Companies attach great importance to employee retention, because employee replacement, especially productive ones, costs time and money. Leaving talented employees from your company can also pressure existing employees to take on additional work while those roles can be filled. With this in mind, retaining your top employees should be a priority. Here are eight tips on how to keep your best employees.

Pay above average wage 
One of the most obvious ways to keep your best employees is to offer them above-average wages and generous benefits. This can retain employees and encourage them to stick only to wages and benefits. They can also offer special loyalty bonuses to encourage you to stay with the company.

“A well-paid and engaged culture will increase employees’ willingness to stay on the job long-term,” wrote author and digital consultant John Boynot of Inc. Learning New Duty. You will also spend less time and money searching for new employees and interviews. The hiring process can be costly, so avoiding it as much as possible can be a positive thing. ”

Let employees have their opinion
While it may seem small, creating a culture where employees can speak freely – within the bounds of common sense – can engage employees and keep them going. Many employees may not want to speak for fear of retaliation. So it’s important to make sure employees feel comfortable saying the things they want to change.

“A number of studies have found that when companies are free to voice their concerns, they experience higher retention and better performance,” write James R. Deurt and Ethan Burris in the Harvard Business Review.

Show gratitude and respect
In addition to paying, make sure you regularly show your best employees that you value them. This can include public acknowledgment of their achievements, celebrating birthdays, giving awards, and providing positive support.

“Employee evaluations fail sometimes, but they are an important part of any business loyalty strategy,” said Kristen Wessel, VP of PR and Digital Marketing at ChicExecs. “Show your employees that they care about them, whether they’re small as a handwritten card or big as a big bonus. Employees need to know that you have turned their back on them. “