Tips for Retaining Top Notch Employees

Employee retention strategies are increasingly critical in the highly competitive medical job market. Losing a top employee can be devastating to both company morale and the bottom line. The time and money lost recruiting another employee, who may or may not be a good fit, can be exhausting.‌ When it comes to retaining top talent the old saying "An ounce of prevention is worth a pound of cure" is timely. Consider following these employee retention strategies to ensure that your top team members remain happy and don't pursue employment options elsewhere.

Ensure Civility in the Workplace

One easy employee retention strategy is to ensure that civility is maintained in the workplace. Civility is not dead, and this is especially important in today's workplace where most people spend extended hours interacting closely with differing personality types. Employees commonly cite workplace hostility as a primary reason for leaving an organization.

Companies seeking to improve their employee retention strategies need to be cognizant of employee moral levels and conflicting intrapersonal relationships. This can ensure that as problems arise between employees or administration they will be addressed in a timely and effective manner. Companies that foster civility in the workplace with clearly defined expectations regarding proper behavior and consequences of violation are more likely to retain their top notch employees.

Address Employee Stress

Stress can be overwhelming and detrimentally effect both the mind and body in a myriad of ways. This is especially true in medicine where life and death can hinge on a single decision. When working in such a high pressure environment, stress can negatively affect productivity and long term employee retention levels due to burnout. Addressing the stress felt by employees is a critical component of a successful employee retention strategy.

Many employees report that access to support or counseling services can be a real benefit they are looking for from an employer. Consider educational programs to help with stress reduction in the workplace like on site meditation or yoga classes, counseling or therapy. It is also essential to promote a nonjudgmental atmosphere in the workplace in regards to stress. People can process stress differently, so approach stressed employees with an open and supportive attitude. Provide them with access to resources that may assist them with coping or pursuing treatment if necessary.

Provide Competitive Compensation

Competitive pay is a big factor driving employee retention. Our final employee retention tip is to ensure market-rate compensation and benefits are offered by your organization. Employees who believe they are not fairly compensated can feel like their work is not valued by their organization. Be sure to stay on top of what the going rate is for your employees' services and ask yourself how you can remain competitive. People talk, so it should be no surprise that your employees often know what they could be making elsewhere. While money talks, don't forget nonmonetary benefits. Offering employees unique perks can also keep them satisfied and less likely to head out the door.