Holding on to your best employees - part two

The people you employ to help run your business can be vital to the success of your company.

You won't always hire the top employees, but a good screening process can be crucial in ensuring you employ the best people available to work for you. 

As hard as finding good employees can be, keeping hold of them can be even more challenging. We previously looked at ways you can keep hold of your employees without breaking the bank to compete with inflated salaries from competitors. Here are three more cost effective ways to keep your employees satisfied once you have them, and improve the likelihood of them staying with your business.

Deliver on promises

Your staff may often come to you on their own accord to try and pursue their career within your company. It's important you listen and try to pursue their interests and map out a future that will satisfy their interests.

Most importantly, if you had previously agreed to enroll them into some training or move them to another area of your business, make sure you follow through with your original decision. The last thing you want is to lead on your employees as it could affect their happiness and result in them pursuing other companies.

Ensure employees sign contracts

Regardless of the industry you operate in, it's common practice now for employees to sign a contract that will protect their employer's trade secrets and alleviate the poaching of staff and/or loss of clients.

A succinctly worded contract will ensure your employees promote the interests of the business and don't pursue any outside business activities without your permission. One way to avoid clients following a certain staff member out of your business is to encourage a good working relationship between several of your staff members and your clients.

This way if you lose a valuable member of your current roster the client has other resources within your business to turn to.

Workplace benefits

Implementing workplace benefits in your business is a great way to ensure your employees remain happy. The best thing about work place benefits is that there are a number of different programs or benefits you can introduce to your company to boost the morale of your staff.

Benefits can be as simples as having a day off on your birthday to more flexible options, such as allowing time off for study. Other workplace benefits include:

  • discounted gym membership
  • free fruit bowls
  • introduction of workshops
  • subsidisation of a course or conference
  • work from home options
  • mentoring program.

The combination of programs and number of incentives you chose to introduce are entirely up to you, but a range of different plans will help contribute to building loyalty.

Keeping hold of your best employees isn't easy and you won't always be successful in doing so. Sometimes the allure of more money or more responsibility is too hard to match, especially when operating a small business. The most important thing is that you provide an environment that will keep your staff happy and challenged. Ultimately, the more likely they are to feel valued, the better positioned you are to retain their services.

Want to hire the best candidates? Click one of the links below for more information on how you can perfect the hiring process.

Top 10 tips for hiring staff: Part one / Part Two

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