How do you retain your best employee without increasing your salaries and benefit budget?

Without increasing their salary you WONT.  Financial side it is important nowadays, so if you want the best you need to pay...

If you dont want to increase in the salary then you have to offer some facilities, and some kind of supports at least.

Best employees need to be benifited with salary raise along with benefits else you cannot retain them. This is competative era.

Determining what their key motivations/drivers are.  If it purely on a commercial level, then this may prove to be more of a negotiation with the individual.  Investigate whether the individual is happy where they work or live, who they work with, are there any areas within their career that company training may provide further assstance?

It seems to be difficult but by applying these it can be make better

• ·         Improving of skill through training sessions
• ·         Motivate for better future like saying you have not socked full knowledge from seniors
• ·         Promote the designation
• ·         Set goals to achieve
• ·         Equal employment opportunity

And so on….

That depends on his/her current fainancial status. If his/her benefits are comaparatively equal to the market value, I will work with HR to specify his/her non-fainantial needs and wants and plan to provide some of those needs and wants. Studies proved that money is not the highest motivator for people, Some people are motivated by challenging their skills, developing thier skills, relocation, a higher post, etc..

If his/her benefits and comparatively lower than the market value, I think it will be better for all to help him/her to get a better opportunity. I saw that before and it did empower the relationship with future positive results.

moral support , motivation , mentally calm , friendly supportive , and some time collaborations with family matters is advantage .

Provide them feedback and keep them abreast of developments in the company. Keep them involved.

If you need to Retain your best employee then kindly you would have to make beileve him / her about  the  working enviorment , benfits of being in long term with the company & acheving the goal of the  company with future  compensation benefits for him/her for staying in crucial times with the organisation.