Young Entrepreneur Tips For Retaining Employees
Entrepreneurs, whether they’re seasoned or just starting out, can succeed at finding and keeping a successful team.
Here are some tips we found on Entrepreneur.
Young Entrepreneur Tips For Retaining Employees
Prevent constant employee churn with these proven strategies to retain employees, increase worker satisfaction and help you build a first-rate team that will evolve and grow with your business.
1. Retention starts with recruiting.
The first step toward building your business — and retaining talent — starts with recruiting.
Putting out job descriptions that are as specific and detailed as possible so you get the right applicants for the job.
It’s not just about finding highly qualified candidates; it’s about finding people who are truly a good fit for your business.
2. Focus on putting together the right team.
Putting the right mix of people on a team is crucial for both productivity and employee retention.
High-performing teams include people whose skills, talents, desires, and goals are balanced against each other. Poor team dynamics can push valuable employees to leave an otherwise great business.
As much as possible, align teams around employees’ preferences and skills. Make sure you’re building a cohesive team whose members can feed off each other and support one another.
3. Hire for culture fit.
When you hire someone, you have to consider an applicant’s job fit — do they have the necessary skills and expertise to do the job?
Cultural fit is the likelihood that a person will be able to integrate and adapt to the core values and collective behaviors that make up your organization.
As a young entrepreneur, it’s likely your business is just getting underway, in which case it’s up to you to lay the groundwork for the kind of culture your company will have.
What values, norms, and habits do you want to instill in your business?
4. Create an environment where employees feel like an asset to the company.
When people are excited to come to work they’re not going to want to quit.
Make your company personal by putting employees first, ensuring they feel they’re part of the company framework. Let them know what strategic direction the company is headed in and get their opinion.
Involve them in dialogue regarding changes that affect the company. Encourage goal-setting and let them make their own choices as often as possible.
Those who feel valued will be happier in their jobs and are more likely to become star performers.
5. Provide opportunities to grow and learn.
Organizations need to provide employees with opportunities to grow, learn and excel beyond their starting point with the company.
Employees are looking for on-the-job training to keep their skills fresh and updated, or tuition assistance for continuing-education classes.
When possible, allowing employees to focus on projects they enjoy will go a long way toward creating overall job satisfaction and a desire to stay.
6. Give employees freedom and flexibility (within reason).
Allowing employees freedom and flexibility in setting their own schedules is key to retention.
Don’t make employees stress about having a doctor’s appointment or needing to leave for a family emergency or other obligation. Though, of course, they should be expected to meet project deadlines and fulfill their work obligations.
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