9 Tips to Retain Top Performers

It is not uncommon for ambitious employees to rank among the top 10% of their field.

It's rewarding to have dedicated, ambitious employees, but it can also be scary since if they are unhappy with you, they won't hesitate to leave.

The work culture and policies of your company have to change if you want to retain top performers.

While your robust recruitment strategies may have helped you acquire this impressive crop of talent if they are not rewarded appropriately with career development opportunities, appreciation, and promotions, the risk of them leaving increases.

Here are a few ways to retain your ambitious crop of top talent.

1. Make them feel like your business partners.

Make sure you don't micromanage your best performers if you want them to remain vested in your company.

  • Provide them with autonomy.

  • Allow them to control the ownership of their work.

By trusting them, you give them the opportunity to perform at a higher level.

2. Recognize the value of your employees.

A high-performing individual is innately driven to be appreciated and recognized.

Be sure to let them know how much you value their contributions.

According to a study, praised and recognized employees are more productive, more loyal, and more likely to remain with a company.

The more your employees' hard work, dedication, and teamwork are appreciated, the more fulfilled and satisfied they feel at their jobs. The act of recognizing employees creates a culture of appreciation, as well as increases productivity.

Overall, employee recognition motivates your employees and makes them feel that they are a key part of your company.

3. Feedback

  • Provide constructive feedback.

  • Provide truthful feedback.

  • Provide objective feedback.

Negative feedback is unpleasant for everyone, and it is even worse for your best performers.

The top performers, however, will usually turn this constructive criticism into a learning opportunity.

The more objective and unbiased your feedback is, the more likely they are to hear you out and fine-tune their performance.

Your employees will feel their growth matters when you continuously give them feedback. As well as learning how to work better, feedback allows your top employees to advance their skill sets and raise their levels of knowledge. A sense of fulfilment and happiness in a career is essential to your top performer’s well-being.

4. Invest in their growth

It's obvious that your best performers are highly ambitious.

They have a growth mentality and are inherently driven to grow professionally and personally.

Create an environment that enables them to meet this need. By sponsoring certification courses and training sessions to develop their skills, you can invest in their growth. Top performers strive to advance to the next level of their careers through growth opportunities.

5. Provide them with new responsibilities.

As your employees reach their maximum potential, give them new responsibilities. Give them the opportunity to mentor new employees or colleagues.

Studies showed that employees who mentor others feel confident, capable, motivated and proud

6. Get a sense of their emotions and attitudes.

You will be able to gain a great deal of insight if you pay attention to their feelings and attitudes.

Employees want to be heard! Employees feel like their opinions don't matter when their grievances aren't addressed. Taking your employees' suggestions into account can make them feel appreciated and part of the team. As a result, they become more engaged and happier.

7. Money is not always the most motivating factor.

Employee engagement is not always guaranteed by monetary rewards.

It is a sign that your company is not on solid ground if your best people just work for money. Rewarding employees with money is often merely a temporary solution.

Try to motivate your employees on an intrinsic level if you want long-term results. Examples of such benefits include free lunches, childcare facilities, and flexible working hours.

8. Maintain an open line of communication.

Top performers can be retained if you have transparent communication channels.

Keeping your employees in the loop regarding your thoughts and plans each week will foster an open atmosphere.

Inform your employees about the importance of business performance and how their efforts contribute to success. Until you master open communication, you cannot expect your employees to do the same.

9. Seek their input and ideas.

The majority of the time, employee input and ideas are not sought before making decisions. Make it a point to look to your top employees for suggestions before announcing a decision.

Including them in strategic planning and decision-making meetings gives them a voice.

If you ask your employees for their ideas, you will be surprised how many brilliant solutions you will receive; in turn, keeping them motivated and increasing their productivity.