Who are the five most valuable people in your business? What would happen to your business if just one of them left?
In any business, people are your greatest asset.
Yet, we tend to take more care of our capital assets. We insure them adequately, we maintain them well. We have back-up power and a back-up plan so that interruptions are minimised.
We know who our best people are, we know the people who have unique knowledge or skills. We know there would be an enormous gap if they left the business. Yet we take very little proactive action to keep them, nor do we often have a back-up plan.
Keeping Your Best People
What can, and what should you do, to keep your best people engaged, thus making it less likely they will be lured by your competitors?
People become, and stay, engaged when they feel motivated to do their best work and when they feel appreciated for their contribution to the team and the business.
It is therefore critical that you know precisely what motivates each person in your team. Is it ensuring that they have interesting and challenging work? Is it knowing that they will have the resources to do their job? Does the group of people they are working with on the project motivate them? Is it knowing that their ability and willingness to do a variety of tasks increases their job security?
Each person has 3-5 strong motivational drivers and when you know these you can ‘push’ these drivers and thus help the person to become, and to remain, strongly motivated.
When people are highly motivated they do their best work and they feel a high level of satisfaction. They are highly engaged and are unlikely to seek work elsewhere.
There is a pertinent quote: ‘We go where we are wanted, we stay where we are appreciated.’ Often your best people achieve exceptional results, autonomously and quietly. They don’t demand resources or feedback, while others who are less competent and less confident can demand much of your time and energy. As a result, it is easy to unwittingly take your best people for granted, and eventually, they feel unappreciated and become open to approaches from your competitors.
Jim Collins in his book ‘Good to Great’ said that for a business to succeed you should ‘get the right people on the bus’.
The secret you then need to know is how to keep those people on the bus.
To ensure you retain your best people, understand motivational drivers and get the best out of your staff, inquire about our ENGAGE FOR SUCCESS program – a dynamic 2-hour workshop designed to help create world class teams in your business.