How to retain your best employees

The rules of employee retention have changed. No longer can loyalty be bought with big salaries, hefty bonuses, and rich benefits packages. Today it takes intangible, non-monetary rewards to create an atmosphere that makes your people feel valued, respected, and involved. It takes a whole new way of thinking. This is the thirteenth edition of a 22-week special on ideas you could implement to keep those best employees:

13) Pass out a "Blooper" Award
Obviously, mistakes can hurt your business, but so can playing it too safe. If your employees aren't taking risks and being creative, your business will soon be stagnant-and so will your workforce.

Employees want to feel trusted, empowered, and responsible. They want to know they have the leeway to search for new solutions to lingering business problems, and they want assurances from you that an occasional mistake won't wipe out months of hard work and good results.

One effective way to communicate this message is to present an award to the employee who commits the "biggest blooper" of the month. Here's how this might work:

Craig, one of your sales reps, books his own flight and hotel reservations instead of going through the company's travel coordinator, and it cost the company an extra $350. At the end of the month, you gather the troops together for a lighthearted awards ceremony in which you recap Craig's blunder and present him with the award. Craig's coworkers give him some good-natured ribbing. The blooper award sits prominently on his desk until he has the opportunity to present it personally to next month's "winner".

What has happened here? For one thing, you've found a new way to add a little more fun to the office. But, you've also accomplished something more significant. For starters, you can be sure your staff will think twice before making their own travel arrangements. And, more importantly, you've sent a clear message to employees that they have your permission to fail from time to time, the mistakes are to be avoided, of course, but they are also to be tolerated.

Also, make sure to give yourself the award at least once. After all you make mistakes, too! You're all in this thing together!