How Small Businesses Can Attract and Retain Employees
Small business administrators are typically among the most competent multi-taskers, but even the most talented jugglers occasionally end up with too many balls in the air. Attracting and retaining employees doesn't have to be part of your juggling act; in fact, having the right team can make the rest of your business run smoother.
As a small business administrator, you may wear many hats, such as running the front desk, ordering supplies, managing accounting, onboarding and more. When you have extra hands to allocate the work, your business is likely to be more efficient and productive. Make employee retention a priority for your business with these practices:
Create a positive work culture
When employees enjoy coming to work each day, it shows. Your customers recognize it, and your internal team can feel it, too. A positive work culture encourages excellence, forgives mistakes, and leaves plenty of room for having fun. You can create a positive culture by making sure expectations are clearly defined and giving feedback that is consistent and fair.
Provide an appealing salary and benefits package
A competitive salary that aligns with expertise is an obvious edge in hiring top talent. You can become a more attractive employer by offering a benefits package that includes paid time off, insurance and other extras.
Voluntary benefits, such as those provided by Unum and Colonial Life, offer customizable solutions for businesses and their employees. These benefits can provide flexibility to employees by catering to certain stages of life and lifestyles and to employers by offering various funding options like 100% employee-paid or employer-employee shared funding. With low premiums, many small business owners can achieve significant returns and invest in benefits to attract talent and retain loyal employees.
Allow for flexible schedules
In large part due to the pandemic, employees have learned to juggle their work and home lives like never before. The businesses who recognize this need have an edge, particularly for employees who need flexibility to care for family members. The degree of flexibility you can offer may vary depending on the business model. Communicating with your employees and working to make reasonable accommodations can go a long way toward attracting strong candidates and retaining current employees.
Provide opportunities for growth
Employees typically look for opportunities to learn and grow through additional responsibility, compensation and rewards for performance that encourage long-term commitment. Working with employees to understand their career goals is an important step on a path for growth that is mutually beneficial.
Find more solutions to help small businesses at Unum.com and ColonialLife.com or download The Essential Small Business Benefits Guide to learn how to add voluntary benefits to reduce total benefits costs.