Small businesses struggle more than established corporations in building and retaining a strong team. Period! Although the number of employees is significantly higher in the latter case, the retention rate is lower in the former.
Popular corporations attract employees; making it easier for them to hire candidates, full of potential, while small businesses struggle in attracting such candidates and keeping them at the company because even the employees see the benefits of working for multinationals.
What can you offer to keep the employees happy with your brand?
Focus on quality, not quantity
Small business owners need to understand the importance of quality over quantity. They cannot go around recruit ten candidates with little potential in them; instead, they need to hire five candidates, who are capable enough to handle the same amount of work. Hiring by degree, not abilities is what increases their expenses severely; making it impossible for them to offer any other benefits to their employees. Find the right individuals and follow this statement, “keep the number of employees low and benefits high”.
Value each role
This is something that large corporations also lack at times. One should always value each task because the small tasks are as important as big ones to keep your company afloat. Some roles in a small business may seem insignificant to others, but as the business owner, you need to value each position, and only then, your employees will appreciate them too. How would you feel if someone says that your role is insignificant? Not good, right? Your employees will feel the same thing if you do that. Value them to keep them determined and dedicated.
Hire like-minded people
As a small business owner, you cannot afford to hire individuals who don’t think as you do. Your employees need to believe in you and your ideas; only then your brand will grow. This does not mean that you should not allow them to speak their opinions or hire no one who is more experienced than you. However, employ such candidates so that you can improve your business practices and walk right into the big leagues. Keep your ego aside and focus on the growth of the business.
Celebrate successes and failures
The first step that you need to take is to set tangible goals for your employees. This will not only help them achieve the desired results but also enable you to measure their performances. Small businesses need to celebrate successes and failures more often than large corporations because that will keep the employees motivated. Yes, you need to celebrate failures as well. Do that in a way where it becomes a learning experience for the employees, and they strive towards stepping into success bracket as soon as they can.
Look for the long run
You need to work towards achieving success in the long term. Set your goals for future, and measure at each step to make sure you are on the right path. Short-term decisions, grudges and strategies will do no good to your business, if they are not targeted for the long haul. Be focused!
Always be open to suggestions and complaints
If you don’t value the opinions of your employees, why will they want to work for you? Consider their suggestions and complaints, and do something about it. Resolve queries and conflicts as soon as they arise to make sure the internal environment of your business stays positive, and your employees motivated.
You can employ effective team building activities to help them get to know each other better. Organise exciting and engaging work away days to help them shed off stress and feel good about working for you. This will encourage motivation, productivity and communication among your employees, which will enhance your business practices notably.
Small business owners don’t have to possess little minds too! Value them to get valued by them! Your team will get stronger if they trust each other, are comfortable with one another and are dedicated towards your business.
Money is not everything; give them a good reason for staying with your brand!