There are many different approaches business owners can take to keep their employees happy. Keeping the break room stocked with snacks, providing stock options, planning company outings – there are many incentives you can offer those who work for you.
As a small business owner, retaining the employees you have is even more important when you have so few. Their happiness and commitment to your business can make all the difference how successful you will be long-term. To help, here are 6 secrets to retaining your employees and keeping them happy:
- Keep Communication Open
Keep your employees in the loop about how your business is performing. They will appreciate your honesty about the status of the company. Hold meetings regularly and invite your employees out to lunch or after work to discuss current happenings.
- Keep the Work Environment Flexible1
Many small business owners provide employees with laptops and smartphones to stay connected. This allows employees more freedom to work remotely. 64% of small business owners report that offering flexible, mobile, and remote work options has helped them in hiring and retaining employees. By creating a work environment that is collaborative and flexible, your employees will appreciate it and your company can stay competitive in the market.
- Ask Employees for Input
Surveying your employees and asking about their satisfaction in the workplace is extremely important. Ask if they have any feedback or suggestions about methods of improvement. Create a survey or leave a feedback box where employees can make their ideas known. Recognizing employees and encouraging their opinions will strengthen your overall relationship.
- Create Opportunities for Growth2
Moving up in a small business is much different than getting promoted at a large corporation. However, you can constantly challenge your employees and motivate them by creating unique opportunities. Set long-term goals for your employees and create new responsibilities over time.
- Reward Employees Often
Achievement and recognition are motivators for employees. If your employee does something outstanding, works overtime or is consistently impressive – reward them with a token of appreciation. Whether it is a gift certificate or a day off – it never goes unnoticed.
- Offer Benefits Beyond Benefits
The salary and benefits you can offer employees in a small business are much different than a large corporation. Showing an interest in your employees’ health, lifestyle and family is a great start. Perks like gym memberships, paying for transit and offering a flexible schedule lets your employees know you are invested in their personal lives outside of work.
1 Zipkin, N. (7 February 2014). The secret to keeping employees happy (Infographic). Retrieved October 10, 2014 from http://www.entrepreneur.com/article/231370
2 Alton, L. (2014). 6 ways small business can retain their best employees. Retrieved October 10, 2014 from https://www.care.com/a/6-ways-small-business-can-retain-their-best-employees-1407030959