A running truism in entrepreneurial circles is that “one great employee is worth ten bad workers”. A key to success in business is making sure that you attract, identify, and hire the best workers possible, but the challenge doesn’t stop there.
Owners need to provide a situation where the best people happily return to work for years. Employee retention is just as important as the hiring process and here’s how you can make sure that you organize and keep the best team possible at your firm.
Perfect Your Onboarding Program
Ensuring that your new hires are getting off on the right foot is crucial to making sure that everyone knows what to expect and how to operate in a new workspace. Many fresh workers are understandably nervous upon starting with a new firm, so it’s paramount to make their onboarding to your staff as friendly and clear as possible.
Letting employees know what their responsibilities are and what resources they can access can set the tone from day one. No one wants to lose a good worker to cold feet because they were unclear or alarmed by a hostile or vague orientation process. This is especially important for hiring to fill a remote position.
Make Sure That Your Compensation Is Competitive
Never forget that your workers are generally looking to pay their bills. Business owners need to constantly monitor their competitors to be sure that they are offering competitive wages as well as benefits packages when applicable.
Even the most passionate worker can be forced to leave if your offerings don’t keep up with market trends. Don’t miss out on exemplary employees because your company hasn’t updated its compensation or benefits packages.
Provide Constant Feedback
The ritual of annual performance reviews is going the way of the dinosaur, and this is a good thing. Quarterly reviews can be a great way to let your employees know that you acknowledge and care about their production. Furthermore, it can be a great way to discuss your employees’ goals and have them thinking about their future within your company.
This relies on your ability to make performance reviews a welcome experience. You and your team members should be excited to discuss their work and everything that the future might have in store. Don’t make promises that you can’t keep, but don’t make employee reviews feel like being called into an interrogation.
Acknowledge Work-Life Balance
Your employees need to be seen. This means noting that they are not just cogs in the workings of your business, but that they have dreams and ambitions outside of the workplace. Doctors and emergency personnel may have periods where they have to be on-call for several days, but this doesn’t mean they don’t have other obligations.
Likewise, programmers and journalists may have to participate in a “crunch” to meet certain deadlines, but managers should acknowledge that this can’t be a constant in the workplace. Demonstrate how proud you are of your workers for meeting certain milestones or periods of chaotic business with a long weekend.
Anything that lets your crew know that you are aware when they are going the extra mile can go a long way to ensuring their continued enthusiasm and loyalty to your firm.
Hiring practices and employee retention policies are ultimately two sides of the same coin. It is expensive to filter out the best candidates and then train them up in your company.
Doing all you can to keep your team happy and healthy pays dividends in not only your hiring department but also bolster your reputation as an entrepreneur those other talented individuals want to work for. Corporate Business Solutions Reviews can help you in every step of your mission to find and keep the right people in your firm.