Tips for Managers to Keep Employees as Economy Improves

New York, NY (PRESS RELEASE – September 16, 2009) – Managers need to think about how to keep their star performers engaged right now so that they do not look elsewhere once the economic climate improves. Lori Dernavich, of Lori Dernavich LLC, is a trusted business advisor who works with C-level executives, HR directors and boards to provide essential workplace performance solutions that lead to accountability, improved communications and increased profitability.

“Once the economy turns around, disgruntled employees will certainly begin to consider a job change,” said Dernavich. “The key to retaining star employees is to keep the lines of communication open with them to gain an understanding of what they’re going through and to show them that you acknowledge their hard work. While managers should make sure that these employees are challenged, they should also be cognizant of their work load, particularly if there have been previous lay-offs and these employees are doing the jobs of others in addition to their own work.”

Dernavich also suggests that now is a good time to have weekly check-ins, not only to verify what is on employees’ plates, but also to ask important questions regarding their satisfaction with their position and future goals. Managers should find out where their key employees see themselves within the organization once hiring resumes.

Performance and productivity increases when employees trust their employers, so managers should have an action plan for lean times and share that plan with employees. “Management should openly discuss the state of the company with employees,” said Dernavich. “Employees have a vested interest in how the company is doing. If they are not hearing anything from management, they will make it up themselves – and rumors are usually worse than the truth.”

Dernavich offers quick takeaway tips for managers looking to keep star performers engaged:

1. Share the company’s long and short term vision, giving employees a roadmap to recovery.
2. Be truthful with employees about how the economy is affecting the company.
3. Seek employees’ input and opinions and give them ownership of their work. Be available, but do not micro-manage.
4. Make sure employees have all of the information, equipment, and resources to get their work done.
5. Praise employees frequently and sincerely. If you need to deliver negative feedback, keep it about the facts and discuss how to do things differently in the future.
6. Don’t assume you know the career paths your employees desire. Work with them to create a plan that will encourage their development as it fits into company goals.
7. Create rewards that mean something to employees. Talk to them to find out what they really value: Would they prefer an extra day off? a gift certificate? the opportunity to take a class?
8. Encourage team interaction; the more positive relationships employees have at work, the less likely they are to leave.
9. Provide opportunities to learn and grow.
10. Provide ongoing feedback and be sure to follow through on promises.

About Lori Dernavich, LLC

A highly sought after and trusted business advisor, Lori Dernavich helps businesses and their employees become more successful by equipping them with the skills needed to improve communication and accountability. Her unique expertise and objective voice make companies more profitable by delivering customized solutions and the tools to implement strategies for ongoing employee performance success. Lori Dernavich, LLC was founded in 2002.

1 Comment ▼

Anita Campbell Anita Campbell is the Founder, CEO and Publisher of Small Business Trends and has been following trends in small businesses since 2003. She is the owner of BizSugar, a social media site for small businesses.

One Reaction
  1. A Star Manager is what it takes to keep a Star Employee. The best are hard to come by these days, so it’s important to do all you can to retain them no matter how clumpy the Economy gets.
    Recognition is the key to employee morale when they can feel that they are contributing to the success of the company.

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