Providing Career Growth: A Key to Employee Retention

Smart credit managers know that top performers are their firms’ strongest
assets. These dedicated staff members demonstrate a level of drive and
commitment that makes them valued by both supervisors and colleagues.

As a manager, it’s your responsibility to keep these workplace stars enthused
and engaged in their work. After all, if the professional challenges dry up,
they may decide to leave your company and take their talents elsewhere. This
makes it important for you to offer constant career growth and advancement
opportunities. Here are some tips for creating a work environment that will make
employees want to stay:

  • Provide new challenges. Top-performing employees enjoy
    constantly improving their arsenal of professional skills. Keep staff engaged by
    avoiding micromanaging and allowing an appropriate degree of autonomy. Clearly
    explain project objectives, and then step back and let staff members use their
    creativity to accomplish their work. Giving employees control over their
    projects shows that you trust them to make good decisions. Additionally, they’ll
    gain valuable insights as they flex their problem-solving muscles, preparing
    them for greater responsibility down the road.
  • Promote internally. As often as you can, promote from
    within. This not only shows staff that you are committed to their professional
    development, it also reduces training time and costs associated with hiring
    outside candidates. Internal promotion can boost morale and productivity
    throughout your firm, as other employees see that advancement is possible.
  • Understand employee goals. Cultivate an open atmosphere so
    that employees feel comfortable talking with you about their aspirations. Work
    together to plot a career map outlining their growth potential within your firm.
    This is particularly important for high-potential staff — just because you have
    a particular candidate in mind for a promotion does not mean he or she has the
    same goals in mind. While performance reviews are a natural forum for these
    discussions, feedback from more frequent check-ins can help you identify new
    ways to challenge your staff, even if immediate promotion is not possible. For
    instance, the chance to work on special projects or attend seminars may make
    employees feel supported and valued. A formal mentoring program may provide just
    the support a particular worker needs.

Source: Robert Half Finance and Accounting and Accountemps

Promote career growth by sending your staff to the 20th Annual NACM Western Region Credit Conference.

Leave a Reply

Your email address will not be published. Required fields are marked *