There are times where a startup has a great product but the real value of the startup is in the employees that work there. The right team can turn nearly anything into a success so building this team is imperative. A proactive approach of hiring the best employees possible is great but retaining these employees is equally if not more important. Take care of your employees and they will regard the company as a positive aspect of their life which will reduce the likelihood of them jumping ship. The following are ways to take care of your employees!
Startups might not always be able to throw money at an employee who has just gotten a better offer. What can be done is to make this employee as happy as possible with perks. The best perk for many professionals in today’s world is the ability to work from home permanently. Obviously not all positions can do this but those in positions that are able to should be offered. With this being said, if production dips while they are working from home it is in the company’s best interest to eliminate the perk for this employee. Small fluctuations are natural but a dramatic drop in production needs to be addressed immediately.
Implement Appropriate Safety Measures
The last thing that you want to do is go to court with a former employee that has a star personal injury attorney. This type of situation not only can hurt the reputation of a startup but it can cause the startup to have to declare bankruptcy. The best solution to this situation is that of prevention as certain safety precautions being practiced not only will reduce liability but also the likelihood of an accident. Regular safety trainings need to be scheduled as well to remind employees of what should be done as well as to teach newer employees safe ways to work. There should be literature as well as a weekly safety reminder as people frequently forget reasons for doing specific things.
Promotions Should Be Based On Merit, Not Time With Company
The appeal of working at a startup for many people in today’s world is that professional mobility is usually more flexible than at more established corporations. Being able to advance your title without putting in decades of work attracts many people to the niche of startups. Do not give promotions simply because a person has been at the company the longest as this sets terrible precedent. The best thing when considering employees for a promotion is to list out a variety of things. First should be the tangible things whether it is sales numbers or never coming in late/calling out. Once these have been evaluated then personality and other personal qualities need to be examined. If a person has awful interpersonal communication skills a promotion leading a few dozen people might not be the best fit.
Take care of the employees that you have and this will increase employee loyalty as well as reduce employee turnover. Do not treat employees like social security numbers as this does not build rapport and is just asking for employees to leave freely.