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Be the Employer of Choice
Keep your talent
Have you ever read some of those click-baity articles compiling posts in which people describe what finally made them quit a bad job?
Even a limited perusal will show that people will quit jobs in which they are undervalued, disrespected, or treated poorly. And a recurring theme is that, after the employee leaves, the supervisor contacts them shortly afterward and begs them to come back, because they finally see how valuable that employee truly was.
Don’t be like that.
Look around at all of the people in your office right now, and take a minute to think about all the things each of them do for your team. Consider about all of the time and cost it would take to replace and train up someone to do what they do. Consider the interpersonal factors—how nice it is to see them in the office, how other people enjoy working with them. Feel the value of the person, as well as the employee.
Then make sure they feel it from you. If you are an employer, you need to wrap your mind around the idea that good employees are going to need generous raises this year. Plan for it. You competition is most likely hiring, and you could lose great people if you don’t walk-the-walk and show them their worth. Tell them how much you appreciate what they bring to the team.
Even in “normal” times, replacing a skilled employee can cost 30-70% of their annual salary, if you factor in the costs of recruitment, the hours put in by HR and other interviewers, and the training time to onboard a new hire. Keep the great people you have happy.