Blog June 12, 2012

Ten Ways to Retain Good Employees

By Nicola Byers

Ask a senior manager in any industry to name his or her most valued asset and the answer will be “good people”.  Not only are they the most productive, but replacing them is both difficult and costly. As Managing Director of the Real Asset Management Group, I know how important it is to be proactive in ensuring that the best people want to stay with us. To help me and my fellow managers achieve this aim, we use the set of guidelines below for running the business – our ‘Share Scheme’.  It seems to have been very successful, as over 30% of our colleagues have worked with us for more than 10 years.

1. Share Ideas

Encourage people to be innovative.

2. Share Space

Have open plan offices where managers work with their teams.

3. Share Knowledge

Provide training that is useful to both the company and to the  individual’s career.

4. Share Plans

Keep everyone involved in the long-term objectives of the enterprise.

5. Share Strategies

Publish the business plan and invite discussion.

6. Share Results

Issue summarised accounts each month and explain what’s been happening.

7. Share News

Provide a company Intranet to distribute information about business and personal events.

8. Share Profits

Involve everyone in the profit objective and reward through a bonus scheme.

9. Share Ownership

Implement an employee share scheme to align stakeholder interests.

10. Share Responsibility

Establish a no-blame environment that allows people to be creative and to make mistakes.