How to: Excel at Employee Retention, Part II

This is Part II of an article which will help a business owner with one of the most important aspects of their business. This is exactly the type of question we help answer at FranNet of Midamerica.

How to: Excel at Employee Retention, Part II


You’ve hired the best employees and now you have to find a way to keep them. Employee turnover costs your small business time and productivity. Here is part two of a list of ways to keep your employees. 

• Keep the lines open. Employees should have a regular chance to offer ideas and ask questions. An open-door policy encourages employees to be open with managers without fear of negative consequences. 
• Managers should get involved. Have them coach employees, help top performers move to new positions and correct poor performance. 
• Show them the money. Financial rewards such as stock options for employees who meet performance goals, meaningful annual raises or bonuses when employees meet specific performance goals are ways to retain employees...

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