Use Key Strategies to Retain Top Talent
Now's the time to elevate the employee experience
Now more than ever, it’s important for association leaders and managers to place emphasis on elevating the employee experience by ensuring frequent opportunities for performance and development feedback, role clarity, and meaningful and equitable reward and recognition strategies.
After all, employee engagement is a key factor in the retention of high-performing employees. As Gallup highlights, managers are responsible for 70 percent of team engagement. In thinking of your association’s finances, it’s simply too costly for your association to risk the attrition of key talent. According to Gallup, the cost of replacing an individual employee can range from one half to two times the employee’s annual salary.
An agile, easy to understand, and transparent compensation program is the foundation in ensuring that your pay practices, such as pay for performance, are not only grounded in competitiveness with the external market but also internally equitable.
Please select this link to read the complete article from ASAE's Center for Association Leadership.