Motivating And Retaining Top Talent: Reward Is Not Enough &Nbsp; The Quality Of Work Is More Critical.

Recently, I read a report on how to identify and motivate and retain top talent in the current economic climate. The report says that focusing on bonus incentives is no longer a viable or appropriate strategy.

Previous studies have shown that the impact of income and welfare on employees' job satisfaction and participation is 2%, while the impact of work quality and workplace support is 70%..

From my point of view, from the perspective of human resources management, those non bonus incentives should include many aspects.

For example, help employees create a sense of mission, let employees know how they relate to the "overall" and "overall" situation of an enterprise, know that they are an indispensable part and what role they play in the organization.

For example, to provide meaningful work for employees, help them do what they are good at, and help them make significant contributions, is also critical for staff retention.

In addition, non bonus incentives include encouraging employees to brainstorm and participate in company decisions.

This enables them to have a sense of control in uncertain times and shows the importance of their opinions and viewpoints, which is also conducive to improving the acceptance of business decisions.

At the same time, we must not underestimate the importance of trust and communication. Trust can be established when leaders improve their credibility and prove their reliability by ensuring that behavior is consistent with the goals and values of enterprises.

The best management agencies can sensitively capture the inner world of employees and prevent top-notch talents from going downhill.

The following core actions generalize this process:

Provide clear strategic direction and speed of development - use sincere communication to ensure that your employees know their strengths and give them confidence. Better leaders can make employees fully aware of themselves and provide them with clear strategic direction and speed of development.

Inculcate the most motivated and focused employees in the company with trust and confidence. These people often need a clear direction and provide a confidence aura for other employees to play an example.

Identify the most fundamental problem for employees: let everyone know what they are most concerned about, what they most expect to achieve, how they should behave and what goals they need to achieve.

Let each employee play a role that matches his skills and ambitions - giving employees enough time, space and support to enable them to succeed.

Continue to invest in research and development - even in recession, innovation is still very important.

In the current economic situation, what companies need most is clear thinking, employee participation, cool head and creativity, rather than cutting to skeletons.

Do not take too drastic measures too quickly, such as drastic pay cuts and layoffs in the company.

Nothing can send a signal to employees like frozen salaries, which may be gradually declining.

A comprehensive pay freeze seems to tell employees that no matter how loyal they are, they are powerless to fight against the worldwide economic crisis.

Companies that maintain flexible pay and benefits are more likely to maintain morale and retain the best employees.

First of all, by adjusting the reward way to make it more closely related to the work effect, the enterprise can better control the cost and give the employees more opportunities to make promises and loyalty to the enterprise so that they can make a difference.

It focuses on providing a cost effective structure of rewards, motivating employees and creating a better competitive environment to achieve healthy competition.

Secondly, we should enhance employee morale.

Even a smaller amount of cost cutting can have a big impact on the profitability of the business, but how can you guarantee that doing so will not weaken employee morale?

To prevent similar incidents, we should do the following:

Be frank and frank with all staff to help employees understand that their wages and benefits will decrease and understand what they most need, which will help you find that you can adjust some welfare that you think is unnecessary but for some employees.

Research shows that if employees can clearly understand what they need most, they will be happy to enjoy less expensive benefits.

Strive to achieve balanced interests and joint efforts to understand the "least pay, the greatest return" point of view.

Checking the organizational structure -- a rigorous examination of the organizational structure will help you achieve a targeted reduction in the cost of the enterprise while avoiding a direct impact on the entire business of the company.

Keep the best employees - usually the best employees will leave first in the economic downturn.

Focus on your top talents. Do not cut back on their training and development opportunities to keep them sharp and loyal.

In addition, employees need to hear feedback regularly so that they can know when they are going to orbit and let them know when they have achieved the key milestone.

The more people feel that you value them, not yourself, the more they trust you.