How to Improve Employee Retention and Motivation | How to Retain Employees in Small Business
1. Give them an economic stake, notably equity or options -- everyone's an entrepreneur/investor these days, especially key employees!
2. Offer each key employee a way to get around ANYTHING or ANYONE that gets in the way of their creativity, effectiveness or production.
3. Develop a company vision/cause/purpose that is even more compelling than any one individual is -- this bonds key employees.
4. Create an entrepreneurial environment which stimulates without becoming adversarial/territorial.
5. Give each key employee the BEST of every tool, software or equipment -- they need/respond well to these more than the average employee.
6. Challenge each key employee to produce FAR more than they currently are producing -- key employees NEED to be challenged to keep them focused and out of mischief or job searching.
7. Eliminate the power structure and replace it with a strength-based power structure; this in order to reduce politics and simplify structure/management levels.
8. Put the key employees in continuous training, both in their skill set but also in communication/relating/management skills training programs as well.
9. Build up the reputations of each key employee vs being afraid to grant them this visibility/credibility/power.
10. Put the key employees in their own 'club' so they KNOW they are one of the annointed one -- they'll keep paying the 'dues' which is motivating.
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