Good employee is hard to come by these days. With the companies’ turnover rate so high, it’s hard for a company to retain its best employees. However, just like everything else, it is still possible.

Let’s look at few reasons why a good employee chose to stay put in a company.

  1. Good pay
    • Everyone needs money to survive and to get our ‘needs’ and ‘wants’.
    • A good pay or remuneration package will definitely encourage people to stay in the company longer. It’ll also attract other people to join the company.
  2. Good employee benefits
    • Benefits such as medical coverage, employee stock options and other benefits provided by the company will encourage employees to remain in the company.
    • Other companies such as Google, gives allowance to its employees for doing independent projects…which in turn,promotes innovation.
  3. Provides training and career advancement
    • Companies which provide training to its employees (soft or hard skills), normally can attract and retain good employees who are looking for ways to improve themselves.
    • A good career prospect or advancement is also an important criteria. Nobody would want to stay in the same position inside a company for too long. Sooner or later, the person will get bored with the job. Thus, a proper career advancement plan is a must.
  4. The company has a lot of talented people working in it
    • Everyone wants to work with good and talented people. That’s the way to improve oneselves.
    • If a company managed to retain a lot of its good employees, it’ll definitely attract more and more people to it.
  5. The company respects its employees’ contributions
    • This is one of the most important conditions.
    • A company which cherishes the contributions from its employees will definitely retain most of them.
    • Nobody wants to work for a company which doesn’t appreciate their work.
    • If an employee feels he/she is contributing to the company, he/she will surely opt to stay longer in this particular company.
  6. Flexible working hours
    • Sometimes, people have something urgent to do – family or personal matters. A company which provides flexible working hours will definitely be attractive to this group of individuals.
    • The time when everyone needs to work from 9am to 5, is no longer present now (unless you need to do a lot of customer facing).
  7. Correct job scope
    • During the interview, the interviewee will ask the details of the job description. Providing an accurate job scope is as important as the benefits and salary.
    • This is because people only apply a job when they feel they can learn in that field of expertise. People wouldn’t want to be wasting their time on other fields.
    • For exmaple, I’m sure nobody wants to work as a tester when he/she was supposed to be working as a customer relationship officer.

Fact is, it is never easy to retain good employees…….since other companies (maybe your competitors) will be hunting for them as well. Check out this link from EWEEK, on the best places to work in the US for year 2006 – http://www.eweek.com/article2/0,1895,2080525,00.asp

So, is your company one of those listed? 🙂

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