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The Keys to Retaining Your Top Talent
Whether you are starting a small business or running a global corporation, your employees play a large hand in shaping your success. As a start-up, you may face challenges in retaining your top talent when larger competitors have leverage over what they can offer, but that’s where creativity and communication enter the equation.
Shifting workplace culture is favoring flexibility, work/life balance, and alternative methods of achieving productivity. Colin Darretta, a former investment banker turned start-up founder, said, “The key is looking where those big companies aren’t.” When seeking talent, look for the people who took unconventional paths to get to where they are and spend one on one time with your staff while participating in activities that they enjoy.
In an 11,000 person survey conducted by Randstad USA, the data showed that almost half of respondents stay at a company for work/life balance. On the other hand, the number one reason employees leave is due to lack of growth opportunities and an unclear career path.
Since small businesses have the advantage of being closer to their employees, owners can easily find out what their team values most and maintain transparency in the workplace.
