Employee retention strategies are critical to the health of your company. This is particularly true for smaller businesses, which often don’t have the luxury of employing multiple people in the same role. Every team member is essential.

Having a strong team can give you the confidence necessary to drive your business forward. When a star employee submits their two-week notice, that momentum is shattered.

This can leave you wondering what you could have done, if anything, to keep that employee from looking elsewhere. Think about it: When was the last time you thought about how retention isn’t just about less paperwork and training – it’s a throttle for business growth.

As a business owner or manager, you’re juggling many responsibilities to keep your business running smoothly. Unfortunately, dedicating time to keeping good employees may slip off your daily priorities.

So what can you do to keep your best employees around longer?

8 employee retention strategies that are great for business

1. Don’t rush recruiting and onboarding

Develop a recruiting infrastructure. Making the right hire from the start has a tremendous impact on retention. It starts with defining your talent goals and moves all the way through to development of a strategic onboarding process.

Even if your company is small, you can gain boosts in new hire productivity, engagement and retention just by investing some time in a plan that helps your new hire feel like an important part of the organization.

Despite what you may think, offering your employees a bigger paycheck isn’t going to keep them around for the long haul. Make sure your employees feel valued and can see how day-to-day projects contribute to the greater good of the company.

The goal is for employees to see their role not as just a job, but as an experience that will help them grow and achieve their own goals. In return, you’ll get a more productive worker who is willing to give it their all and has a vested interest in the success of your business.

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