Retaining employees in a small business is sometimes not an easy task. Unlike big organizations small businesses have smaller budgets therefore they cannot offer many perks to their employees. Small businesses have to use ways other than spending money to retain & motivate their employees. Some of the things they can do are as follows:
Respect Your Employees: The first & most important thing when you desire to retain your employees is that treat them as human beings, do not criticize or yell at them. Try not to do anything that hurt their feelings. Always be polite and talk to them in a friendly tone. Communicate with them often and try to understand their problems.
Train & Develop Your Employees: Show them how to perform their duties in the right way. Also, time to time teach them new things. Take interest in their career development. This will motivate them and help them to work with confidence.
Give Recognition & Reward Your Employees: Every time any of your employees meets a target or perform well recognize his / her efforts in front of other employees and reward him / her by giving a letter or certificate of appreciation. Be generous with praise. This will make him/her feel good and increase employee's loyalty with the organization.
Involve Your Employees: When making decisions involve your employees. Ask their opinions and then make decisions accordingly. Keep them engaged and make them understand that problem solving and meeting targets is a team work. This will make employees feel important and they will work hard to implement the decisions wholeheartedly.
Allow Flexible Working Hours: Be result oriented and do not make rigid rules. Offer flexible working hours to your employees or allow them to work from home. As long they are meeting the deadlines you should accommodate them. Make family-friendly policies. This will provide you highly motivated and loyal employees.
Do Not Layoff Your Employees: Even in difficult times make laying off employees your last option. First focus on cost cutting. Communicate with your employees and ask them to come up with cost cutting ideas. When you will help them in testing times then most likely they will be with you when you need them.
Profit Sharing With Your Employees: Every time your organization does well and earn some handsome amount then celebrate this with your team. Also, share the profit with your employees by giving them a bonus. This will not only increase their motivation but also increase employees' loyalty toward s the organization.
Provide Good Working Conditions: Treat your employees well. Make sure the working conditions you provide encourage them to work hard and stay motivated. Give them proper tools, a comfortable place to work and all other necessary facilities which make them to perform well. Make your work place a happy place.
I hope you found the above helpful. Please feel free to comment.