Higher retention rates are possible when businesses offer people what they want in their jobs:
Work that keeps them interested. Too much change might drive them crazy, but so can too much routine. Learn the best mix of change and routine.
Tactful discipline. Selecting the right time and place for reprimands communicates respect. Nobody likes to be embarrassed in front of colleagues at work.
Appreciation. Work done well deserves praise. People working hard on long-term projects should receive more praise than those working on brief tasks.
Good pay. Good pay, not great pay, will retain valued employees when appreciation, tactful discipline, and interesting work are intact. By itself, pay will never compensate for disrespect.
Positive environment. Keeping stress low creates a positive environment. Let people structure their personal environment at work in a way that makes them more efficient and effective.
Promotion possibility. People don't necessarily want to be promoted, but they like to know the options. People who decline promotion should be complimented for knowing what they like best.
Good working conditions. Organizing space is more important than having expensive space. Pay attention to sounds, sights, and smells.
Feeling "in" on things. Few people like surprises that involve matters of employment and economics.
Personal loyalty to workers. Mergers and acquisitions have people nervous about their security. People want assurances that the company will do everything possible to utilize their skills.
Help with personal problems. Assistance with health, emotional, financial, and family problems are now important employee benefits. From time off to help aging parents, to paternity leaves for newborns, businesses with a "heart" will have the best retention rates.
Having a good time. People also want to laugh at work. One company takes "humor breaks" every afternoon to tell jokes to each other. Laughing together builds teamwork and reduces stress. We spend so much of our time at work, why not enjoy it?
Maximizing personal performance starts with your people. Treat them right and the result will be higher quality, productivity, and profitability.