When it comes to running and growing your business, finding great employees is just half the battle—you must also find ways to retain them. Here are three tips to help you do just that.
Pay Above Average Salaries
It’s pure math: if the compensation you offer is attractive, your employees will think twice before changing jobs. At the end of the day, money is one of the most important reasons why we work. By tweaking this part of the retention equation, you can dramatically stack the odds in favor of your company. Money isn’t everything, though, as we will see in the next points.
Let’s face it: nobody likes to be micromanaged. If your employees feel that you are monitoring every single detail, they will begin eyeing the exit pretty soon. There’s a fine line between being involved and micromanaging. To ensure that you stay on the positive side of that divide, recognize that your way is not the only way to do things, and learn that in some situations you just have to trust your team and give up control.
Make Your Employees Feel Appreciated
As we said earlier, money isn’t everything when it comes to retaining great employees. We need money, to survive but we also need to feel appreciated and acknowledged. All other conditions being equal, most employees will prefer a company that makes them feel valued over one that treats them as numbers. Some ideas to make your employees feel appreciated include:
- Be open to feedback
- Offer praise when it’s due
- Allow them to make decisions
- Make it easy for them to achieve a satisfactory work/life balance
- Offer a good compensation package
More Tips and Ideas
From returning to the office after the pandemic to the right structure for your business and everything in between, these are some previous posts you can check out for more ideas on how to lead with confidence:
- Tips to win the war for talent
- How to use social media to grow your career
- 3 Tips to prevent and address employee burnout
- What is candidate ghosting and how to avoid it
At the Pomona Chamber of Commerce, our mission is to keep you up to date with the most relevant developments in business management and administration so you and your company can take advantage of new opportunities. Contact us by email (firstname.lastname@example.org) telephone (909-622-1256), social media, or click on this link to join and start enjoying the benefits of membership today.