As a business owner of a growing business, you understand the importance of adding talented professionals to your team. Your employees are a direct reflection of your business and play a huge role in the environment and vibe of your business. There is no better feeling than finding the perfect candidate to fill your job opening – the tricky part is how to attract and retain top talent to your business.
Unfortunately, there isn’t a magic trick business owners can use to attract or retain their best employees. Rather, employee attraction and retention are a combination of various different efforts. A large portion of retention revolves around the company culture. Who would want to work long term at a job they dread? Or who would stick around if the working conditions are sub-par or even unsafe? Some people might tough it out, but the only way to increase these odds is to bring your employee-retention strategy to the next level.
Keep these five tips in mind when developing or improving your retention strategy.
Keep Culture in Mind
The culture of your business plays a huge role into employee job satisfaction and productivity. When you are hiring a new employee, assess their skill level and ability to effectively fill the position. But don’t forget to think about how their personality will add to the work culture you and your team have created. Look for employees who will mesh well with the team and overall culture of the business.
Tip: Word of mouth is your best friend. If your employees are happy with their job, they are going to tell their family and friends about their high job satisfaction. Positive talk around your business will attract the attention of talented professionals in your area.
Encourage and Promote Professional Development
You don’t need a huge budget to help your employees advance. Research and promote free seminars and networking events to your employees. Invite a professional in for a lunch and learn. Introduce your employees to your connections and help expand their network and the community. Encourage your team to continue advancing themselves professionally by offering time to attend webinars and conferences or complete online courses.
Give Employees the Option of Flexibility
Businesses that stick to a strict nine to five schedule tend to have lower retention. Consider allowing employees the flexibility to set their own schedule – within reason. Of course, employees are still expected to complete projects, meet deadlines and maintain job responsibilities. Allowing for some flexibility takes the stress off employees. You don’t want your employees to worry about a health appointment, an emergency, or other obligations. With open communication and trust, this model of flexibility adds a strong company culture and may lead to higher employee job satisfaction.
Offer a Rich Suite of Benefits
A majority of employees say that benefits are very important to them. The first glimpse job candidates see into the business is the benefit package. Nothing tells an employee that you truly care about them more than taking care of their health and wellbeing. Not only does a strong benefit offering help your business stand out in the job market and attract qualified candidates, but it also helps retain the top talent you worked so hard to find.
Tip: Take a second to evaluate your benefit offering… What’s included?
Focus on Your Team
Encourage team building activities. Promote company-sponsored activities that encourage employees to communicate, work through problems together, and get to know one another outside of work. Team building activities help create a sense of unity and increased morale. Research has shown that friendships at work increase overall employee engagement and aid in retaining your best employees.
If you are going to talk the talk, then you better walk the walk. Business owners who lead by example are more likely to benefit from their employee retention. Taking the time and energy to improve the overall employee experience can help any business attract and retain top talent to their business.
For Business Owners Who Want More
Business owners who are looking for innovative ways to increase their employee experience may choose to turn to a Professional Employer Organization for assistance. Working with a Professional Employer Organization, or PEO, gives business owners access to a team of business professionals.
Your Local Iowa PEO
Focus OneSource is one of the few locally domiciled PEOs. We are owned and operated out of the Des Moines metro and have been helping growing businesses in the area succeed for over a decade. As a PEO, we help business owners gain access to a rich suite of benefits at an attainable price point and monitor compliance with human resource practices. Business owners who have Focus OneSource working in their “back office” are statistically 50 percent less likely to fail and have 10 to 14 percent lower employee turnover.
Are you ready to increase your business productivity and profitability? Contact us today to learn how we can help take your business to the next level!