Page 16 - ilovepdf_merged (20) edition 66_Neat FLIP BOOK
P. 16
Jan-Feb, 2021 Page 11
EXISTING BUSINESS Mistakes that Give Your
OR Employees Reasons To Leave
STARTUP? etaining your best
employees is
Continued from pg 10
Rimportant for your
business is healthy you can
business. Be sure you're
probably qualify for a bank loan. not giving them reasons to
(By the way… this is a bad idea… leave by avoiding these
Stay away from debt!) seven mistakes.
Employee retention is control, but sometimes the
Trends important for small reasons they leave are
· Startup: A startup is businesses because of the related to mistakes you
high cost of recruiting may be able to correct.
incredibly flexible and can
employees and because of
adapt fast to quickly changing the negative impact the Here are the top 7 employee
market trends.
loss of a key employee can retention mistakes
· Existing business: Watch
have on staff morale and employers make and what
out for business that are for customer relationships. On to do about them.
sale. I've coached many top of that, when an
investors in the past where employee you have trained 1. You aren't paying
they are excited buying a leaves, it feels like a slap in enough
“good deal” when in reality Yes, you're a small
they are walking into a trap business but your
where markets are shifting or employees are working to
being disrupted by new pay the bills, put food on
technologies. the table, and build a nest
egg. Other factors are
Hector Quintanilla important but money is a
primary motivator. For
employees that prove to be
valuable, pay market rates
“There is or above as soon as you
can.
nothing more
the face! Is it understandable that
beautiful than you're a small business and
You tell them how valuable don't have a large budget to
someone who they are but by the time pay what the major
they submit the letter, you corporations pay? Yes, but
goes out of know that it's nearly asking somebody to accept
impossible to get them to less money than they can
their way to stay. make elsewhere isn't
Regardless of how good of a inviting a loyal, long-term
make life manager you are, Continue on pg 12
sometimes employees are
beautiful for going to leave. Often, their call us on:
departure stems from 020 8131656
others.” factors outside of your 055 6533307
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