Employee Retention Challenges and Solutions
Does your small business struggle to hire or retain excellent employees? Here are nine suggestions for keeping top talent.
As a small business you should be aware of exactly how you are actively supporting your employees’ overall success. The pandemic has shown us that employees are looking for new and better opportunities all the time and that small businesses are struggling to hire and retain employees. Whether it be to thrive in their current role at your organization or to prepare them for their next career advancement, it is your responsibility to make sure your employees grow and thrive in their jobs. Ensuring your team is equipped with the latest knowledge and skills in their field will definitely contribute to your business’s long-term success. Constant employee turnover is costly and time consuming, therefore investing both mentally and financially into your employee’s growth will help with retention issues. Employees know when they’re being supported, and when they’re not.
Here are some suggestions you can take to increase your employee retention:
Retention Suggestion No. 1: Open lines of communication. Goals change as we grow. Talk with your employees about their career goals. If possible, create a development plan to help them grow into management, if that is a goal, or other ways in which you can help foster their goals.
Retention Suggestion No. 2: Enhance communication between all levels within your company. By removing the level barriers, you may find that sharing ideas will help your employees and help your company to grow.
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Retention Suggestion No. 3: Create an open-door policy. Let your employees know that they can come to you when they have an issue. Creating trust will help with productivity and performance.
Retention Suggestion No. 4: Create a mentorship program. A lower-level employee can grow into a great manager. Mentoring can help your company’s culture while also providing a way for management and senior employees to get to know junior employees.
Retention Suggestion No. 5: Invest in employee training. If you have a training program in place for new hires, it helps to avoid any disconnect between current employees and new hires. This can be done virtually or in-person as things begin to open up. And don’t forget on-going training for all employees to increase their skill set, as well as training for diversity & inclusion initiatives, HR and workplace protocols and team-building skills.
Retention Suggestion No. 6: Invest in professional memberships for your employees. This will provide employees with a means to develop relationships and new skills and come back with new ideas and innovations.
Retention Suggestion No. 7: Do performance reviews. Even if you have only a couple of employees, performance reviews are a way to let employees know how they’re doing, and what they can be doing differently in order to reach their goals. Be candid, but also constructive. Do annual reviews, but also think about doing quarterly reviews.
RELATED: Read more by Tim Dimoff.
Retention Suggestion No. 8: Recognize your employees. Find ways to recognize the accomplishments your employees make throughout the year to encourage them to keep up the good work.
Retention Suggestion No. 9: Expand their horizons within the company. Offer employees opportunities to delve into other departments—including shadowing a co-worker for the day. This gives them an idea of what others are working on and helps them see how everyone works together to achieve overall company goals.
By investing in these simple ideas, you are also investing in your company’s growth.
Timothy A. Dimoff, CPP, president of SACS Consulting & Investigative Services, Inc., is a speaker, trainer and author and a leading authority in high-risk workplace and human resource security and crime issues. He is a Certified Protection Professional; a certified legal expert in corporate security procedures and training; a member of the Ohio and International Narcotic Associations; the Ohio and National Societies for Human Resource Managers; and the American Society for Industrial Security. He holds a B.S. in Sociology, with an emphasis in criminology, from Dennison University. Contact him at mailto:email@example.com.