First, you have to want to listen to what the other person is saying. Poor listeners, on the other hand, believe that the other person has very little to offer. Second, effective listeners try to empathize with the speaker. Ineffective listeners tend to evaluate or judge others instead of trying to see things from the other's perspective. Finally, patience is required to fully understand what the speaker is trying to communicate before you respond.
Poor listeners tend to jump to conclusions and cut others off before they've finished speaking.
Far more than just waiting for the other to pause, however, excellent listeners probe and clarify to make sure they understand the speaker's point of view. Many executives overestimate the quality of their listening skills, even when they're trying hard to listen well. As the labor pool continues to shrink, it's imperative to keep the quality employees you already have. And studies have shown that one of the best strategies for retaining your best people is to create a professional development plan with each key employee. A professional development plan is a set of goals established with the employee's input that helps chart a course for the future.