PPB July 2019

A n article in January’s issue shared recruiting ideas for finding good hires in today’s tight job market. This month we’re focusing on some ideas for retaining your best employees as the market continues. In a strong economy, your business could be at risk of losing its best employees as your competitors work to lure them away. Maybe your employees are just looking around for a higher salary and more opportunities. Or maybe they’re just plain unhappy where they are. A 2018 Conference Board survey reported that only 43 percent of employees are happy in their current positions. That number is up slightly from previous years, but the percentage of happy employees still represents the minority of the workforce. So how do you keep your best people without breaking the bank? This, too, is a complex issue with no simple solution. There are some steps, though, that you can take to increase retention. And the good news is they don’t all involve big salary increases. 1 Invest time and dollars in your managers and supervisors. According to a recent Fortune.com survey (and lots of other surveys, too), the No. 1 reason people leave their jobs is because of bad supervisors and managers. “Bad” supervision and management comes in all It’s time to talk again about pay, but there are other strategies, too. by Susan Palé, CCP Five Ways To Keep Your Best Employees 62 | JULY 2019 | THINK