Thursday, 21 June 2018

Information and commentary for the small business banking industry

Retaining great employees

20 Sep

Most successful small businesses have a key factor in common – great staff. Hiring and retaining awesome employees is critical to the success of a business. And there are some simple ways an employer can ensure they keep great staff on board.

Communication is one of the most fundamental things to get right. It’s important for an employer to take the time to find out how they’re doing, if there’s anything they need help with, follow up with any issues and most importantly, to make them feel valued. Getting their feedback is essential, as they’ll know their opinion is valued and that they’re being listened to.

It’s also important to keep tabs on their professional development. Employees are more likely to stay with a company if they feel they’re getting valuable training and growth opportunities. Making sure they have the tools they need to do their job well is also essential.

Optimize incentives so that they’re tailored to an employee’s specific desires, and offer rewards that aren’t necessarily bonuses. They could be as simple as a movie voucher or an invitation to an industry event. It’s all about making sure they know their value to the business.

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