No business, grand or small, can afford to lose its most talented employees. However, an established company with plenty of capital to spend on talent acquisition and training does have a significant advantage over its smaller counterparts. If you’re a small business owner, employee retention should be your no.1 priority – not just for the financial reasons, but for the future of your brand as a whole.
After all, the future of your company rests in the hands of your team members, so there is a very real need to bring top talent to your business, and nurture them to become your loyal brand members. These members will push your brand forward as a whole and help you reach your long-term goals efficiently and effectively. With all of that in mind, here’s how you can minimize employee turnover and keep the best ones at your side.
It all starts with your company’s culture
In a sea of faceless brands that offer nothing more than a mundane, traditional work environment, you want to be the company that inspires and motivates its employees to be productive, to engage with one another, and to actually love what they do. In other words, long-term employee retention is deeply rooted in your company’s culture. Without it, there is nothing to keep them from pursuing a more lucrative opportunity.
The only advantage you have over the bigger brands out there is your company’s heart and soul, and the values that make your work environment inviting to talented individuals. Your brand needs to stand for something truly meaningful, and it needs to emphasize employee health, appreciation, equality, fair compensation, co-dependability, smart leadership, and honest communication.
Establish clear and honest communication
One of the essential prerequisites for an efficient, productive, and positive work environment is effective communication. Not only do your team members need to understand your company’s communication architecture and hierarchy in order to avoid confusion and prevent bottlenecks, but they also need to understand how to communicate effectively in order to contribute to a thriving work environment. Needless to say, this will require you to invest some time in employee training.
First of all, you will need to establish clear communication policies and ensure that they are understood by every employee. You want information to flow freely throughout the company and reach the person it’s intended for in order to make the lives of your team members that much easier. Next, you will need to educate your employees on what constitutes effective communication. Make sure they understand the importance of honesty, equality, mutual respect, and accountability to achieve this goal.
Encourage diversity in your teams
Building a diverse workforce in your company has many profound benefits aside from making you comply with the local rules and regulations – it can also enhance your brand’s image in the eyes of the public, and help you create a devoted and loyal employee collective. Concretely, you want to tap into the numerous talent pools around you in order to identify the most prominent individuals with the best work ethic and a true appreciation for your brand’s mission and vision.
One of these talent pools includes people with disabilities, as it encompasses a wide range of talented and hard-working individuals. People with disability, injury, or illnesses can not only be great workers, but with the help of a trusted disability employment services provider they can obtain the necessary training and guidance to become proficient at their job. Most importantly for small business owners, people with disabilities are the most grateful employees you can have, so you can rest assured that they will not only stay by your side, but be the most productive members of your team as well.
Give your employees a reason to stay
A paycheck is not a perk, it’s compensation for time and labor your employees invest in your company. This means that you cannot buy employee loyalty with a salary, nor that you can demand it. If a paycheck is all that you have to offer, you will lose your talented team members to brands that emphasize professional and personal development in the workplace.
To prevent this, you need to create comprehensive employee advancement programs that will allow your team members to drive their careers forward. Take a closer look at every job position, and try to figure out ways those individuals can obtain new skills and knowledge they can invest in growing your business. Not only will this give them an incentive to become your loyal employees, but it will also broaden their expertise and directly influence your company’s growth to boot.
Be the leader they can count on
And finally, don’t forget that people leave their bosses, but not their leaders. By providing constant guidance and assistance, by being their mentor, by answering their questions and resolving their problems whenever you can, you will earn their trust and become the leader they will want to follow through thick and thin. So instead of hiring employees so that you can work less, be sure to hire them so that you can work together to build your brand into the industry giant it deserves to be.
Younger generations of employees are not afraid to quit their job. Treat them badly, and you will lose them for good. On the other hand, you have the opportunity to implement these solutions and build a devoted and passionate employee collective that will help your small business soar.