Credit @ work.

Dear Andy,

My company is tightening its belt, and I'm concerned about what effect this will have on my ability to keep my best workers. What are some tips to help me retain my top performers?

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Managing a credit department is never easy, but when your employer adopts a more cautious fiscal stance, it puts additional pressure on managers to retain top performers since staff may become concerned about the potential for layoffs or stagnant pay in these situations. More often than not, however, employees leave for reasons unrelated to job security or pay. These causes include unhappiness or frustration with the work environment, such as unfulfilling jobs or frequent clashes with an immediate supervisor.

It's important to reassure your staff in times of budget cuts, but don't forget to also be on the lookout for signs of impending turnover that stem from the way you manage your team. Here are some tips to help you retain your best employees:

Don't let recognition fall by the wayside. Even if budgets are tight, don't put a moratorium on recognizing employees for their contributions. Managers can stilt offer Low- or no-cost incentives that make an impact. For instance, create a symbolic award--something that is humorous or holds special meaning for your team. Pass the award around to take turns recognizing staff members for exceptional work. Pizza parties and public praise are other sure ways to show appreciation for a job well done.

Keep assignments fresh. High performers thrive on new challenges. Monitor their satisfaction levels, and seek ways to offer them greater work variety or fresh challenges. Maybe you can assign them new responsibilities, possibly ...