In a previous post, we discussed how you can go about finding the right talent for your startup. When you operate a small business, every single employee will play a major role in the success or failure of your business. Creating a close-knit team of engaged employees will go a long way in creating a truly successful business. Once you have hired the key players you need, your next goal will be to retain these employees.

As a company that works in startup consulting in Columbus and surrounding areas, we have seen how detrimental it can be for a small business to continually have a revolving door of employees. This turnover is costly and can take a toll on your company morale. If you have been facing a high turnover rate at your startup or you simply want to prevent it from ever happening to you, check out these key tips for keeping quality employees.

Hire Trustworthy Employees And Let Them Shine

When it comes to operating a successful small business, it is vital that you hire people who are capable of working independently and are motivated to help your startup succeed. If you have found these key players, it is now time to let them shine. One of the fastest ways to push away good talent is to micromanage them or restrict them from the ability to innovate and grow.

Make sure that when you hire trustworthy employees, you actually then demonstrate your trust in them. If you find yourself constantly second-guessing everyone’s decisions, you will soon find yourself without those decision makers around. This becomes particularly important as your business grows and you have to start letting go of tasks that were once yours. While it can be hard to let go of control, the best way to retain successful people is to simply let them succeed.

Take Time Out To Listen To Your Staff

Want to know how your employees are doing? Interested in learning more about what frustrations your team is facing? The best source for this information is found in your employees. Make sure you take out the time to truly listen to your employees. Set up one-on-one meetings with your staff and listen to their feedback.

Make sure that if you are asking questions, you are willing to listen to the answers given. Your employees will know whether or not you are sincere in your desire to learn from them or if you are just doing it for show. Be sure that you are willing to hear any and all feedback before you embark on asking for it.

Stop To Take The Temperature On Your Company’s Culture

As your company grows, it will be important for you as the leader of the business to constantly take the temperature on the company culture. Look back on what you wrote out as your company’s culture goals and see how you are matching up.

If your startup is developing a negative culture or a toxic environment, address the issue right away. When you don’t take control of your company’s culture, you run the risk of it growing in the wrong direction.

Make Sure Your Employees Have A Vested Interest In The Business

When you hire people who are driven and talented to help you grow your startup, they will be people who need to feel like they have a vested interest in the company’s success in order to want to stick around. If your strong team members do not feel engaged, they will eventually leave in pursuit of something that does allow them to have a reward for their hard work.

You can help cultivate a desire in your staff to see the company succeed through a myriad of methods. You can offer equity in the business, you can offer bonuses for goals met, or you can provide a high-value reward for meeting benchmarks along the way. Make sure that whatever system you set into place, you follow through when those goals are reached.

Utilize A Mentor To See Your Own Flaws

One of the number one reasons a startup loses employees is because of bad leadership. The old adage “people don’t quit jobs, they quit bosses” is highly accurate. If you notice a high rate of turnover at your small business, take the time to consider whether or not something you are doing is creating this cycle.

This is where a mentorship is extremely beneficial. A mentor can help you see flaws in your management style that you might be blind to. Look for a mentor who will provide constructive criticism with actionable advice. Make sure that you are open to hearing this criticism as it could very well be the thing that allows you to keep talent in your company for years to come.

Reach Out For Startup Consulting Services

If you are in the early stages of running a small business, nothing will be more beneficial than reaching out for expertise and help. We provide startup consulting services in Columbus and surrounding locations for business owners who want to learn more about how they can make their business successful. From helping you create a business plan to launching your startup to determining new ways to grow your company, we can help set you on the path to success. Reach out today to learn more about how we can work with you to grow your idea into a successful business.