If you are a small business, take these tips into consideration if you want to keep your best and brightest employees and have high employee retention.
Great employees are the lifeblood of any business, but employers are the heart that pumps this blood which makes their business succeed. Losing employees is a concern for any small business because it costs them not only money, but time and productivity. For small companies, keeping the productive and hard-working employees is crucial. Here are a few tips on how employers can have high employee retention for their business.
- Stay Competetive. Stay Creative.
Beating the salary of a bigger company may be difficult, but you can keep your employees by staying competitive and creative. Offer bonuses for a job well done. Additionally, you can offer flexible schedules, work from home days, extra vacation days, et cetera.
- Acknowledge Achievement
No one likes to feel ignored. Be sure to acknowledge your employees so they feel appreciated and part of the team. Even something simple like sending your employees “You are doing an awesome job!” can make all the difference. This goes double if you have Millennials working for you, who feed off acknowledgment.
- Listen to Your Employees
You can’t know what your employees need if you don’t listen. Regularly ask your employees what they need and want from their jobs as well as the company. Don’t wait until it’s too late because by then, your best employees will have surely left.
Take these employee retention tips into consideration in order to keep your best employees. Make sure that your small business is protected with the right commercial insurance policy. Contact Abatelli Group, Inc. for a proper policy on your insurance needs.