It’s a manager’s worst nightmare. Your best-performing employee who consistently knocks every project out of the park puts a one-on-one meeting on your calendar. The conversation starts out innocently enough, until they say, “Listen, I’ve received an offer I cannot refuse.”
When a high performer leaves, it changes everything. Not only do you have to shift priorities to hire their replacement, or sometimes multiple hires to handle their activities, the rest of your team feels a shockwave.
When a high performer leaves, it changes everything. And most managers never see it coming.
Retaining top talent and keeping them engaged in your organization’s mission is critical to success. When top talent leaves, you lose their institutional knowledge, skills, and, more importantly, vision. The loss reduces team cohesion, straining relationships and disrupting workflows.
Here’s how to keep your best employees engaged and less likely to be lured away by competitors.
How to retain your top performers
Managers must focus on understanding what motivates their teams and how to cultivate an environment where fulfillment and purpose thrive.
Understand individual motivations
Every employee comes to work with unique motivations shaped by their personal experiences and aspirations. Motivation Code helps managers recognize and categorize these drivers to best support high performers in their dynamic roles. By understanding the eight Motivational Dimensions, managers can tailor strategies that align with their team members’ intrinsic motivations.
For example, an employee whose primary motivation is Achiever may need challenging tasks that allow them to showcase their abilities and gain recognition. Conversely, a Relator might find motivation in building strong interpersonal relationships and team cohesion.
When managers take the time to understand these motivations, they can create assignments that engage their teams and resonate deeply with their core values.
Invest in a positive work environment
Your organization’s culture matters. A positive, inclusive, and supportive work culture can significantly boost employee morale. Encourage open communication, celebrate successes, and ensure that every team member feels valued.
Creating an inclusive and supportive work environment begins with promoting open communication. Regular check-ins can help managers assess employee satisfaction and identify any ongoing concerns. Incorporating methods such as one-on-one meetings, anonymous surveys, and feedback sessions can greatly enhance an organization’s motivational landscape.
Additionally, recognition goes a long way in retaining talent. Employees who feel appreciated and acknowledged for their contributions are likelier to remain loyal to the organization.
Tailoring recognition to align with individual motivations is crucial; for instance, an Optimizer may appreciate feedback on process improvements, while a Visionary thrives on recognition for their innovative ideas.
Reward high performers competitively
Ensure your salary offerings are competitive within your industry. While money isn’t everything, it’s a fundamental aspect of job satisfaction. Conduct annual salary reviews and adjust compensation packages based on market rates and individual performance.
Recognition goes a long way, but if employees know they’re underpaid, it can affect motivation, fulfillment, and engagement.
Create career growth opportunities
Employees are more likely to stay if they see a clear path to advancement. Provide talent development, training, mentorship programs, and opportunities for professional development. Knowing the vision for growth and a career trajectory aligns daily tasks and overall projects with an employee’s vision for their own motivation.
Create personalized development plans for each employee, detailing potential career paths within the company.
Recognize outstanding performance
Recognize and reward good work regularly. This doesn’t always have to be monetary; public acknowledgment, awards, or additional days off can be highly effective.
Recognition looks different for each Motivational Dimension. If someone is driven by individual performance, as an Achiever is, then rewarding them for being a team player diverges from their personal motivation. An Achiever wants recognition for their individual contribution. Make sure your recognition aligns with how they value themselves.
Implement a peer-recognition program where employees can nominate each other for recognition and reward.
Allow for work-life balance
Promote a healthy work-life balance. Overworking employees can lead to burnout, making them more susceptible to poaching. While most high performers give their all and are incredibly committed to their work and achievements, they know the importance of balance and time off and often have personal passion projects that help them feel fulfilled.
Many managers find it tempting to take critical projects from lower-performing employees and give them to the high performers they trust. However, be careful not to “reward” the trust you have in high performers with overwork.
Offer flexible working hours or remote work options where feasible, and ensure that overtime is the exception, not the rule.
Communicate transparently and often
Transparency about company goals, challenges, and changes builds trust. Engaged employees feel part of the bigger picture and are more personally invested in outcomes beyond their immediate tasks.
For Learners, it’s critical to have a deeper understanding of the justifications for overall strategies. Make sure they get the data they need to fully understand organizational objectives, and task them with sharing their learning with others.
Hold monthly all-hands meetings where executives share updates and future plans.
Encourage team bonds
Strong interpersonal relationships can make employees think twice before leaving.
Encouraging team collaboration and networking within the organization promotes retention. Building diverse, cross-functional teams allows employees to collaborate with colleagues who might stimulate their motivations differently.
By recognizing that every employee brings unique qualities and perspectives to the table, managers can create a sense of belonging and sociability that enhances job satisfaction.
Offer great benefits
Offer a benefits package that goes beyond health insurance. Think wellness programs, mental health support, or even family-friendly policies. Explore your employees’ unique motivations and determine what might align with their goals.
Health and wellness perks can not only increase employee fulfillment but also give greater fulfillment. Introduce a “wellness day” once a quarter where employees can focus on their health without work distractions.
Take action on feedback
Regularly solicit feedback through surveys or one-on-ones and demonstrate action on that feedback. When employees see their input leads to change, they feel valued and are more likely to communicate ideas, needs, and solutions to problems. Have a clear mechanism for management to review and respond to feedback.
Learn from turnover
When employees do leave, conduct thorough exit interviews to understand their reasons. This feedback is invaluable for improving retention strategies. Use insights from exit interviews to address common pain points for remaining staff.
High performers leaving are the first sign something is wrong
High performers have options. If something in your organization is amiss, a resignation letter from your best people is a sign that changes must happen in leadership and management.
By implementing these strategies, you’re not just preventing your talent from being poached; you’re creating an environment where employees want to stay and grow. Remember, the goal is to make your workplace the one where everyone wants to be. Keep evolving your strategies based on feedback and changing market conditions to ensure you’re always ahead in the talent retention game.
Understanding how employees are motivated is critical to learning more about motivators and enhancing employee engagement. Using Motivation Code throughout your organization can uncover problems before they arise, allowing you to retain good employees and keep your best talent from getting poached by the competition.
