Australians are a hard-working bunch, but despite our dedication to our careers a huge amount of us want to quit our jobs
As a small business owner, the thought of one of our few essential staff members leaving can have us quaking in our Havaianas.
Because while you might have an incredible product or service that is the answer to a problem facing thousands of people, you need a strong team in place to help your business run smoothly and grow.
There’s few things as costly as a good employee leaving, and that’s why retention is so important.
Here are five things you can do to keep your finest team members happy and working hard for you.
1) Appreciate them – and make sure they know it
The best things in life are free. That’s why there’s nothing more powerful than genuinely appreciating your staff and what they do for you. Send regular emails to your staff to recognise a job well done, or take your team out to lunch on a Friday afternoon or give them an early mark as a reward for continued hard work. Whether you want to spend money or not, there are plenty of small, easy things you can do to show your team you appreciate their work.
2) Don’t overwork your staff
Overloading your employees is one of the more surefire ways to create unhappiness amongst your team. While you want a healthy work ethic within your team, putting too much on their plate can burn them out and cause them to look for other jobs. Be conscious of stressed out workers and look for solutions to help lessen the weight of tasks on each employee. One way to do this is to hire staff when the workload demands but before your revenue can accommodate it. consider an unsecured line of credit that can help you manage your staff easier by giving you more hiring flexibility.
3) Treat them as equals
Don’t let job titles and pay packets determine how you treat the various people in your employ. If you treat your employees with respect, they’ll feel valued and respect you and your small business by continuing to work hard.
4) Share your vision with them
Your employees deserve to know where the company is going. Make an effort to be transparent when it comes to the direction of the company. Are you looking to secure small business funding to expand? Have you had a particularly good quarter? Keeping your workers in the loop on the bigger picture will make them feel like they’re part of the company as a whole instead of individuals working amongst other individuals.
5) Pay your employees what they are worth
This is probably the most obvious, but no less effective, method of retaining your best employees. Making sure you are paying your best team members a competitive wage within the industry in which you operate is an important aspect of showing them you appreciate their value.
Retaining your best employees is one of the most important parts of providing your clients and customers with quality service on a consistent basis. If you think you could benefit from a small business line of credit to help keep your team happy, don’t hesitate to contact the experienced professionals at Kikka Capital today. You can apply online and be assessed for up to $100K of unsecured funding in less than 10 minutes. Check it out today!