HOW TO KEEP YOUR HUMAN CAPITAL LONGER

In a competitive market, good employees have more choice than ever before. And maximizing your investment in human capital has become a top priority of every leading organization. One of the most frequent questions we receive is, “How can I keep my employees longer?”

First, it’s not just about the money. Most organizations feel that if they just keep paying employees more, that they will stay longer, but recent studies show that other factors may lead to increased loyalty.

Most employees need, and in many cases, are demanding work-life balance. But remember, this might be different for every individual. This leads us to a second high-priority benefit—being open, honest and transparent with your team. This includes helping them understand the mission and priorities in the company and how they fit into the big picture in contributing to the organizations growth and success—including a clear path to growing inside the business.

Another key factor in keeping employees engaged is peer recognition. When someone does a great job, make sure they are publicly recognized, praised and thanked. Many employees said they would prefer public recognition for a job well done over financial compensation.

Keeping your human capital longer boils down to one thing—keeping your employees happy. Happy employees are smarter, more productive, more creative, more inspiring and provide a higher quality of customer service.

Keeping your employees happy requires more open and honest communication about what is important to your team, then finding a path that is rewarding.

FM Talent can help you develop and deploy a more successful employee compensation and/or benefits program that will ensure a stronger return on your human capital investment strategy. Reach out and start a conversation.