February 2015
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The Buzz

Employee Retention Strategies

Tuesday, February 3, 2015

When employees leave, it can send shock waves through an organization, especially a small business. Replacing an important position is time-consuming and expensive, as well as frustrating. However, there are several easy ways small business owners can reduce turnover and ensure a happy and engaged team. One way to keep employees motivated is through incentive programs. These don’t necessarily have to be monetary or even costly. Gift certificates, additional paid time off, or even taking an employee out to lunch can go a long way in demonstrating appreciation. Another way is to provide job skills training and continuing education opportunities. The more an organization encourages and rewards personal development, the better positioned it will be to retain its best employees. Communication is also paramount in keeping employees engaged. Managers should not only encourage feedback by listening to complaints and concerns, but they should also act on the issues employees bring up. Nothing is more frustrating for employees than to feel as if their opinions don’t matter or their ideas can’t change processes.

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