Manager of middle and back office – financial services at ConnectedGroup.
Giving your staff due recognition can play a big part in keeping them
With an endless war for talent and the consequent brain drain in the job market across various industries, it is becoming increasingly crucial for organisations to increase motivation to boost and maintain workplace satisfaction, which in turn helps to sustain a productive office.
One solution to managing staff motivation and preventing high turnover is first-class succession planning. This starts with accepting that, in this day and age, few people will spend their whole career within one organisation. In fact, movement between jobs, divisions and industries is very common and in most cases seen as a sign of ambition and versatility.
To hold on to quality staff, companies should promote learning and development programmes. Good candidates need to know there is a “next step” for them within their current company, so they don’t feel they have to change jobs to further their career. Encourage your staff to suggest training programmes that they want or may be interested in and go from there.
To inspire a general positive attitude within the workplace, senior staff must maintain a consistent policy of staff management. It is important that people know where they stand and how they are assessed. This includes setting clear priorities and responsibilities at the beginning of the year. Outlining what needs to be achieved gives employees a goal. Those who achieve their goals and complete what they have been assigned are likely to feel a sense of achievement which will enhance their motivation to excel in the workplace.
Employees should be recognised among their colleagues when they have exceeded expectations or excelled in a certain project or area. Staff recognition should not be underestimated and is one of the most powerful motivational tools.
Giving staff rewards for their success is a tried and tested motivator. When employees see they are rewarded and appreciated for their efforts, they will often be less inclined to move away from a motivating and inspiring environment.
This article appeared in the Classified Post print edition as Giving credit.