For myself and many other small businesses, employee turnover is a huge issue. When you have a small team and on person leave, it leaves a gap in what others have to do to make up the difference or it just not get done at all.
This doesn’t even take in the amount of stress it puts on anyone or the cost of replacing them. This shift in responsibility can create productivity issues and lower moral.
So the more we can keep our talent, the better. The number one thing at the top of the list for why employees leave is money. Pay a solid base pay. This is at the top of the list for both employee attraction and retention.
So what are the things we can do as employers to keep our top talent?
- Be A Good Boss. According to the Society for Human Resources (SHRM), “28% of employees say they would rather have a btetter boss than a $5,000 raise, it’s clear that having a good boss is something that is highly rated by your team.
- Provide clear developmental opportunities. Have you ever thought that you were going nowhere in a job? If you have thought that ever, then your team has too. As an employer it is vital so show your team where they can go – what skills they can grow and contribute, opportunities to serve, and really dial into their heart’s desires.
- Create a great place to work. Think about your idea workplace. Most people seek stimulating projects, organizational and personal well-being, and dedicated teammates. Allowing others to be toxic poisons the whole. Be an employer who is mindful of what is truly happening around you.
- Get creative with employee perks. If you don’t have a huge budget, that is is ok. YOu just have to think outside the box and even ask your team what they want. Perhaps they would like to have game consoles, pet to work days (people are gaga about their pets), or even just extra recognition. People will do more for recognition than money somet
- Pay attention to employee benefits. According to SHRM, 63% of employee s say benefits are “very important” which was even ahead of compensation/pay at 61% and job security at 59%. If you are a small employer that can not afford benefits at the level of a large organization, consider voluntary benefits to your team.
Our team would love to help you see the value in offering a solid employee benefit or voluntary benefit plan to your organization – no matter what the size.