How is your new year going so far? Do you have everything on track? Whether or not the answer to that question is yes, we thought you’d appreciate some recent small business insight from around the internet. From employee creativity to new tech snags, here are some small business blog posts we liked this week:
Now that you’ve hired your amazing employees, how are you going to keep them on board? After spending the time training and developing them, it’s not usually fun to lose them – and not fun for the employee either.
Here are some ways you can improve your employee retention:
Pay employees fairly, in line with similar jobs on the market.
Give bonuses or rewards in recognition of hard work.
Develop an employee handbook so everyone will have written records of company policies like employee benefits packages, employee responsibilities, safe working condition requirements and performance assessment information.
The best piece of advice from experienced entrepreneurs
Don’t you wish other entrepreneurs could give you advice on making employees happy? Today’s your lucky day! When we asked experienced entrepreneurs what their best piece of advice would be for budding entrepreneurs, many of them talked about performance assessments. That’s when you meet privately with each employee on a regular basis to discuss expectations and performance, discussing possible areas for additional training, development or rewards and recognition.
These private meetings are a great environment for open communication where you can listen to any concerns your employees may have. Make sure that your employees can approach you with concerns, ideas and questions. This is a great chance for you to be a good leader and make your employees truly happy.
At GoForth, we’ve been enthralled by this video illustrating Dan Pink’s TED talk on what motivates us:
Not to ruin the ending, but as providers of entrepreneurial education – and entrepreneurs ourselves – we love the idea that money isn’t necessarily the best motivator in the workplace. This is great news for small business owners – save your money! Favour purpose over profit and get creative with ways to inspire your employees!