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An important factor in retaining good employees is your performance management skills as an employer and your ability to recognise and reward good performances within the workplace.

Performance management involves you setting goals and outcomes for both the business as a whole and for individual sectors or employees. By setting performance benchmarks, employees may become more motivated as they aim to meet each objective. Generally, employees who have something to work towards are more likely to put in extra effort to meet targets.

After setting your performance objectives, it is important to gauge whether or not your business and your employees are reaching the goals previously set out. This can be achieved through performance audits and interviews with managers and employees to determine if they believe the objectives are realistic and if they are being met to a sufficient standard.

When you have determined the performance level of the business and your employees, it is a good idea to offer some form of recognition as a way of thanking your employees for their commitment to the business. There is detailed information on performance management and recognition on the Australian Public Service Commission website.

Performance recognition can come in a variety of forms and is part of being an employer of choice. Depending on the type of business and the level of performance you may provide remuneration rewards, award presentations, social functions or promotion opportunities for staff. Further opportunities for training and development can also be offered by an employer as a form of performance recognition. Information on training packages can be accessed on the Training website.

These measures are likely to make it easier for you as an employer to retain your best employees. Staff who feel that they are recognised for their hard work and commitment to reaching performance targets will generally be more likely to remain with your business than those who feel they are just a number.