Employee poaching is a strategy used by many businesses to hire employees from their competing firms. Employees leave the job for a variety of reasons like job offers with higher pay, not learning new skills, not making progress in their careers, etc. Employees are valuable assets of an organization. Employers must understand their expectations from the organization stopping them to leave it and join rivaling firms.
Engagement strengthens the relationships with your most valuable employees. Here are some steps to prevent former employees from joining your competing firm.
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Retain your top-talents
Your rivalry firm always looks for the top-talents in your organization. High-performers are smart and look for new opportunities. Provide them the visibility they seek by inviting them to lead high-profile teams, give presentations on the board, and participate in management official site meetings.
Conduct webinars and classes for them to solve their queries. Instead of only giving them monetary bonuses, appreciate and reward them in front of everybody in the company. Researches have shown that employees who feel undervalued and unrecognized look for other employment.
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Give them flexibility
Your employees need time for their families, health, and some recreation. Give your employees flexibility with their schedule. It helps workers to achieve a work-life balance, boosts their morale, and reduces their stress levels. A great work-life balance strengthens the bond and commitment within the workplace, stopping them from leaving the company.
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Do Competitive Analysis
By analyzing your competition and monitoring it daily, you will be a step ahead of your rivals and lead your employees. Competitive Analysis arms you with the ability to adapt the latest trends in the industry, study competitors’ strategy to out-compete them entirely.
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Pay for Performance
Recognizing the right ones and paying them for what they deserve sends a message they won’t have to look for another job.
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Create a growing environment
A growing atmosphere is what makes people feel worth working for. Honesty, trust, and fairness play a vital role to bind your employees with the company.
- Provide them an environment where they can learn to fail without being a danger to the company.
- Provide them a thorough understanding of your company’s core values, purpose, and direction of working.
- Define their roles clearly and make sure that employees have met their expectations, if not increase the level of progress.
- Give them educational assistance so they can expand their skill-set.
- Even if your employees fail, encourage them for the next time.
- Change the ways of conducting business meetings often.
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Communicate
Good communication resolves the issues before they become large problems. Encourage collaborative discussions among the staff members. Understanding that their ideas are also taken into consideration, employees will have great respect for you and they won’t think to leave the organization.
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Good Management
Direct your employees in the right direction. Become a good coach and provide them proper and relevant feedback. Good management involves a clear structure of duties or goal setting.
Your former employees leave when their reasons for working remain unfulfilled. By taking care of their necessities and providing them a healthy workplace, they won’t leave your organization.
