13 principles to Develop a High Performance Team, and increase employee retention.
- Don't suspect your employee loyalty, Train your employees enough, train them so much so that any body can pay them double salary of what you are giving them. Don't be afraid they won't leave you if you apply the next point mentioned here. -Richard Branson, Virgin Airlines.
- Treat them well enough so that they don't want to leave. Improve both equally the personal interaction and process interaction by applying next point mentioned here. -Richard Branson, Virgin Airlines.
- Show your people a well defined Career Path. Tell your employees what will be their next level of designation or promotion by creating organization structure. No person will do the same level of work with you for their entire life.
- There are two major problems in start-ups now a days: Seed Capital- Lack of fund. Lack of Manpower- people don't like to join start-ups seeking job and financial security. People will stay working with you when you do talent progression. Show them their growth path by creating organization structure.
- They are not gonna be over smart if you measure their performance using scoreboard. Appreciate if he performs well, give him a helping hand if he lags behind.
- Be approachable to your employees physical and metal. Don't lie bring transparent culture it makes employees feel secure, and no favoritism. Learn this from strategy of Lizzat Papad Company.
- Bring Openness, Diversity and Inclusion these are the culture of values, not the culture of valuables.
- Encourage internal promotions over Helicopter Landing. Give priority to the growth of those who are already working with you.
- Feeling of significance: reward their effort with the right value they deserve.
- Involvement is directly proportionate to commitment: Ask yourself who is the most committed Man in your team? Certainly the one whom you involved the most. If you inform employee won't work. If you involve them they will die for you.
- Help employees to win: People like to win. Offer employees the taste of success. Employees never leave the taste of success. Employer often try to take different kind of work from a single employees which gives employees the taste of failure. Hence they quit.
- Do competency mapping: Recognize the area of interest and potential of your employees. Don't ask a fish to climb a tree, both of you will get disappointment.
- Multiply the skill & energy of those working with you. Build a framework to measure and raise their skill and will every month.