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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
Tips for Improving Employee Retention
Finding the perfect employees isn’t easy. As a business owner, you go through many interviews until you find the right fit for yourself and your business. Unfortunately, many owners fail to provide things such as advancement opportunities, company benefits, and a stimulating environment. To avoid having your employees look for another place of employment, it only makes sense to do everything possible to keep happy.
Climbing the Ladder
Most people need the reassurance of knowing that their current position in the company is not the end game. They want to work for a company that provides room for job advancement by hiring employees from within. For instance, someone applies for an entry-level position such as a receptionist. They invest their time learning every aspect of the business and when a job opening comes along they are considered for the position.
Breakroom Amenities
Your employees are at their desks for 8 hours or more each day. When it comes to taking breaks or lunchtime, they want a place to relax and unwind. Having a break room with common amenities that can include a refrigerator, microwave oven, sink, a coffee maker and a water cooler, makes them feel a part of the business. If you want to dispose of the water cooler for the expense, installing a water softener for areas with hard water will improve the health benefits.
Benefits of Employment
You have a successful small business that you worked hard at for many years to reach this level. However, it’s probably also fair to say that you didn’t get here on your own. Your employees are a huge part of your success. If you want to retain good help, you need to share the profits. Many companies offer perks that include a comprehensive health care package, a 40lK with company matching contributions, and annual bonuses. In addition, especially if you are a sales-based business like insurance, most business owners offer monthly bonuses for the sales acquired. In short, if you want to keep good employees you have to pay them well.
Be Flexible
It’s a new day for businesses where the common practice is quickly moving from the office environment to remote locations. In order to attract and prevent your employees from looking for a new job, becoming more flexible with regard to where they work will benefit you immensely.
Input
A good way to improve your retention rate is to allow employees to contribute. One way to achieve this is by allowing them to have a voice. Holding a monthly meeting where you present your goals and progress and then ask for input, will benefit both you and your employees.
Take Notice
Every person who works wants to know that they are doing a good job. Sometimes a simple thank-you can go a long way to making your employees happy. If someone goes above and beyond expectations and takes initiative, you should acknowledge their achievements.
Micromanaging
If your personality often causes you to micromanage every task, you’re doing more harm than good. Trusting your employees is essential. And, this means that you let them complete daily tasks without intervention. Hanging over them to see where they are will only turn their productivity off and make employees less likely to contribute to your business.
Communication
Keeping the communication open between you and your employees is essential to the growth of your business. Encourage everyone to express their thoughts or concerns with regard to a project. This will also enable you, the business owner, to make suggestions too, without triggering a defensive reaction from your staff.
In order for a business to achieve its potential growth, you need to have qualified staff behind you.
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