Your small business is always at risk of having its top employees lured away by the competition. The key is to do something about it before the other side can get to your people. What can you do from day one to make your employees less likely to jump ship?
One of the biggest reasons people move to rival companies is because of compensation. Compensation isn’t all about money, though. You’ll want to provide a competitive salary, of course, but employee stock options or restricted stock units are also great. Offering employees the flexibility to work remotely or in an office in a good location are also helpful. Next, you have to make sure the job is a good one. You don’t want someone on your team who will take any old job. You want someone who genuinely wants to be there. The job should advance the skills of the employee, allowing them to build their career going forward. Finally, and perhaps most importantly, your company needs to have a positive culture. Be clear about where the company is going and what they have to do to get there. Get your team excited about your prospects. Do this, and people will be much more likely to stick with you for the long haul.
Read the full article here: 3 Ways to Defend Your Talent from the Competition
