: How Managers Can Help Retain Their Best Employees by: Susan Cullen A major problem for employers today is attracting the best talent, and then retaining key employees. Research shows that the key ingredient for retention

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How Managers Can Help Retain Their Best Employees

by: Susan Cullen

A major problem for employers today is attracting the best talent, and then retaining key employees. Research shows that the key ingredient for retention lies within the managerâ€™s ability to understand what employees really want.
The survey results below first came out in 1946 in Foreman Fact, from the Labor Relations Institute of NY and was produced again by Lawrence Lindahl in Personnel magazine in 1949. This study has since been replicated with similar results by Ken Kovach (1980); Valerie Wilson, Achievers International (1988); Bob Nelson, Blanchard Training & Development (1991); and Sheryl & Don Grimme, GHR Training Solutions (1997-2001).
Pay particular interest to the top three things managers thought employees want from their jobs, and then look at what employees said they REALLY want:
WHAT MANAGERS THINK EMPLOYEES WANT, starting with the most important:

Good wages
Job Security
Promotion and growth opportunities
Good working conditions
Interesting work
Personal loyalty to workers
Tactful discipline
Full appreciation for work done
Sympathetic understanding of personal problems
Feeling â€œinâ€ on things

WHAT EMPLOYEES SAY THEY WANT, starting with the most important:

Full appreciation for work done
Feeling â€œinâ€ on things
Sympathetic understanding of personal problems
Job security
Good wages
Interesting work
Promotion and growth opportunities
Personal loyalty to workers
Good working conditions
Tactful discipline

You can see there is quite a discrepancy. This indicates the value of the â€œintangible rewardsâ€ of appreciation, involvement and understanding. An important benefit is that the top 3 things employees want are all influenced by the relationship with their direct manager or supervisor.
Show your employees you truly value them, and never underestimate how important you are in maintaining a strong workforce and retaining your best talent!