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How Small Businesses Can Retain their Top Talent

Behind every successful company is usually a strong team that drives it.
As a small business owner, your job is to retain that top talent by keeping them satisfied and motivated.
Here’s how you can do just that:

Appreciate Achievements

Recognizing employees for their progress and hard work is essential. There are various ways in which you can keep them driven and inspired, and rewards don’t necessarily have to take on a monetary form.

  • Giving them a day off after completing a difficult long-term project, or treating them to a free lunch at a nice restaurant, can go a long way.
  • Publicly praise people when they’ve hit a milestone or overcome a certain challenge.
  • Even acknowledging contributions with a simple yet heartfelt “thank you” can make your team feel valued.

Bring in the Benefits

Often, with small businesses, it’s difficult to simply increase the compensation or offer high salaries in order to attract and keep talented employees. However, there are various other perks that you can offer to encourage great performance in the workplace:

– Flexible schedules that allow employees with families, for example, to work at home when necessary, or work at hours that are more convenient for them
– A laidback work culture that encourages creativity
– Free use of equipment of other resources (e.g. to use for side projects)
– A break room that is stocked with free coffee and snacks

Consider their Careers

Although it’s easy to think that employees want your business to succeed as much as you do, that is simply not the case. Everyone prioritizes their own careers, so keep that in mind when you’re hiring and thinking of keeping people for the long term.

  1. When people join your team, discuss their careers objectives with them and how your business can help them achieve those.
  2. Factor in added responsibilities and new roles that will ensure the employee remains engaged and challenged (creatively, for example).
  3. Make training and learning opportunities—such as online courses, in-house management training, etc.—available. Investing in people makes them feel valued.

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