For small- to medium-sized employers, the loss of a single key employee can be devastating; it can mean the difference between accomplishing a key business goal and falling short. To help our customers, we’ve teamed up with employee recognition experts Bonusly to write an eBook that can help you solve this problem.
11 Strategies for Building an Outstanding Employee Retention Program On a Small Business Budget summarizes actions you can take to find and retain employees who can help your organization thrive.
The 11 strategies are summarized as follows:
- Hire right the first time
- Benchmark and track your employee retention rate
- Benchmark the cost of employee turnover
- Identify the perks your best employees want
- Evaluate health benefits
- Provide different benefits for different employees
- Set clear employee goals and expectations
- Offer a clear career path
- Invest in your managers
- Create a positive company culture
- Recognize contributions
Your small business is powered by the people you hire, yet small businesses with limited time and resources struggle to find and keep top talent. The good news is there are new ways that can help you take control of staffing needs so you can get on with your primary role of making your business a success.