Employee Retention Strategies for SMEs

Employee Retention Strategies for SMEs

Recruiting employees is expensive and time-consuming. Losing good employees can be even more costly. Many small business owners focus heavily on recruitment but spend far less time thinking about employee retention. Yet every resignation can result in recruitment costs, training costs, reduced productivity, lost knowledge and increased pressure on the remaining team. While salary will always play a role in an employee’s decision to stay or leave, research consistently shows that employees often leave because of management issues, limited development opportunities, poor communication or a lack of recognition. The good news is that many of the factors that influence employee retention are within an employer’s control. This guide explores practical employee retention strategies that SMEs can implement to build a positive working environment, improve engagement and reduce unnecessary staff turnover.

Why Do You Need An Employee Handbook?

Why Do You Need An Employee Handbook?

When your Employee Handbook carefully spells out your employment policies misunderstandings will occur less frequently and if an employee does get confused about your expectations then resolving that confusion will be straightforward. Carefully written employment policies supported by clear guidance notes for your management team will ensure decisions are made consistently across your business.

But if your Employee Handbook is gathering dust on a shelf or in a draw in your office then your business could be at risk!

Top Tips To Recruiting Your Next Employee

Top Tips To Recruiting Your Next Employee

When you are recruiting, whether it’s your first employee or you are adding to your team, it’s really important that you get the right person.

When I’m talking about recruitment I always recommend a little planning and a simple consistent process that can be followed each and every time you recruit.

Here are my 12 Top Tips to Recruiting New Employees in a small business.

Performance Review Process

Performance Review Process

The Performance Review Process is a vital tool to improve performance but is also useful for harnessing commitment from your employees. So, if you don’t have a Performance Review Process your employees are being held back and that could make the difference between the success and failure of your business!!!

Read my Top Tips to introducing a successful performance review process into your business.

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