As a small business, hanging on to valuable employees can sometimes prove to be difficult. Business owners often become discouraged by their employee’s leaving for things they feel they cannot provide; better pay, benefits or a retirement plan. The good news is, there are ways to avoid turnover, even if you’re a small business.
1) Communication is key
Encourage communication throughout your business. When employee’s know whats going on and whats expected of them, they will spend less time being frustrated and more time being productive. Seek out ways to streamline communication, such as email, chat or implement a daily staff meeting.
People are happier in general if they feel their thoughts and opinions are heard, this is no different in the workplace. If an employee approaches you with an idea, take the time to hear them out. Even if the idea isn’t something you can implement right away, you will gain the insight of a different perspective and your employee will appreciate that you took the time to listen.
Employee’s are usually the ones on the front lines and have first hand knowledge of whats working and what’s a drain on your business-maybe take it a step further and include an “ideas and feedback” segment to your staff meetings.
Keeping employee’s engaged is seemingly an uphill battle, but it may be easier to achieve this as a small business over a large one.
As a small business owner, you’ve probably developed a relationship with each employee. If you haven’t yet, try and find the time. It’s something as little having a quick conversation to get to know them. When an employee has a connection to their boss and co-workers, they will be more connected to the business and are more likely to come to work.
Communicate your mission, and often. Employee’s that are aware of the mission will be more engaged in driving that mission forward. Make each person feel they play a vital role on a day to day basis, as well as with long term objectives.
3) Foster Growth
What’s the old saying? if you’re not growing you’re dying? As a small business your training resources may be limited, but not impossible. Your employee’s want to learn and grow with your business.
Seek out ways to continue employee growth beyond the new hire training routine. Continued learning can be flexible, depending on what works for you: reading, webinars, one on one coaching with you, a manager or hired trainer- any way is the right way. Your employee’s will be more engaged and they will also pick up invaluable skills that will ultimately serve your business’s success.
4) Give them some responsibility
People feel valuable when they have responsibilities. This may mean you have to let go of some of your own tasks and delegate! Even if it’s a small job, if you have a good reliable employee recognize that by giving them your confidence.
By adding on some important tasks, this will also help your employees avoid burning out. If you can assign your workers a varied list of tasks it will help keep them engaged versus a mundane routine that could lead to a disengaged unhappy employee.
5) Outsource your benefits
Ever wonder how on earth a small business can compete with big corporate benefits? Well, you’re in luck because we’ve got the answer. And it’s affordable.
Professional employer organizations have been around for quite awhile, but unfortunately the industry just isn’t commonly known. PEO’s are a fantastic solution and many small businesses are utilizing them because they can make up for the options and support a small business my be lacking.
A PEO provides solutions that help manage other company’s human resources, employee benefits, compliance and payroll. A PEO works through a co-employment arrangement or “employee leasing”.
PEO’s aggregate small businesses employees into one large group, and negotiate better rates with insurance companies. This allows small businesses to offer large group benefits for affordable rates. This can all be accomplished by hiring a PEO for a low monthly service fee.
For more information on PEO’s, contact us at: email@example.com