When you find an “A” player, hire an “A” player. That’s the employee retention philosophy we use at On The Mark Strategies and it’s helped us grow our business significantly.
But for many credit unions and community banks the question is also: how do you keep “A” players once you get them?
Here are seven reasons employees will stay with you forever, saving you thousands in repeated hiring costs.
1. Vision
Your vision tells employees where you’re taking them. It’s the answer to the question, “Why do we exist?” It’s the world you and your team are building together. If you’re the CEO, casting this kind of employee-keeping vision is your number one job.
2. Plan
Your plan makes your vision tangible. It’s the answer to the question, “How are we going to get there?” Your best employees will thrive under a clear strategic plan because it tells them the vision is real and not a fantasy. Without a plan, those “A” players will likely feel aimless and take their talents elsewhere.
3. Ownership
It’s one thing to understand a vision. It’s a whole other thing to understand how you as an individual play a role in that vision. During leadership training, we teach managers to think like owners for this reason. To stick with you, employees must know how they specifically are helping move the vision and plan forward.
4. Story
Stories bring your credit union or community bank to life. They take the values you have painted on the break room and make them real. When employees feel like they are part of a story—or better yet, that they are a critical part of someone else’s story—they will not want to leave. Share success stories regularly with your team.
5. Clarity
The classic “who’s on first” comedy skit is an unfortunate reality for many organizations. Even if you know where you’re going and how you’re going to get there, your employees need to know who is exactly responsible for what pieces of that puzzle. This clarity eliminates confusion and helps employees achieve quick wins they can feel good about.
6. Forward Motion
Does every employee in your organization have an opportunity to grow? Is there room to move up? And if not, are there other ways to grow through additional responsibilities, professional development or new leadership roles? Your best employees do not need a raise or a promotion—they just need to always be moving forward.
7. Intolerance (of behavior that doesn’t match the vision)
It only takes one gossip, one excuse maker, one person cutting corners to tank your whole organization. Your best employees won’t tolerate this kind of behavior. You shouldn’t either.
To make a specific employee retention plan for keeping your best employees, email mark@markarnold.com today about our new organizational alignment services.
