Hold on to your Best People with these quick strategies
for Startup & Small-Business.
from Linked IN 01 Oct 14 enhanced by Peter/CXO Wiz4biz
Employee Retention is a tricky thing for Startups & Small-Business Owners. After all, there’s always someone out there with more incentives. So how can you get your “best” Employees to stay put? Read on for some quick tips on building a workplace that’s happy, healthy, helpful & hopeful, for everyone involved.
Empowerment. A growing body of knowledge suggests freedom is the key to morale. People want to feel appreciated & trusted, + nobody likes to be micro-managed. One easy way to loosen the reins is to allow your people some time to work on their own “passion projects” (ie, initiatives of an intensely personal interest). Another is to give them more leeway in their time management: flex time, a results-oriented work environment or tele-commuting.
Ownership. A good way to encourage happiness is to have your employees take ownership of the brand with you. Whether this means profit-sharing or simply giving credit & glory where they’re due, the point is the same: employees want to feel like they’re in the same ship with you. Few forces are more powerful than a shared sense of destiny, so consider implementing group bonuses pegged to performance milestones – that you set.
Healthy Workplace. Employee retention also requires a healthy workplace, making your employees’ day-to-day experience comfortable & enjoyable. Think natural lighting, ergonomic workstations and well-ventilated air. Many businesses resist making changes like these because of the expense, but investing in a healthier workplace is investing in employee retention.
Health Care. A healthy workplace also means providing quality health care. Providing employee health insurance is a proven boon to your bottom line: just under half of small businesses recently reported their companies would be more productive, if they provided health care across the board.
Feedback. Employees are also more likely to stick around if they feel they’re being heard. Take a look at how feedback is handled in your business. Are comments & suggestions offered with respect? Do your people typically end the day feeling belittled, or empowered? Have you deployed a system, that handles notes, comments & open issues in a clear way? Many employees would gladly take a pay cut to work somewhere they feel appreciated, rather than earning a few extra dollars, but being treated poorly.
Mentorship. Employees work harder & stay longer, if they believe there’s a credible chance for advancement down the line. You can help foster an environment where productivity thrives, by reaching out to talented people and offering your skills, wisdom & advice. Even distributing tickets to a seminar or dinner can mean a lot to the up-and-comers on your team. It will make them feel “valued”.
Keep the Best People. Your employees are your business, and losing even one, key employee can deeply upset the balance. Strive to create a workplace that places a premium on the other 4H — happy, healthy, helpful & hopeful— and you should be able to hold on to the “cream of the crop” as long as your business grows.
Comments: Is there anything else to do, Retain Employees?