4 Ways to ensure employee retention for your small business

Whatever business you own, your employees are key to your survival. Without them, no one will be able to sell your products and services, and provide significant customer experience insights. However, they are often neglected or overlooked by companies, and not at all seen as a valued asset.

And at a crucial time such as the COVID-19 pandemic, it’s not enough to find ways to reduce workplace stress. You have to find ways to retain your employees. Doing so not only saves you money, but it also guarantees that you have a workforce with ample knowledge and experience to keep your operations going.

So how can you retain your employees? Here are some employee retention techniques that could work for your business:

1. Compensate competitively

According to statistics, more than three million people quit their jobs every month due to compensation issues. And now that we are in the middle of a pandemic, paying your employees well is more important than ever.

Failing to give employees due compensation or a raise can push them to jump ship. And when they do, you will have to spend time and money in hiring and training a new employee — something that you could have avoided by doling out the payment your former employee deserved.

Remember that decent compensation and raises, no matter how small, can help your employees feel valued, which can convince them to stay in your company.

2. Allow flexibility

Allowing your employees to set their own work schedule can significantly help with retention. For instance, some of your employees may want to come in at a later time because of illness or personal errands. Or they may want to work from home to avoid transportation or weather-related inconveniencies.

Allowing your employees to be more flexible, especially during this pandemic, not only reduces their stress, but it also makes them feel appreciated. In fact 76% of employees say they're willing to stay with their current employer if they're allowed to work flexible hours.

3. Encourage time off

While this may sound counterproductive, encouraging your employees to take some personal time off is actually helpful. Time off from work helps lower the risk of burnout, especially now that the lines between your remote workers' professional and personal lives are blurred.

For instance, if an employee has been exerting extra effort in doing their tasks, encourage them to take a few days off to take their mind off work. This doesn’t just help them maintain mental health, but it also promotes positive work-life balance.

4. Provide the right technology

It’s essential for businesses to keep up with technology so they won’t be left out by the competition. Your employees also need the right technology to do their tasks properly. This is especially true for millennials, who are expected to make up 75% of the workforce by 2025.

In fact, 16% of Gen Z and millennial employees have walked away from their job due to the lack of ample technology. Having grown up during the smartphone and social media boom, their technological expectations in the workplace are high.

Ensure employee retention by staying updated with the latest technological innovations and tools that can help employee productivity. For instance, your business can use tools such as augmented reality cameras to onboard employees with minimal risk to them or to your operations.

Provide your workforce with the right technology by partnering with a reliable managed IT services provider like USWired. We will maintain, monitor, and administer your IT infrastructure 24/7/365. To see if your San Jose or San Francisco Bay Area business is ready for managed services, download our FREE eBook today.