Employee retention and being that exceptional employer that attracts the best talent is not solely about your ability to pay the highest salary or offer the best benefits. After all, many highly paid employees with great benefits continue to seek other jobs. Why? Because there’s more to professional satisfaction than simply working for the highest bidder. Below are some key factors that employers should consider in their efforts to attract and maintain the best employees.

Empower Employees: Employees need to know that they are making a difference in the service they provide and the good reputation you enjoy. Hire competent employees and give them the tools and level of autonomy needed to do their job well.

Acknowledging a Job Well Done: Recognize and acknowledge an exceptional deed and the person that goes that extra mile. This so called “pat on the back” is no laughing matter as it weighs heavily in retaining good employees and reminding them of their value.

Develop Good Employees: Develop good employees by utilizing career tracking so that they stay challenged and continue to feel that they are making a difference. Also, in smaller companies where higher positions are not always available, consider training in other departments to offer another perspective or level of expertise.

Think About Your Competition: There is often little difference between the four walls you are renting and those down the road that are similarly being rented at a comparable rate. The difference lies in the people who are leasing, maintaining, and managing your property. When employees function harmoniously to do their jobs well because you are empowering them to do so, and acknowledging and appreciating them, it benefits everyone. Establishing this type of reputation is not only valuable to your company and the employees you wish to retain, but you are also sending a positive industry message that will attract other talented professionals.

All companies can offer the satisfaction we seek in doing our jobs well. Employers must take the time to recognize the real value of their employees who provide the highest levels of service that our tenants enjoy. These hardworking, dedicated, and diligent employees make up the team that you trust to manage multi-million dollar assets and as such, your investment in them is surely worthwhile.