With the difficulty small businesses have hiring new employees, it is imperative to find ways to retain those you currently have on staff and any new ones you can bring in. While adequate compensation is a good start, it is not the only thing needed to retain quality staff. Here we take a look at six ways to reduce turnover at your small business.
Refine Your Hiring Process
The first step in retaining employees is to make the right hiring decisions. This begins with developing a detailed persona of your ideal employee and going through a thorough interview process. While there will be times when you need to make an immediate hire, it is always best and less expensive to go through the process of finding the right individual for the job.
Invest In Your Employees
This is not just about paying them a competitive wage. You want to give your staff a clear path to advance and grow within your company. Engage with them to find out their goals with your organization and work to put them on track to accomplish them. This may include additional training or even schooling. This will help to create competent and loyal employees.
Offer Unique Benefits
Along with basic benefits such as health, dental, vision, 401k, and vacation time, unique incentives can differentiate you from other businesses. This could include gym memberships, remote work, pets in the workplace, and anything else that shows you care about the wellbeing of your employees. Ask your current employees what they would like to see and start there.
Make Work Fun And Engaging
Work is work, but that doesn't mean you can't incorporate fun into the day. People spend a large portion of their lives at work, so making it an enjoyable experience is necessary to retain employees. Small gestures like compliments, snacks, company outings, and recognition can be enough to create a fun and engaging culture that people want to remain a part of.
Create A Welcoming Environment
Especially in today's day and age, you need to provide a clean and welcoming environment if you want to attract and retain both employees and customers. This may involve putting in new flooring, painting the interior, renovating your restrooms, and simply adding some inviting décor. People want to be comfortable in the place they'll be spending 40 hours a week.
Provide Flexible Schedules
Flexible work schedules have been a hot topic in hiring circles for years now, but they can be a bit difficult for small businesses to offer. Since small businesses, by their nature, have fewer employees, it can be tough to create staff flexibility. That being said, some level of flexibility with fewer penalties for being late/absent can be a significant incentive.
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