If filling a job was as easy as changing a light bulb, there would be no need to discuss employee-retention tactics.

In reality, it is difficult to find good workers who mesh well with your company culture. Add to that a need for a skilled worker, and the task of filling that job gets even harder. That is why it is so important to hold on to the good ones, lest they go knocking on your competitor’s door looking for work and due appreciation.

Before you jump to the conclusion that money is the only way to hold on to great employees, realize that in many cases employees aren’t always after a bigger paycheck. In fact, a pat on the back for a job well done goes a long way.

And if money is the issue, understand that replacing a stellar worker will cost a heck of a lot more than simply agreeing that the employee deserves a raise and giving it to them.

According to an article on Expert Business Source, replacing an employee is not only time consuming, but expensive, costing you between 50% to 100% of that positions’ annual salary.

The Expert Business Source offers 8 ways to develop and keep key employees:

1.   Training.
Design a program that reinforces its lessons even after the initial training sessions are complete. The goal is lasting change.

2.   Self-Directed Learning.
Each employee will have their own learning style. Offer a range of options, including one that allows employees to create their own personal development plan, that include clear goals.

3.   Coaching and Mentoring.
Pairing up employees for training is not only a great way to build working relationships among your team, but it allows knowledge to be transferred between employees. Not everything can be learned in a class or textbook, and some of the most critical pieces of information for your business may be locked inside the head of a single employee.

4.   Employee Promotion.
Promoting someone to a position of greater responsibility is a traditional way of rewarding good performance, developing employee skills and retaining valued employees.

5.   Job Enrichment.
Job enrichment increases the employee’s authority or responsibility within their current position. Examples include committee work, special assignments or serving on cross-functional teams. This approach increases interest and motivation by allowing employees to try new skills, build new relationships and explore new areas of specialization.

6.   Job Rotation and Cross-Training.
Job rotation moves an employee through one or more different positions. The rotation can last several hours, several months or even a year or two. Cross-training is a specific type of job rotation where an employee learns the skills of a different position. These approaches can effectively add diversity and interest, prepare individuals for promotion, rejuvenate work units and improve communication.

7.   Lateral Moves.
In a lateral move, an employee moves to a different position with similar status, pay and responsibility. A lateral move may offer new challenges or encourage the development of different skills for an employee who may not necessarily want increased responsibility. This approach increases flexibility and communication among work units and, in small businesses with few opportunities for advancement, helps to retain valuable employees who might otherwise leave.

8.   Job aids.
Job aids include checklists, tip sheets, wallet cards, posters, pictures, code lists, flow charts and diagrams—anything that offers on-the-spot practical help or reminders. Job aids can reduce the amount of information employees need to recall by providing easily accessible facts. Well-designed job aids are concise, written in plain language and make good use of white space and graphics for easy interpretation.