Finding great employees is only half the battle when it comes to building a quality team for your small business. You also have to learn how to keep good employees.
You can’t just assume that the employees at your business are happy and likely to stick around no matter what. In fact, according to an infographic from HighGround, 55 percent of employees are searching for other job opportunities already. And the average company loses between 20 and 50 percent of its employee base yearly.
In order to avoid creating a revolving door at your company where the best workers leave again and again, why not learn how to keep your employees engaged. According to HighGround, companies with highly engaged employees have employee turnover rates that are 31 percent lower than average. Wouldn’t it be great if one of those businesses was yours?
How To Keep Good Employees
So how do you keep those employees engaged? First of all, you need to create management and communication processes that work for your employees. Your workers need to feel like they are doing work that really matters for your organization. Employees need to have clear instruction and direction to build confidence. But they also need constructive criticism to improve their work.
It’s important to constantly give your team positive feedback about their accomplishments. If you don’t show your appreciation in some way, team members could begin to feel unclear about the importance of their contributions. Sure, employees may know they are doing a good job. But lack of feedback could lead to a feeling of disconnection from work if these accomplishments go unnoticed.
You also need to make your company’s values and culture very clear to employees from the very start. If your website and other public information convey those values clearly, then you are more likely to attract employees who share those values in the first place. And if workers share your values, they’re more likely to stay for the long run. After all, according to HighGround’s data, 33 percent of your new hires know within the very first week whether they’ll be sticking around.
Overall, you have to create an environment where employees clearly understand how essential they are to your company’s success. If you can create such an environment, your employees are more likely to feel happy and engaged. And engaged employees are much more likely to remain with your company and continue providing the valuable work they do.
For more data on the connection between employee retention and engagement at work, plus some ideas on how to keep your best employees for the long haul, see the infographic below.
Revolving Door Photo via Shutterstock, Infographic: HighGround