No matter how much you’ve invested in your business, if you don’t treat your employees the right way, your business is going south.
Your employees give stature and representation to your business. Sometimes, due to some reasons, your employees might leave you. They use your company as a launching pad and leave for greener pastures.
Here’s a guide that will help you in retaining your employees:
1. Appreciate Your Employees
If your employees do some work that is worth appreciating, never shy away from complimenting them or giving them a thumbs up.
You have no idea how much they wish to be appreciated. And your kind words of appreciation can go a long way.
When they’ve done good work, utter words of encouragement.
2. Increase Their Responsibilities Slowly
If you give your employees responsibility after responsibility and also let them know that you trust them with the crucial tasks, they won’t think of leaving your company.
Giving them too much responsibility at once can be over-burdening for them because that would stress them out, and eventually, they will leave you. So, as a manager, you have to strike the right balance between the two extremes.
You can make them supervise a critical event, or make them in-charge of a team, all of this will boost their morale, and they will think twice before moving on or switching elsewhere.
3. Treat them with Dignity and Respect
Every person wishes to be treated and talked to with respect. Studies by the Harvard Business School show that most people leave their companies because someone (a senior person) said or did something disrespectful. So, if you treat your employees with honor and respect, they won’t think of leaving you.
4. Give Them Financial Incentives
If you pay your employees well, that is, higher than the prevailing market rate, your employees won’t leave you.
If your employees see that you are sharing your revenue with them, they will feel a sense of appreciation, which will stop them from leaving you.
Also, most employees leave their jobs in search of better financial incentives. Therefore, if you eliminate their desire to search for better incentives, they won’t leave your company ever.
5. Allow Them to Grow
If you give your employees space and opportunity to learn and grow, for example, giving them opportunity to learn new things, acquire new skills, they would never leave you or your company.
At Venture Studio, we provide team building and team consulting trainings to business owners and their employees. These trainings will help your team grow professionally and meet your business goals.