Employees who leave abruptly definitely can hurt the company’s growth, especially during the early stages. Finding a replacement, training them can cost a lot more than time and money. It might affect other employees and trigger negativity at work. So, here is what a smart business owner would do to prevent employees from leaving:
- Make sure you are hiring selectively from the beginning. Consider things like diligence, attitude and integrity amongst other things like academic qualification, skills and experience.
- Pay them right. Keep a tab on industry compensation standards. Structure the bonus and benefits well.
- Offer flexible work schedules. Ensure employees are well prepared to do what their job requires like travel, late nights, vacations and so on.
- Provide comfortable work environment and culture. Provide ample training and support new hires till they can manage on their own.
- Be generous with praise and recognition. Uncover strategies to reward employees when you cannot afford to do it with money. A simple thank you or a well-done note could do wonders!
- Give a career road map. Specify what they need to do to achieve the next milestone. Never deny acknowledging when someone meets their goal.