Employee Loyalty and Retention

The hiring and training process for new employees can be draining. The best way to avoid this is to retain the employees you have. How can you hold onto to high-performers and those who are most valuable to your business?

Benefits: Evernote gives its employees biweekly housecleaning services. It’s unique and practical–it’s an expense that many people wouldn’t necessarily want to take on, but is a service that everyone can enjoy. Evernote claims that they want employees’ spouses and families onboard with the company. You don’t have to go this far, but be aware that benefits can often have a major impact on the quality associated with working for you.

Culture: Trying to maintain a company culture can be difficult. Acknowledging and dealing with any “bad eggs,” so to speak, is critical. The office may be hectic at times, but generally trying to rein in the chaos is a good thing.

Relationships: Backbiting gets old very quickly. Promoting collaboration and pursuit of a common goal, rather than only emphasizing individual performance, can quickly make the best office seem sour. Individual performance is one part of the work experience; be certain you frame individual goals within the larger framework of the team and of the company. Make sure everyone knows how important their role in the business is.

Money: Despite what many surveys and studies like to claim, money is the biggest factor in employment. Everything has a price. If you can afford it, it is worth the money to raise a stellar employee’s salary or give him or her a bonus. There is usually a great return on investment in these situations.

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