creating more effective strategies, analyzing problems smartly & coming out with implementable solutions and much more.
The question really is how companies can retain their Best Performing Employees.
First of all, the employers need to understand the importance of Employee Retention or else they will surely lose out on the best very soon. Second, they need to avoid doing the following mistakes in order to keep the resource pool intact:
- Failure to give Apt Recognition: Majority of Orgnisations fail when it comes to rewarding performances. The employers need to be completely objective when it comes to recognition, and should ensure that the right person is being appraised on the right time.
- Poor Incentive Design: The employers need to design a clear incentive plan where they should align Employee Performance to the Set Performance goals, so that employees can always match their performance to the set standards and try to improve more in order to get the benefits on offer.
- Lack of Communication: Employers need to understand that apart from compensation, it’s the communication that matters equally. The Managers and Top Management should communicate on a regular basis with the employees to make them feel their importance and value. This fosters the idea amongst the employees that your organisation is a happy place to work, and it prevents them to look for work elsewhere.
Our product Sapience provides useful insights and assists the HR Department as well as the CXOs to manage their key resources well and helps in reducing attrition. It provides effort Analytics at an enterprise level, offering the Work and Effort Visibility of the employees to them and their managers, which allows them to timely recognize the Top Performing Employees.
Moreover the managers are able to set performance goals for the employees by analyzing the data which helps the employees to match their progress against the set goals, which motivates them for achieving the benefits on offer.