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Assembling and maintaining a winning team can be one of your company's greatest assets Jason Spezza Black Jersey , and is a key factor in building a strong business with a growing bottom line. Great managers know that the ability to hire top talent is a key ingredient for success. However, building that team is only the first half of success: the second lies in keeping them together. Anyone who's watched a great employee leave for another opportunity knows that losing even one top performer can often have critical implications for a business, impacting everything from office culture and organizational effectiveness to managerial costs and profitability.

As the economy begins to turn around and more jobs become available, companies without strong retention practices are in greater danger of losing those key players to better opportunities. In fact, experts cite employee retention as one of the top workforce challenges for this year. A recent survey by Manpower reports that "84 percent of workers plan to look for a new job in 2011." According to Don Tennant of IT Business Edge, the past couple of years have taken their toll on employees. "Pent-up frustrations with cuts in pay and benefits Alexander Kerfoot Black Jersey , watching fellow employees lose their jobs, and fatigue due to working more with less will push workers to begin searching for greener pastures," he says. "At the same time, employers' star performers will be targeted by external recruiters for e unprotected and unappreciated stars will become vulnerable and open to a recruiter's pitch."'

So what can companies do to be prepared, and to protect their best and brightest from jumping ship - or worse, getting snatched away by the competition? While rewarding valued employees with a pay raise is Jake Muzzin Black Jersey , of course, a tried-and-true retention tool, companies without the ability to increase employee wages can still build strong staff loyalty and retention without spending a lot of additional money. Below is a key list of Do's and Don't's for managers looking to develop some new, improved, and cost-effective retention practices:

- DON'T spend the bulk of your time on underperforming employees. According to many HR and management experts, a large number of supervisors spend a disproportionate amount of time and attention on their least productive Tyson Barrie Black Jersey , lowest performing team members. The temptation to do so is understandable, since unproductive employees theoretically require closer supervision to ensure the job is done right. Over time, however, this can cause your stronger team members to feel underappreciated. Most managers are "so busy dealing with the problem workers that they fail to acknowledge the contributions of the people who are getting the job done," says Rick Dacri, a human resources consultant and author of the book "Uncomplicating Management." As a result John Tavares Black Jersey , these high performers will often move on to new opportunities where their contributions receive more appreciation and recognition.

- DO make a point to spend time with your strongest players - even if it seems they're doing fine on their own. It's important to avoid micromanagement, and to give your top performers the empowerment and autonomy they need to succeed. However, a self-motivated employee still needs the time and attention of a manager in order to feel like a valued part of the team. Be sure to devote plenty of time to your strongest employees: deliver constructive feedback, provide an opportunity for dialoguing and decision-making, and above all communicate a vision for future success that will drive their goal-setting and decision-making processes. As George Hermann of Right Management wisely advises, "remember that empowerment turns to abandonment if leaders aren't providing road maps for people to use in the decision process."

- DON'T threaten jobs or income. This one may seem obvious Auston Matthews Black Jersey , but after several years of a bad economy, many companies have become more laissez-faire about sending bleak messages - even subtle ones - to employees. Even if economic prospects look bleak for your business and layoffs appear to be looming on the horizon, don't provide a doom-and-gloom forecast to your team. As HR expert Susan Heathfield points out, doing so will only make staff members nervous and create a tense, unproductive environment. "No matter how you phrase the information," she says Mitchell Marner Black Jersey , "even if you're absolutely correct, your best staff members will update their resumes." And in tough times, those star players are the ones you'll need most.

- DO take the time to really know your employees. A good manager sees his or her employees' current value, but a great one assesses their future value as well. Oftentimes an employee has additional skills and assets that aren't being utilized in their current position. Get to know your team members' individual strengths and weaknesses, their unique talents, and their past experiences. Doing so will help you tap into their full potential and set them - and your company - up for increased success. Failing to do so Authentic Morgan Rielly Jersey , on the other hand, will lead to employees who feel ingnored and unheard. Heathfield relays the following story as an example: "In a small company, a manager pursued a new marketing plan and logo with the help of external consultants. An internal sales rep, with seven years of ad agency and logo development experience, repeatedly offered to help. His offer was ignored and he citd this as one reason why he quit his job."