Startups can have a hard time with employee turnover. It’s a cause of high expenses because you must invest money, time, and effort in employee recruitment. That’s why you should take into account some considerations when hiring new employees and some strategies to retain employees. Company retention is also a measure that speaks of a company’s reputation, something that a startup must take care of to give a good impression and maintain.
Best Strategies to keep your employees from leaving
Here are some strategies you can implement in your startup to succeed and keep your employees from leaving. These are simple ideas that you can easily put into practice and it could make a big difference in the comfort and stability of your employees.
Find the reason for the employee turnover
The first thing you should do to mitigate employee turnover in your startup is to find the main reason that’s causing employees to leave. There are several actions you can take for this purpose, and one of them is to conduct anonymous employee surveys. Another strategy is to have a conversation with the employees that quit regarding the reasons that led them to make that decision.
Anonymous surveys are a useful tool that can continuously provide you with data regarding the level of happiness at work felt by your startup’s employees. This way you can also collect ideas and suggestions to help you improve. Some of the main reasons why employees tend to leave a job are low pay, no opportunities for advancement, and feeling disrespected at work.
Make both the application and recruitment process at your startup as fast as possible. Streamline the process by looking for employees who align with your company’s values and culture and who are a perfect match for the job opening.
Also, in the interview be sure to explain how a startup works, as it is very different from a large corporation. This way you won’t create false expectations about the job. Lastly, don’t hesitate to hire inexperienced professionals either, as you can give them the training they need to meet the expectations of the job.
Good communication with your team is essential, especially in a startup where teams are small. You must know their priorities and goals to create strong relationships with each one.
The team must communicate quickly and easily. Implementing tools that facilitate direct communication is ideal whether it’s remote or face-to-face work. Communication through chats or video calls is important to keep the whole team informed and up to date on what is happening.
Make sure your company offers a good work-life balance. Not overloading employees with work, distributing tasks well, and delegating tasks are key actions to avoid employees having to work overtime.
Implementing strategies such as flexible work schedules can also work to this end. As an employee will be able to allocate their working hours as long as they meet the set number of hours per month, as well as making sure they have the corresponding number of days off.
Offer your employees the opportunity to advance their careers. We know it can be difficult for a startup to offer promotions, but the opportunity to learn is not a difficult thing to offer. There are many options that you can consider. One of these options is online courses that can contribute to the development of your employees, such as online coding bootcamps, among other types of training.
Remember that investing in the education of your employees is investing in your business, and educational opportunities are one of the benefits that everyone wants in a job. The cost of a coding bootcamp is affordable, it is a much cheaper option than other training options.
Bootcamps are worth it as they are complete training focused on technical learning and on-the-job education. Especially in tech jobs, there are many opportunities to learn and train in an online and affordable way, so it is a good option to offer.