A short-term fix for making employees stay is to pay the employees well. This is not a long-term strategy, as having people in a company for purely financial reasons wouldn't be a good idea. But if employees aren't paid well, great performers will find it hard to stay.

Paying Employees Exceedingly Well

Providing interesting or a variety of projects keeps talented employees on board.Innovative projects eventually reduce the need for old software/old processes that are normally active for decades as no one is capable or interested in providing a more efficient way to work.

Interesting Projects

<ul><li>Providing a clear career path with regular opportunities to grow and develop, makes the employees commit themselves more to the organization.</li><li>Organizations that are constantly hiring talent from outside (as opposed to developing internal talent) are leaving doors open for existing employees to leave.</li></ul>

Career Progression

<ul><li>Respecting employees, and recognizing their good work goes a long way in retaining them.</li><li>Employees that are rewarded, respected and recognized develop job satisfaction in their organization.</li><li>Subtle things including a kind action or an appreciation also form a positive mindset in the employee.</li></ul>

Respect and Recognition

Employees often keep working in organizations that they are unhappy with. Reasons include financial pressure, like student loans or a mortgage.

Inertia

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Career Progression If you want to attract/retain people who aspire to be leaders in their field, there must be opportunities for them to develop and exercise that leadership within the organization. Couple this with a management team that seeks to train its employees and actively supports their development, and employees are much more likely to commit to the organization.
If there is no room for career progression, the employees that you claim to value the most will over time leave the organization. Another symptom of this kind of organization is a proclivity for hiring externally when there is an adequate supply of ambitious internal candidates that are looking for the opportunity to impress and grow, thus leading us to:
Respect and Recognition All of us want to be in an organization where we are respected and recognized. On an overly simplistic level, paying people well is an indicator of recognition, but it isn't the heart of the matter. Consider the above remarks about career progression; can we really say that we recognize an employee's value if we make no positive contributions towards their growth? Much less, can we really say we respect them while simultaneously recruiting externally for positions and dismissing potential internal candidates?
Respect can also be reflected in simple things. If there are common areas, then the responsibility for keeping those areas clean and tidy is a common responsibility. Management washing their own dishes, rather than leaving them in the sink for the employees to deal with is another subtle sign of respect.
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I witnessed my COO tidying up a shared area after a pizza lunch and I also remember a VP fetching me a coffee when he knew I was running late for a meeting with a client.
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Neither of these acts involved a major effort on the part of the people involved, but both had a major and positive impact.
There are, of course, many other reasons why people stay in organizations that they may be unhappy with. The value of interpersonal relationships cannot be understated, people will tend to put up with a lot of crap if they are surrounded by a group of friends - a secret the military has known since time immemorial. Likewise practical financial pressures such as paying off student loans or paying down a mortgage can impact personal job mobility and also contribute to employee inertia.
<figure>It is only a matter of time </figure> However, if inertia is the only reason an employee remains in their current role, it is only a matter of time before that employee will overcome that inertia and move on to a perceived better opportunity.
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Career Progression If you want to attract/retain people who aspire to be leaders in their field, there must be opportunities for them to develop and exercise that leadership within the organization. Couple this with a management team that seeks to train its employees and actively supports their development, and employees are much more likely to commit to the organization.

Things That Make Employees Stay

Paying Employees Exceedingly Well

Interesting Projects

Career Progression

Respect and Recognition

Inertia

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