Increasing employee retention could not be more important for small business owners. Right now, it’s difficult to find good staff, let alone keep them. Besides the exorbitant financial costs of Onboarding, vetting, hiring, and training employees, there is both an emotional and time toll on the owner and the rest of the team. Turnover costs dearly.

It costs, on average, 1/2 to 3/4 of an employee’s salary to replace that individual.

SHRM

Society for Human Resource Managment

Employee Retention Strategy #1 – Attraction

The first strategy to improve employee retention happens before a signature lands on the hiring document. The first thing to do is to make sure we are attracting the right applicants.

Attracting quality staff does not happen by accident. There are specific qualities and characteristics that we want to seek out. As outlined in Bradford Smart’s book Topgrading, one of the most desirable characteristics of an ‘A-player’, (the type of applicant we desire), is resourcefulness.

How do we find out if someone is resourceful? You sneakily put it into the hiring process! “Tests” for resourcefulness can easily be inserted into your application process. By the time a person is sitting in front of you for the interview they better have already passed some tests. Otherwise, they shouldn’t be taking your valuable time.

Need some ideas? Download your free guide, 15 Recruiting Strategies to Find Great Employees.

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Employee Retention Strategy #2 – Motivation

The second strategy to increase employee retention is to make sure that your business has a plan for employee growth.

People are motivated in differing ways. If you don’t know how employees are individually motivated then you are doing them, and your business, a disservice. You might be wasting a lot of time and money with misguided kudos.

While some people are very motivated by pay, others are extremely motivated by being able to contribute and grow their skills. You won’t know unless you ask!

The Five Languages of Appreciation in the Workplace is a fantastic book to get you started.

Employee Retention Strategy #3 – Training

The third and possibly the most important strategy to increasing your employee retention involves training. Training and equipping staff, investing in their success, shows that you value them. It equips your team with the skills they need to be successful working for you.

When you show that you value your staff by investing in their success, they invest in your business’s success. They are more engaged at work. They value their job because they understand the difference they make every single day.

Training staff to make a difference shows up in your bottom line.

Equipping staff with the skills that they need in order to be successful in their job is not limited to simply training the task. It is not just knowing how to run the cash register, order supplies, or restock the shelves. Staff need to be trained with ‘people skills’ in order to experience success at work. This is more important than ever.

Training people skills isn’t easy and it often isn’t done. However, when staff are trained in these skills not only is employee retention increased, but customer retention and daily ticket sales also increase. This means more profit! Your team needs to be trained in both ‘tasks’ and ‘people skills’ to be most effective.

If you would like an easy plug and play, pop over to the course page, Power of People. In five weeks, you’ll have a powerfully trained team that’s on fire for your business!

Improve employee retention, customer retention, daily ticket sales, and empower your team to partner with you in business!

The course begins soon. Enrollment is open NOW! Don’t miss out on an easy, done-for-you win!

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