During his exit interview, Ian was asked his reasons for leaving. The human resources manager speculated that Ian didn't feel amply rewarded monetarily in his former position. I wanted to know that what I was doing mattered to him and to our department. Unfortunately, I never received any real encouragement or support. Money alone will not guarantee that talented employees stay.
People appreciate recognition for work well done.
Find creative ways to show your appreciation and you will increase the odds of keeping outstanding performers. More freedom and flexibility, frequent encouragement, words of praise, small mementos and awards are just some ways to express your gratitude for an employee's hard work. Job qualities, such as challenging and meaningful work, along with growth opportunities, are examples of things that matter most to today's workers. When these are missing, talented, high-performers may leave. Consider ways to create more of these types of intrinsic rewards.