I had the privilege recently of participating in a panel for Mass Mutual as they presented the FutureSmart program in OKC.  During the panel, I was asked: “According to MassMutual’s research study, keeping key employees loyal is the most common planning concern facing business owners. What are the recommended steps employers need to take to ensure they can attract and retain their top talent?”  Here is what I told the group:

Have a vision and share that vision.  Crafting and communicating a vision that is bigger than me or what any one person can accomplish is attractive.  I get to tell that story often.  It is even one of my favorite parts of the job.  I work very hard to create documents, pictures and other visual representations of what the vision is.  This helps me to define it for others, getting it out of my head onto paper.

I also try to have a vision for the person.  Use my same gift as a visionary for the business to dream with them about what they might be able to accomplish.  What might be their next developmental step?  We have even added this to our formal review process.  Our reviews contain a project goal for them to accomplish pushing the business to get better. We also incorporate a personal development goal, so they become better.  The employee wants a raise, and I want to give them one.  At the same time, I want to pay more money for better employees.  As they grow personally, they become better, more valuable employees.

Something I did not say but wish I had remembered to say: I must make sure my leadership team keeps growing as leaders.  In reality, most people leave bad bosses.  If I am growing as a leader and my leadership team is doing the same, then we can hopefully prevent our top talent from leaving due to having a bad boss.