Nowadays, retaining good employees may be difficult. According to the nonprofit’s survey, the top two concerns for small business owners are hiring the right talent (60.7%) and retaining and motivating employees (33%). RESULT.
Study with Society for Human Resource Management found that finding a substitute costs a company an average of six to nine months of an worker’s salary – and Gallup The survey found that more than half of employees who left said their manager or organization could have done something to prevent it.
But what does it actually appear like to prevent a mass exodus of talent?
Learning from the examples of some of the most successful billion-dollar corporations in the world can really repay. Although they have many more resources at their disposal than the average small business, many of their strategies Down translate – and it could mean the difference between keeping or losing one other great worker.
Online lending company for small businesses On board compiled a list of the best storage methods from corporations like Google, Netflix, Walmart, Whole Foods and more. From coaching and mentoring employees on their path to leadership positions to enabling them to work remotely or hybrid, there are many ways to show your employees your value.
Check out the OnDeck infographic below to learn what it takes to make your employees stay:
Photo credit: Courtesy of OnDeck