The job market has become more volatile than ever before following the COVID-19 pandemic. People have broadened their horizons when looking for work, deciding between remote and in-person jobs. This means businesses have a lot more to think about when hiring, and they need to work harder to maintain the talent they already have lest they go somewhere else.
Small businesses need to work especially hard to keep their employees satisfied. From providing popular health insurance to giving competitive wages, we’ll talk about all of the best tips for small businesses to keep the lifeblood of their business going and continue to grow and flourish.
We’ll also talk about some of the more emotional and social aspects of retaining talent, like providing paid time off and treating everyone in the office with respect and recognition.
#1 – Make Wages Competitive
A worker’s annual salary is almost always one of the top priorities taken into consideration during the hiring process for both parties involved. For a person being hired, they need to know their salary is not only competitive, but it symbolizes their worth to the company.
Many young people get frustrated with their lack of salary early in their careers. This discourages many talented people, and they toil away working jobs they shouldn’t have to.
If you are a small business owner, you can get a leg up on other companies by paying your workers what they are worth no matter what their age or experience level is. Going strictly off their skill level is the best way to calculate and come up with a fair salary.
Giving raises based on time spent with the company is also warranted. This shows loyalty between both the company and the worker. Everyone understands that with hard work and excellence comes deserving rewards. This will make everyone do their job at a higher level at the company’s top and bottom.
Consider giving performance bonuses and better pay on holidays. Many companies do time and a half working on holidays, but you can do even better and offer double pay on those days. Showing your employees you recognize their sacrifices is a great way to gain their trust and make them feel like they are more than just employees.
#2 – Consider Your Employees’ Happiness
There are many ways small businesses can separate themselves from the competition and attract and retain their employees that go beyond pay. Bosses should think about the types of lifestyles their employees have and how they can improve their workers’ abilities to enjoy work-life balance.
Many millennials want to bring their pets to work. As long as animals don’t detract from the work experience, or hinder anyone’s ability to do their job at a high level, this is certainly something to consider implementing into your workplace.
Take a survey and see what other things your employees would enjoy having around the office. If they want more time to eat lunch outside of the building, perhaps with coworkers as a bonding experience, this is vital for everyone to enjoy.
Participating in group activities like eating seems like common sense to put into your day, but many bosses don’t allow much time for everyone to eat together outside of work. Come with your workers to the restaurant so they know you’re interested in joining in the conversation and becoming more engaged in their lives.
#3 – Allow For Hybrid Work Environments
With the pandemic entering a new phase where people are going back to work in-office, this has made some people who became comfortable working from home unhappy. Remote work allows for folks to be more involved with their families, run chores during the day, and exclude the frustrating drive-through rush-hour traffic daily.
As a small business owner, you should consider every worker’s opinion on remote work. If some people would feel more comfortable continuing in this model, or switching to a hybrid one where they split time between the office and home, come to an agreement that works for everyone.
Small businesses have to be flexible with their staff to separate themselves from bigger companies. When you run a small business, you can often beat the bigger competition by offering creative and stimulating work environments, ones that don’t wear employees down.
Being more understanding of a worker who needs to be home with their kids because they are sick is a great way to show you care about your workforce as people.
If you run a small business that requires more in-person participation, such as a restaurant, remain aware of your workers’ needs. Allow them to bring their kids to work when they don’t have a babysitter, for example.
#4 – Give Great Benefits
Health insurance, sick leave, and paid time off is more important than ever. Sometimes these benefits are the most important factor in keeping your employees happy. They have families they need to take care of, after all.
Going through a place like Aetna for insurance will give your employees benefits like health, dental, eyes, and even life insurance. This is a huge way to show your workers you understand all of their needs and in turn, they will be happy to stay with your small company.
#5 – Be Inclusive and Diverse
With so many different kinds of people looking for work in 2022, it’s vital that inclusivity and diversity reign supreme in a small business. Large corporations are scrutinized for how they handle things like sexual harassment, racial profiling, LGBTQ+ discrimination, and more.
Small businesses can show they provide a progressive element that isn’t cared for in larger environments. Learn about how diversity in your workforce makes the company stronger. Encourage gay workers to display their same-sex spouses proudly throughout the year.
Go beyond the pride month social media posts that are so common in June. Support black and brown employees when they complain about customers treating them differently because of their race. Performative action isn’t good enough. Year-round devotion to diversity will help retain all of your employees.
There are so many different elements of the small business hierarchy that help it run smoothly. Your employees are the lifeblood of your business. You can retain them by proving their worth with tangible rewards and support every step of their careers with your company.
