January 25, 2017 / by NAED Education and Training Team

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If you don’t want your best employees walking out the door, you need to have a strategy in place that meets their individual needs for career development, work/life balance, and recognition.
  1. Foster employee development. Your best employees must have the opportunity to learn new skills. They need the opportunity to attend seminars, take an online course, or be a member of cross-functional teams or they will stagnate. NAED recommends 40 hours of formal training for each employee every year.
  2. Provide a career path. Two drivers of turnover are feeling stuck and without the potential for growth. Meet with employees regularly to talk about their professional goals and how you (and your company) can help them reach those goals.
  3. Clear communication. Your employees want to feel like they’re an important part of your company. They need to know how the business is doing and what they can do to help reach your goals.
  4. Offer work/life balance. Flexible work arrangements can be a huge benefit for most employees. Allowing them to effectively manage their work-load as well as their family life shows that you care about their wellbeing.
  5. Employees must feel rewarded, recognized, and appreciated. Frequently saying thank you goes a long way. Rewarding and recognizing your employees creates a positive culture where people want to work. When employees feel that the leadership team notices and values their contributions, they become more motivated and their loyalty strengthens
Take a look at your employee retention practices. Share in the comments what you are doing to keep your best employees.
NAED is the trade association for the $70+ billion electrical distribution industry. Through networking, education, research, and benchmarking, NAED helps electrical distributors increase profitability and improve the channel. NAED’s membership represents more than 5,100 locations internationally.