Here is a brief excerpt from an article by Linda Descano, published by LinkedIn. To read the complete article and check out others, please click here.

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A few weeks ago, I shared insights on hiring as part of LinkedIn’s #HowIHire series, which prompted a number of commenters, including @TheRedBrand, to ask about what it actually takes to retain the people you hire. And so, as I often do on matters of talent, I turned to career expert Stacy Lauren Musi, a Managing Director at executive search firm,Chadick Ellig, Inc., for her insights on this topic.

The key to retaining employees is to understand what motivates them, says Stacy. And, the motivations and drivers of engagement are not the same for everybody, and employees’ priorities may change at different points in a career. “For example, some people are very driven by monetary rewards,” she explained, “so providing performance-based financial incentives is an obvious way to retain employees who are focused on the amount of their paycheck or bonus.”

So what do you do when an employee is not primarily motivated by money, or when the company does not have additional money to spend as a retention device? Use recognition, says Stacy. “Many employees – particularly many women – are motivated by recognition. A token of appreciation, such as a dinner or tickets to a show, go a long way to say ‘thank you’ for a job well done. And don’t underestimate the power of non-monetary rewards, such as extra time off or a company award. Even bestowing compliments in front of colleagues can go a long way.”

Some people need to feel that they are being challenged and progressing their career. When people are focused on growth, Stacy recommends making it a priority to provide them with developmental opportunities, such as sending them for training and professional education and/or providing them with an internal mentor. If a promotion is not readily available, consider putting them on a special project or task force, or give them an opportunity to move laterally as a way of broadening their scope.

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To read the complete article, please click here.

Linda Descano is Managing Director and Head of Content & Social at Citi. To read her other articles, please click here.