7 Ways to Reward Your Stars

Retaining your star players is key to success.  There are several ways that you can reward them so that they stay with you, and remain happy in their work.  Here’s a list:

  • Money – this is the one we think of first, but it’s not the only one by any means
  • Recognition – of a job well done.  Praise them privately and in public.  Give them awards.
  • Personal Growth – This includes conferences, external coaching, funded education opportunities and book allowances.
  • Status – Think titles, nicer offices and good parking spots
  • Autonomy – Let them make their own decisions (if they’re not already)
  • Access – Let your stars have a taste of the inner circle. Invite them to part of a management retreat.  Ask them for their opinion on big decisions.
  • Personal Attention – I’ve interviewed several high-level stars over the past few months that are leaving because they feel ignored by top management.

Right now, someone is plotting to steal your stars.  Maybe it’s a customer, a supplier, a competitor, someone they know socially, or someone they met at a trade show.  What’s your to hold them when they are tempted with a better offer?

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