Entrepreneurs: Keep Your Best Employees On Your Side
Entrepreneurs: Keep Your Best Employees On Your Side

Entrepreneurs: Keep Your Best Employees On Your Side

Handling hiring is hard enough for small business owners, but that’s only half the battle. The fewer employees you have, the more important their work for you is. And even more important is the need to retain them and have them stay with your company as you grow.

A small core group of employees serves as a foundation for a small business. A portion, if not all, of that group will rise to the challenge of building your company’s identity and philosophy for the future. Those dedicated people are of immense value, but it’s up to you to create a workplace that will keep them invested, motivated, and—most of all—happy.

How can you keep the best employees on your side as you grow and change? These tips can help you along the way.

Create a dynamic experience

A small company offers its employees both challenge and opportunity. Because your business can’t always hire someone new when there’s a need, some employees are going to end up wearing many hats. Obviously, you have to be careful not to ask too much of the people who work for you, but giving them a chance to apply their talents in different ways can serve as a real perk.

Offering chances for employees to lend their talents in different departments or company endeavors keeps the working experience from becoming stagnant. Give your employees fresh challenges every so often and show that you’re invested in their growth as well as your company’s.

When people aren’t being limited to a narrow range of responsibilities, they can feel a greater sense of ownership in your business. It empowers them, builds greater trust between you and your employees, and creates a better corporate culture.

Make it feel like family

Speaking of the corporate culture, one of best advantages small businesses have in the hiring world is their ability to create an admirable and—dare we say—fun environment to work in. That’s because having 50 or fewer employees means almost everyone has had a chance to develop a relationship with the rest.

Manger-employee relationships are an enormous factor in employee retention and possibly the single most important one. As a small business owner, you can’t help but be directly involved in a lot of your company’s operations—thus, the better your relationship is with them, the less anxious about working alongside you and less worried that your presence means they’ve done something wrong.

But more than that, it’s about making the workplace welcoming. Try to do things together in the off-hours or, better yet, organize something casual and fun to be done on a half-day Friday. Have frequent meetings that are conversational and open to suggestions from all employees. Doing things like these don’t just make your workplace more relaxed, it creates a place where your employees feel like they belong.

Offer creative benefits

Giving your employees challenging opportunities and a comfortable corporate culture are benefits in their own right, but traditional ones are quite important for retention as well.

The size of your business means your employees should understand that you can’t offer them the full package, but a lack of paid time off or cash bonuses can be sticking points for an employee deciding whether to stay or go. It can be costly, so getting creative can be to your benefit as an owner.

Paying wages for certain times spent out of office is one possibility, whether it’s for employees going to a company event like mentioned above, community service, or special training. Then combining that with half-day Fridays, perks like health club memberships, partial compensation for continued education, or occasional catered lunches can make up for the fact you can’t afford to provide full health insurance or two weeks of paid vacation a year.

Small business owners have a lot on their plates. Contact Paycor to learn how we can help clear off those plates and allow you to spend more time running your business, or check out some of our other articles for entrepreneurs.


Sources: Gallup, Smallbiztrends.com, The New York Times, Forbes


Subscribe to Our Resource Center Digest

Enter your email below to receive a weekly recap of the latest articles from Paycor's Resource Center.

Check your inbox for an email confirming your subscription. Enjoy!

More to Discover

Paycor’s Top 5 HCM Technology Trends of 2019

Paycor’s Top 5 HCM Technology Trends of 2019

We want to make sure you’re prepared for the trends that will shape the HCM technology space and your role in it. In this webinar, HR and Benefits expert, Brian Craft will share his perspective on how leveraging these trends can drive employee engagement, increase productivity and allow you to make smarter decisions directly affecting your bottom line. Speaker: Brian Craft Brian is the Group Product Manager for HR and Talent at Paycor where he guides the vision and execution for high growth of Paycor’s HR, Benefits and Talent product portfolio. He leads a team of product managers and is partnered with talented designers and engineers to deliver the best human capital management solution for small and mid-size businesses.

Why Diversity in the Workplace Matters

Why Diversity in the Workplace Matters

The latest research from the likes of McKinsey and the Harvard Business Review reveal that companies with diverse workforces are more profitable and have greater chances of attracting and retaining top talent. Still, many organizations have been slow to develop inclusion strategies primarily because they’re unsure how to promote and execute these initiatives. Start from the top In McKinsey’s research, they found that companies with the most diverse executives are 33% more profitable. Diverse management teams promote more innovation because individuals from different backgrounds with unique minds and ideas can come together and share input based on past experiences. If you’re looking to optimize a process or solve a lingering issue,...

Warning Signs of Disengagement

Warning Signs of Disengagement

Four out of five medium and small businesses say they don’t effectively engage their employees. Why? Because many organizations lack ownership and the resources needed to understand what actually motivates their people. Organizations also tend to ignore the warning signs of disengagement believing a few unhappy employees can’t sway the masses. But similar to bankruptcy, disengagement happens gradually and then before you know it, the majority of your workforce is affected. Only 33% of employees are actually engaged at work, according to a Gallup study. Not only can disengagement quickly spread throughout an organization, but its impact is felt across all areas of the business. From lost productivity to affecting morale and even customer...

How to Create the Ideal Employee Experience

How to Create the Ideal Employee Experience

All companies covet an engaged, motivated workforce. When your people are engaged, they don’t behave like an average employee. They’re more like committed volunteers devoted to a mission, always seeking new opportunities to boost morale and make a difference. It’s no surprise then that, according to DecisionWise, in 2017, 73% of executives said employee engagement was a top concern. Yet Gallup’s annual survey of engagement continually finds that only 1/3 of employees are engaged at work. Most (51%) are not engaged and, even worse, 16% are actively disengaged. With so many companies focused on engagement, why don’t we see better results? A primary reason is that not all companies focus on the employee experience. Everything from...