The job market is finally looking
brighter: Recruiters are circling, pay is climbing and companies are scrambling
to keep their best employees from leaving.
Tempted
by the prospect of landing a better gig, 85% of the workforce is looking for a
job or interested in talking with recruiters, according to a survey released
Tuesday by LinkedIn. That even includes people who are "satisfied"
with their jobs.
If
you don't want to lose talented employees, here's how to keep them happy and
engaged.
Give them a voice
As
CEO of design firm Slice of Lime, Kevin Menzie knows competition for his
employees is fierce. So Menzie ensures his 15 employees feel like they are the
company, instituting monthly "retrospectives" to discuss what's
working and what's not.
That
can be tough at times, like when Menzie had to deny their request for gym
memberships. But he left the topic open for future consideration. "I think
it's riskier not to listen," he says.
Kathryn
Minshew takes a similar approach as CEO of The Muse, a career website in New
York. She promises transparency and answers her 15 employees' questions on
fundraising, finances and hiring plans. This puts any frustration out in the
open and boosts loyalty.
"Not
every decision is made by consensus or democracy, but it leads to creativity
and people being extremely invested in what they do," she says. Her firm
has lost just one employee since 2012.
Check in often and say thanks
The
traditional yearly review won't cut it in 2014, says Allyson Willoughby, a vice
president at Glassdoor.com.
To
ensure regular feedback, New York-based Quirky.com uses automated software
called 15Five for weekly check-ins. All 189 workers get questions about what's
going well, where they're stuck or how to improve their jobs. As a result,
managers have time to think through challenges before one-on-one meetings,
which can be spent brainstorming solutions, says Rochelle DiRe, a Quirky vice
president.
"Plus,
our CEO knows exactly what is going on with everyone and can shout out to people
who are doing a good job," she says.
That
kind of recognition goes a long way. Jeremy Bloom, CEO of cloud software firm
Integrate, sends thank you notes and bottles of Dom Perignon for a job well
done. "Thoughtfulness," says Bloom, "is a key ingredient to
building loyalty."
Offer professional -- and personal --
development
Lack
of career growth is a big reason people leave their jobs, says Beth N. Carvin,
CEO of exit interview firm Nobscot Corp. She's seeing more companies start
mentoring programs to prevent that.
That
includes Luggagefree, a New York-based luggage delivery service. President Jeff
Boyd wanted a cost-effective way to boost personal development for his 15
employees. He settled on Everwise, which acts as a Match.com for mentors and
protégés. For $1,500 per person, Boyd provide outside mentors who offer fresh
ideas for career growth.
"My
hope is that they'll be self-empowered and feel better about their colleagues,
about our clients and about Luggagefree," he says.
Meanwhile,
IdeaPaint, which makes dry erase paint for walls, wants to stimulate its 30
employees by turning its new downtown Boston office into a community center.
Just this month, it started hosting speakers and roundtable discussions before
and after work. Open to anyone, they've already boosted company morale.
Give them a break
Perks
like gym memberships and free bagels are great, but sometimes just a break from
the office can build morale and boost loyalty.
One
of the most popular perks at Quirky is the week-long "company-wide black
out" every quarter (which is on top of unlimited vacation time).
"Knowing
you get this break gives you a sense that you're working towards something
together," DeRe says.
Slice
of Lime owner Menzie treats his employees to ski vacations and "creative
experiences," like a recent trip to Universal Studios. People can propose
their own "outties" on an online list.
Menzie
also lets employees spend 20% of work hours on personal interests, and he keeps
an open Amazon account for employees.
The
perks, he says, cost far less than replacing an employee.
"You
get that money back because they're staying, they're happy and they're doing
great work," he says.
From
CNN Money
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