Employee Retention – How to increase in a small business
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In business there is an adage “easier to keep customers than get new ones”. The same is true for employees. “It is easier to keep employees than to hire new ones.”
Many people has a false belief that employee retention is more difficult in a small business. In my experience the opposite is true…why?
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People are treated as people and not numbers
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More opportunities to learn about the business as a whole
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Everyone pitches in
This may not be enough for everyone, so what else can you do?
Your story. Do your people know why your business exists? Understanding the story of why the business was started and how it has developed into today helps people identify with the company.
Purpose. Let people understand their role and how it impacts co-workers, clients, and the company. Everyone wants to have their work matter.
Goals. Have you shared the goals of the company with everyone? Beyond the revenue goals – are you considering expanding your client base, industry targets, or service offered? Share and let them get excited and help you.
Growth. Not only business growth, personal growth as well. It may not always be possible to promote someone, you are a small business after all. People can experience growth through projects or higher level clients. Maybe they can shadow in another area for a lateral move or to be the backup when the person is on vacation. Use your imagination combined with business needs.
These four items will help your retention.
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