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Protecting Your Most Valuable Assets

(June 2013) posted on Tue Jun 04, 2013

How to make your employees happy in your workplace and ultimately hang on to the best ones.


By Marty McGhie

The rewards don’t have to be extravagant. For instance, our department managers have access to $25 gift certificates for a movie pass for two and some extra cash for popcorn and drinks. They can give those out randomly whenever they find someone doing a great job. It’s amazing the amount of good will $25 can earn your business when it’s spent in a positive way.

Create internal opportunities
Whenever possible, you should promote from within your organization. When a job opportunity opens up in your workplace, your employees will watch very carefully how you fill that position. Even the ones who are not applying for the position will have interest in who gets hired. All employees will be watching to see whether or not there are opportunities within the company to advance their careers – now or down the road. If someone is qualified (or very close to being qualified), it will serve you well to promote within. The positive effects of an employee being promoted to a higher position within your organization can’t be overstated.

To that end, make sure that you always advertise internally all job openings in your company. And as various employees apply for job openings, ensure they all get the chance to go through the interview process, even if they might not be the best qualified.

Often, some employees might know that they aren’t the most qualified; and they realize they probably won’t be offered the position. But, they might be using this opportunity to make sure you, as a manager, are aware that they’re very interested in moving up within the company as other opportunities arise. Don’t blow that chance to have a positive discussion with them about their future by simply brushing them off because they might not have the qualifications right now. Instead, take the time to talk to them about their expectations and see if they are indeed aligned with the company’s future. Doing so will let them know you value what they’re currently bringing to the table, and that they’ll be considered for future positions.

The long haul
I’ve never forgotten the lesson my accounting professor taught us that day all those year ago. Now, many years later, I couldn’t agree with him more: Your company’s employees truly are your most valuable assets. You can take a variety of actions to protect those assets – the trick is to ensure your shop’s employees feel wanted, and that they wish to remain with your company for the long-haul.
 


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