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Employee retention strategies for small businesses

August 29, 2016

Small businesses require hard-working employees that can contribute to a variety of areas. Regardless of industry, most small business employees have to be team players and are expected to manage a wide range of responsibilities. Due to this, it is important to consider employee retention strategies

As a small business owner, you may not have the funds or time to periodically train new employees, which is why you should invest in your current staff members. This way, they won’t be tempted to find a new position elsewhere, and you’ll have a great group of people making your small business a success! Check out our best retention strategies here:

1. Promote from within – People like to feel valued. By promoting from within, you’ll recognize your employees’ hard work, and give them the chance to grow. There may be circumstances that require you to find new employees for certain positions, but make sure that you’re taking advantage of the talent that you already have! If employees don’t see opportunities for professional development, they may start looking for a new role.

2. Be transparent – Always strive to be honest with your employees about the state of your small business. In addition, provide them with clear instructions about what you expect of them in terms of their work performance. This should be one of the easiest employee retention strategies to follow! By being honest with your employees about big decisions, and what you expect from them, you’ll create a healthy work environment.

3. Promote balance – Of course, you’ll want your employees to be hard working and contribute to your small business, but remember that they are people and have lives outside of the workplace. If you treat your employees as if your business is all that matters, they’ll likely search for a new job. Be cognizant of your employees’ personal needs, and staff retention will be a breeze.

4. Appreciate them –Make sure that you show appreciation for your employees’ hard work! This can be done through simple gestures like holding luncheons, giving cards to employees on their birthdays and being generous with vacation time, is possible. This will ensure that your employees don’t get burned out, and they’ll enjoy the perks of working at your business.

Staff retention is imperative when it comes to running your small business. In order to keep these employees at your business for a long time, you’ll need to give them opportunities for growth, reward them for their hard work and provide a few company perks. Let us know what your best employee retention strategies are in the comment section below!

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