Happy people

Reward

The most common reason for looking for a new job is the search for a higher salary. Are you consistent with your salary reviews, are they competitive and do you manage expectations?

It may also be appropriate to assess the overall benefits package. For example, would more holiday be an attractive proposition or does your pension scheme act as a strong incentive for employees to remain with the company?

Recognition

Praise and recognition for completing a difficult project on time or devising an innovative solution can be an effective tool to keep employees motivated and maintain focus. Continuous negative feedback will damage work relationships, make the working environment negative and hinder productivity.

If an employee has worked well, make sure they know it - it will spur them to work even harder.

Work-life balance

Remember that your employees do have a life outside of work. If a suitable work-life balance is fostered, employees will be less stressed, more creative and you will enjoy an increase in productivity.

Consider requests for flexible working patterns seriously. Employees are increasingly asking for flexi-time and working from home - could you extend these benefits to all members of the workforce? Is there anything you could do to reduce stress levels?

Training

The emphasis that employees place on training varies throughout their career. Graduates often request external training programmes that will give them a recognised professional qualification. Later in their career employees may be looking to take an MBA.

Development

A lack of development opportunities is often cited as a significant reason for leaving an employer. Fast track schemes for key performers and secondments to clients may be effective ways of keeping employees. Equally, a candidate might be attracted by the possibility of working overseas on international projects.

Challenge

Employees often thrive on a new challenge and increased responsibility. Set a challenge and monitor the results. Reviews are a good time to set individual targets which provide employees with a goal - it is crucial that these are attainable or it can be very de-motivating.