8 Tips for Hiring and Retaining Good Employees

As a business owner, your greatest assets are your employees. You may have the best equipment money can buy and more leads than you know what to do with, but if you don’t have the right team in place, you are not going to be able to stand out against your competition.

In today’s marketplace, you are not only having to compete for customers, but you also need to compete for loyal employees. According to Trading Economics, The US unemployment rate edged down to 3.8% in February of 2022 from 4% in the previous month, a new pandemic low and below market expectations of 3.9%. It seems like everywhere you turn, there are “Now Hiring” signs and not enough people to fill the job openings.

How do you hire and retain the best of the best?

1. Have a solid onboarding process. Introduce new employees to the entire team, set them up with some sweet swag, make sure they have the proper training and equipment to do their job well, and offer a good benefits package. If they feel that they belong and are appreciated, they are likely to stick around for the long haul.
2. Recognize their strengths and set them up for success by allowing them to utilize their gifts and talents. If they are really good at networking and customer service, put them in a customer-facing role and give them the opportunity to interact with other people. If they are strong on the technical side of the business, but aren’t good with customers, give them the more complex technical tasks.
3. Employee appreciation. Yes, you pay your employees for the work they do, but it’s important to express your appreciation for their contributions to the success of your business. Employees are happier when they feel appreciated. Don’t fool yourself into thinking if you pay them well, that’s enough to keep them satisfied and loyal to your organization.
4. Communication, communication, communication. Make sure your expectations are very clear from day one. There is nothing more frustrating than thinking you are doing a good job and then find out that you are missing the mark entirely. Tell your team what you expect from them. They should never be surprised to find out they messed up.
5. Build trust by giving them responsibility. If they feel they have autonomy, they will take ownership and will take pride in the work they do. If they don’t feel like you trust them, why should they be loyal?
6. Team-building. Take the team to a ballgame, have a company BBQ, volunteer for a community service project, go to an Escape room, do a 5K together, or even just take everyone to Happy Hour. You all work hard and it’s good for morale to have some fun together, especially if it involves friendly competition.
7. Invest in ongoing training and development. Let your employees know that you want to help them grow. It’s mutually beneficial for them to take classes and keep up with current technology, trends, equipment and techniques. They not only improve their skills, but they will appreciate that you are investing in them and can take what they’ve learned and share with the entire staff.
8. Have an open door policy. Make it clear that you are open to hearing feedback from your employees. They are the ones out in the trenches every day and they know first-hand what customers are saying about you, about your competition, and about their needs. Let them know that you value their input and take it into consideration when making decisions.

The bottom line is that employees who are challenged, appreciated and invested in, will stick around and give you their best.