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Employee retention

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Almost every business manager struggles with employee retention. In fact, losing a valuable employee and finding a replacement will cost a company roughly 30% of that person's salary. That means, for an employee making $70,000 a year, it will cost the company about $22,000 to replace them. Employees often leave due to poor management, lack of motivation, no recognition, benefits, and pay. While you may not be able to pay your employees that same salaries as larger companies, you can retain some of your good employees by following these tips:

Tip # 1 - Recognize them

Employees want to be noticed for their hard work. Take a few moments to walk around the office and recognize your employees. Let them know what you like and offer some pointers on how they can become even better at their job, just be careful not to criticize. Show your employees that you care about them by doing small things like having office parties, providing occasional lunches, and allowing them to leave early onFriday afternoon after a long work week.


Tip # 2 - Proper communication

Communication is essential in any office. If you don't have strong communication skills, you will have confused, upset employees. Always make sure your employees clearly understand what you expect of them and make sure they understand they can come to you for clarification. Get rid of office rumors and other things that can cause a breakdown in communications. Having good office communication makes everyone's jobs easier and it helps to improve the trust in the office.

Tip # 3 - Be a leader

When people like who they work for, they work harder and they are motivated to come to work. Be a good leader to your employees, give them a reason to come to the office and work hard. Show them that you have what it takes to properly run your company. Come in on time and leave late, take short lunches, and do your job. While there is a time for work and play, don't let your employees see you slacking off. When you do this, you are basically telling them that it's ok to slack off at work and they will not be as motivated to do their job. A good leader is trustworthy and has integrity. Always make sure people can see these qualities shine in you along with your confidence in yourself and your decisions.

Tip # 4 - Motivate your employees

Far too often employees will change jobs because they are not motivated. While typing in numbers all day may not bet stimulating and exciting, look for ways to motivate them to do it faster or better. Perhaps you can do office challenges and award a prize for the individual that completes their daily job the fastest. Establish some office goals and reward everyone when you are able to achieve these goals as a team. Listen to your employees and try to find ways to incorporate their ideas into the office. If they are not being stimulated and challenged, give them some additional or different job responsibilities. If all else fails, call them into your office and flat out ask them what you can do to make their job better.

Tip # 5 - Flexibility

Many employees will leave a great job because their work hours were not flexible. Family constraints and other things often cause employees to shift their working hours to accommodate these needs. While you may have some set operating hours, try to be flexible with your working hours. If you trust your employees, offer them the opportunity to do some of their work from home on days when they are ill or cannot make it into the office.

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